Ireland unveils four-year recovery plan / Dublin fails to dispel eurozone debt fears

Ireland will cut welfare expenditure, slash the minimum wage, raise income tax and introduce a levy on land and property owners under a drastic austerity plan intended to put the public finances on a stable long-term footing.

Under the four-year programme, announced on the 24 November 2010, the government intends to save €15bn between 2011 and 2014 – or about 4% of annual economic output – with €10bn in public spending cuts and €5bn in new taxes and revenues.

European Commission: MEMO/10/611: Statement by EU Commissioner for Economic and Monetary Affairs Olli Rehn on the Irish 4-year recovery plan http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/10/611&format=PDF&aged=0&language=EN&guiLanguage=en

EurActiv, 25.11.10: Irish vote threatens to block budget http://www.euractiv.com/euro-finance/irish-vote-threatens-block-budge-news-499994

ESO: Background information: Ireland to unveil four-year austerity plan http://www.europeansources.info/record/ireland-to-unveil-four-year-austerity-plan/

Irish Times, 25.9.10: Dáil to debate €15bn package of cuts and taxes http://www.irishtimes.com/newspaper/breaking/2010/1125/breaking9.html

Irish Times: Topics: Economic Crisis http://www.irishtimes.com/topics/economiccrisis/

Irish Times: Topics: Banking Crisis http://www.irishtimes.com/topics/bankingcrisis/

Irish Times, 25.11.10: Editorial: Harsh but unavoidable http://www.irishtimes.com/newspaper/opinion/2010/1125/1224284098591.html

BBC News, 24.11.10: Irish unveil tough four-year recovery plan http://www.bbc.co.uk/news/business-11829811

BBC News, 25.11.10: Euro slide continues as Irish debt fears persist http://www.bbc.co.uk/news/business-11836514

Deutsche Welle, 25.11.10: Ireland announces sweeping austerity measures to secure bailout http://www.dw-world.de/dw/article/0,,6262986,00.html

France24, 24.11.10: Troubled Irish govt unveils four-year austerity plan http://www.france24.com/en/20101124-ireland-government-unveils-austerity-plan-four-year-15-billion-cowen-economy-crisis

http://www.budget.gov.ie/RecoveryPlan.aspx http://www.budget.gov.ie/RecoveryPlan.aspx

Irish Times, 24.11.10: 'No group sheltered' as €15 billion savings plan unveiled http://www.irishtimes.com/newspaper/breaking/2010/1124/breaking3.html

EUObserver, 24.11.10: Dublin unveils radical austerity programme http://euobserver.com/9/31348

IBEC: Press Release, 24.11.10: IBEC reaction to new four-year budgetary plan http://www.ibec.ie/IBEC/Press/PressPublicationsdoclib3.nsf/vPages/Newsroom~ibec-reaction-to-new-four-year-budgetary-plan-24-11-2010?OpenDocument?OpenDocument

ICTU: Press Release, 24.11.10: Congress slams 'savage and regressive' plan http://www.ictu.ie/press/2010/11/24/congress-slams-savage-and-regressive-plan/

Deutsche Welle, 25.11.10: EU welcomes Irish austerity plan http://www.dw-world.de/dw/article/0,,6264512,00.html

Spiegel Online International, 25.11.10: Austerity Plan Could 'Stall the Irish Economy' http://www.spiegel.de/international/europe/0,1518,731187,00.html

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