• Leaked European Commission documents given to the German Parliament reveal Ireland may need a mini budget this year

    Documents leaked to the German Parliament and seen by Bloomberg reveal that Ireland may need a mini budget in 2012.

    The documents are a European Commission report on the Troika's work to date and were issued to the Bundestag by the German Federal Ministry for Finance. The European Commission report says that the growth outlook in Ireland could continue to "deteriorate significantly" and "additional fiscal tightening" may be needed.

    A spokesperson for the Department of Finance confirmed the authenticity of the documents, saying they are scheduled to be published tomorrow.

    Sinn Fein's Pearse Doherty has said his party are demanding to know why the German Parliament is discussing documents about Ireland before Ireland has had a chance to discuss it. Doherty says he's also calling on the Taoiseach to confirm what he knows about the European Commission's views on a mini-budget.

    More: Bloomberg : Ireland Told by EU It May Need More Budget Cuts to Meet Targets
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    Comments 73 Comments
    1. ruserious's Avatar
      ruserious -
      Scheiße.
    1. Mysterion's Avatar
      Mysterion -
      Ah for fecks sake...

      Weren't they right the last time as well...
    1. Drico's Avatar
      Drico -
      As far as I knew the Government were openly talking about this anyway...
    1. devnull's Avatar
      devnull -
      If growth isn't high enough, adjustments will have to be made to the budget.
      I thought everybody knew that?
    1. we have turned the corner's Avatar
      we have turned the corner -
      Well if we vote no to the upcoming FC referendum we certainly WILL be needing a mini budget, and much, much worse.

      This, if anything, will increase the pressure on the troika to do something about the Anglo promissary notes that will be of real benefit to the Irish taxpayer - the last thing the Government wants is anything even resembling speculation about a mini budget while the referendum is going on.
    1. He3's Avatar
      He3 -
      In line with expectations.
    1. Kerry South's Avatar
      Kerry South -
      This cant be true.

      I call fake, God has told me that Enda dosent lie to the people, he is our future. I simply cannot accept this.
    1. gerhard dengler's Avatar
      gerhard dengler -
      Sean Whelan reported this story on today's edition of RTE News at One.
    1. Ribeye's Avatar
      Ribeye -
      Quote Originally Posted by Kerry South View Post
      This cant be true.

      I call fake, God has told me that Enda dosent lie to the people, he is our future. I simply cannot accept this.

    1. Astral Weeks's Avatar
      Astral Weeks -
      If you want to know what's happening in Ireland these days you have to go to Germany. Truly we are a province once again.
    1. Kerry South's Avatar
      Kerry South -
      Quote Originally Posted by Astral Weeks View Post
      If you want to know what's happening in Ireland these days you have to go to Germany. Truly we are a province once again.
      Germany is a good country, in them we must trust.
    1. He3's Avatar
      He3 -
      Quote Originally Posted by gerhard dengler View Post
      Sean Whelan reported this story on today's edition of RTE News at One.
      Nowhere near the top of Six One?
    1. Ribeye's Avatar
      Ribeye -
      Quote Originally Posted by Astral Weeks View Post
      If you want to know what's happening in Ireland these days you have to go to Germany. Truly we are a province once again.
      Usurper!

      Ha!
    1. Crazy horse 6's Avatar
      Crazy horse 6 -
      Lads they are running the country. Don't be fooling yourself otherwise.
    1. Grumpy Jack's Avatar
      Grumpy Jack -
      This is not new - we know all the troika bailout reports go to the EU states' finance ministries from the EC and on to their respective parliaments. In the case of the Germans, the Bundestag's budgetary committee has to approve each tranche of funding for the three bailout states. And politicians can't resist leaking something to the media.

      That's one of the prices we're paying for being beholden to others for funding.

      And there's feck all the govt can do to stop it.
    1. rockofcashel's Avatar
      rockofcashel -
      So SF were right again.. those damn economic illiterates.. why do the Government bother telling people lies when it's all going to come out in the end and make them look stupid
    1. fuque's Avatar
      fuque -
      twas obvious a mini budget would be needed early 2012 from a week or two following the budget.
    1. gerhard dengler's Avatar
      gerhard dengler -
      Quote Originally Posted by He3 View Post
      Nowhere near the top of Six One?
      Whelan said on the News at One to Sean O'Rourke that news of the Bundestag seeing the report before Irish politicians had been leaked by someone at the Bundestag to the media.

      O'Rourke made a remark about this being the second time that German politicians got sight of information before Irish politicians did - and Whelan agreed but stated that as journalist it was great that these type of controversies are leaked.
    1. Analyzer's Avatar
      Analyzer -
      Alright, so Baldy and the Dwarf did not get the budget right.

      That VAT rise was not enough.

      And, to the great consternation to the know-it-all constituency in this country, the pariah that the media have instructed us to fear, because they issue the heresy of the age, the UK Independence Party has been shown to be correct in that the entire Troika regime is making everything worse, not better.
    1. sport02's Avatar
      sport02 -
      In fairness there have been a few here that have said for some time now, expect an emergency budget.

      Also Kudos to D.Cochrane for all the news breaking in last hour. This and O'Cuiv.
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