After France, Ireland wants EU budget flexibility

Following the decision from the Council of the European Union to grant France two extra years to bring its government deficit below 3% of GDP and not to start disciplinary steps against Italy over rising debt, Ireland also decided to ask for more flexibility towards its budget spending in 2016.

Ireland, which went through years of budget cuts and economic change to bring down its budget deficit from 12.6% of gross domestic product (GDP) in 2011 to an expected 2.9% in 2015, wants to be allowed to increase spending in line with its GDP growth rate in 2016 rather than a lower, calculated average.

• Primary Source

ESO: Background Information: France gets two more years to correct its government deficit http://www.europeansources.info/record/press-release-france-gets-two-more-years-to-correct-its-government-deficit/

ESO: Background information: EU officials back Ireland's bid to repay bailout early http://www.europeansources.info/record/eu-officials-back-irelands-bid-to-repay-bailout-early/

Irish Times, 11.03.15: Michael Noonan seeks more flexibility for Ireland following two-year deficit deal for France http://www.irishtimes.com/business/economy/michael-noonan-seeks-more-flexibility-for-ireland-following-two-year-deficit-deal-for-france-1.2134193

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