Spain has become the fourth country to seek a European bailout.
Irish banks to take up to €10 billion in loans
Economy
Irish banks are set to take out around €10 billion in loans according to an article in the Independent.
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Government Slices and Dices Budget Across Board; Most Vulnerable Hardest Hit
EconomyMany struggling families may suffer with an additional €1,000 a year loss after they’re hit by a bundle of stealth charges, with a second wave of additional pain possible. According to Brendan Howlin, Public Expenditure minister, said €2.2 billion in spending cuts would leave all middle-income families to deal with considerably higher bills, as reported in the Irish Examiner.
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Germany, France Come Up With Plan To Handle Europe’s Debt Crisis
EconomyChancellor Angela Merkel of Germany and President Nicolas Sarkozy of France have stuck an agreement that preserves budget discipline, which they anticipate will help get a handle on the Euro debt crisis. The two country leaders will present the plan to EU leaders.
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Will there be a double-dip recession?
EconomyThe Independent wrote a commentary on Sunday on the likelihood of a double-dip recession.
Ireland’s loan costs start climbing again
EconomyAs reported in the Irish Times, Ireland loan costs are rising again due to the further deepening of the Eurozone debt crisis.
Dublin Council of Trade Unions: 20,000 Attend Dublin Protest
EconomyA protest was held in Dublin today against austerity measures and in favour of job creation.
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Government Plan VAT Rise to 23%
Economy NewsFinance Minister Michael Noonan has announced plans to increase VAT tax by 2% from 21% to 23%.
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Positive words from IMF as new loan funds announced
EconomyThe IMF has released another €1.5 billion of bailout loan funding, and also complimented Ireland’s strategy for economic recovery.
Anglo Irish Bank to repay loan debt
EconomyAnglo Irish Bank have stated that they are no longer a systematic threat to the Irish economy, and that once they have finished winding down on the sale of their bad loans, they should be able to repay some of the 29 billion Euros loaned to them.