Brussels raps the Governments Knuckles

THE EUROPEAN Commission has questioned the Government’s ability to implement its recovery plan and criticised the plan’s lack of clarity.


Notably that it was “unclear” and “underdeveloped”.

It also underpins what everyone here knew all along that Irish policymakers failed to maintain “a prudent fiscal course” during the boom, particularly in relation to maintaining spending targets. This tendency to change targets “might limit their ability to credibly commit to a consolidation strategy in difficult times”

None too fond of the Bank Gaurantee scheme either which it says could have a “potential negative impact on the long-term sustainability of public finances”

On top of all that we are facing an excessive deficit procedure.

Irish recovery plan provokes harsh criticism from Brussels - The Irish Times - Wed, Feb 18, 2009