€7.5bn in cuts needed over next four years: ESRI

The Government needs to make cuts of up to €7.5bn over the next four years to put the country's finances on a sustainable path, according to the Economic and Social Research Institute.

In a document outlining possible paths to recovery, the Institute also says we could see a return to full employment by 2015 if we maintain a competitive export sector and contain the cost of the banking crisis.