Menu
10/05/2010
Deficit-Hit Ireland 'Bails Out' Greece
The European community's rescue bid for the beleaguered Greek economy is to include a massive Irish contribution.
It has emerged that Ireland is to loan Greece €1.3bn as part of the EU's International Monetary Fund €110bn bailout package.
The money will be loaned over a three-year period, with €80bn coming from the EU itself and the rest from the International Monetary Fund.
Even though Ireland has a bigger budget deficit than Greece - the biggest in the EU in fact - the State's lower total debt levels and harsh spending cuts have allowed the country to avoid the massive increases in the cost of borrowing which has now pushed Greece to the brink of defaulting.
But, as the wave of violent - and murderous - protests in Greece show, in order to access the bilateral loans, the Greek Government must cut it's spending and raise taxes.
Dublin Finance Brian Lenihan has now said the decision to help Greece will to the benefit of everyone who uses the Euro and his Government is preparing legislation to allow Ireland to loan the money to Greece and the Minister is set to brief the cabinet on the deal today.
The Greek government must now face up to the opposition from the Greek public which this week led to the deaths of three innocent bank staff, who died in their blazing premises after rioters set fire to it.
(BMcC/GK)
It has emerged that Ireland is to loan Greece €1.3bn as part of the EU's International Monetary Fund €110bn bailout package.
The money will be loaned over a three-year period, with €80bn coming from the EU itself and the rest from the International Monetary Fund.
Even though Ireland has a bigger budget deficit than Greece - the biggest in the EU in fact - the State's lower total debt levels and harsh spending cuts have allowed the country to avoid the massive increases in the cost of borrowing which has now pushed Greece to the brink of defaulting.
But, as the wave of violent - and murderous - protests in Greece show, in order to access the bilateral loans, the Greek Government must cut it's spending and raise taxes.
Dublin Finance Brian Lenihan has now said the decision to help Greece will to the benefit of everyone who uses the Euro and his Government is preparing legislation to allow Ireland to loan the money to Greece and the Minister is set to brief the cabinet on the deal today.
The Greek government must now face up to the opposition from the Greek public which this week led to the deaths of three innocent bank staff, who died in their blazing premises after rioters set fire to it.
(BMcC/GK)
Related Northern Ireland News Stories
Click here for the latest headlines.
25 July 2005
Donaghy heaps praise on NI U-19’s despite Euro exit
Northern Ireland Under-19 manager Mal Donaghy has heaped praise on his team despite Saturday’s 2-1 defeat to Germany and his side’s exit from this year’s European Championship’s.
Donaghy heaps praise on NI U-19’s despite Euro exit
Northern Ireland Under-19 manager Mal Donaghy has heaped praise on his team despite Saturday’s 2-1 defeat to Germany and his side’s exit from this year’s European Championship’s.
27 July 2023
Airlines Responsible For Updating Travellers Amid Greece Wildfires
NI travellers impacted by the wildfires in Greece have been urged to keep in contact with their airline, as they are responsible for keeping passengers up-to-date on changes to travel arrangements.
Airlines Responsible For Updating Travellers Amid Greece Wildfires
NI travellers impacted by the wildfires in Greece have been urged to keep in contact with their airline, as they are responsible for keeping passengers up-to-date on changes to travel arrangements.
03 April 2003
McIlroy's job in question following Greek defeat
Sammy McIlroy's job as Northern Ireland manager was in doubt today following last night's 2-0 defeat by Greece in Belfast. Although Sammy's team had two men sent off thanks to what the crowd considered to be some dubious refereeing decisions, it is now 792 playing minutes since Northern Ireland scored a goal and 17 months since the side won.
McIlroy's job in question following Greek defeat
Sammy McIlroy's job as Northern Ireland manager was in doubt today following last night's 2-0 defeat by Greece in Belfast. Although Sammy's team had two men sent off thanks to what the crowd considered to be some dubious refereeing decisions, it is now 792 playing minutes since Northern Ireland scored a goal and 17 months since the side won.
29 June 2012
Dash Of The Titans To Hit Belfast
Ancient Greek mythology depicts the Titans as a race of powerful gods who ruled during the legendary Golden Age. As Belfast enters into its own Golden Age, the city is hosting the colossal Dash of the Titans challenge.
Dash Of The Titans To Hit Belfast
Ancient Greek mythology depicts the Titans as a race of powerful gods who ruled during the legendary Golden Age. As Belfast enters into its own Golden Age, the city is hosting the colossal Dash of the Titans challenge.
22 August 2003
Holiday firm plans Italian Job
Northern Ireland holidaymakers will be flying directly from Belfast to Italy for the first time next summer, thanks to a leading tour operator. JWT Holidays, which returned to the local holiday market last year, unveiled its plans through its new JWT Destinations brochure aimed at the more independent traveller.
Holiday firm plans Italian Job
Northern Ireland holidaymakers will be flying directly from Belfast to Italy for the first time next summer, thanks to a leading tour operator. JWT Holidays, which returned to the local holiday market last year, unveiled its plans through its new JWT Destinations brochure aimed at the more independent traveller.
-
Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
