IIF criticises ‘one size fits all’ austerity policy

Ireland will successfully exit the bailout programme later this year thanks to its flexible workforce in the private sector and the US export market, the international bankers’ body, the Institute of International Finance claimed.

But they were critical of the “one size fits all” approach to the EU’s austerity programmes, while the austerity policies of Germany and other budget hawks took a beating from trade unions as EU leaders battled to restore growth.

Taoiseach Enda Kenny and the presidents of the European Commission and the European Council were warned that they were pursuing suicidal policies by the president of the European Trade Union Congress (ETUC), Ignacio Toxo.