EU urges Ireland to approve budget plan soon

08:32, November 24, 2010      

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The European Union (EU) on Tuesday urged the Irish government to approve its budget plan for 2011 soon in order to get financial assistance from the EU and the International Monetary Fund (IMF).

"We don't have a position on the domestic democratic politics of Ireland but it is essential that the budget will be adopted in time and we will be able to conclude the negotiations on the EU- IMF program in time," European Commissioner for Economic and Monetary Affairs Olli Rehn was quoted as saying by the local media in Strasbourg, on the sidelines of a meeting of the European Parliament.

Rehn said earlier on Monday that the negotiations with the Irish government are expected to conclude by the end of November. And the aid package to Ireland will be based on the four-year austerity plan to be unveiled by Dublin on Wednesday and the 2011 budget plan on Dec. 7.

The Irish government is scheduled to provide details of the government's commitment to achieve fiscal consolidation of 15 billion euros by 2014, which will cut its deficit below 3 percent of gross domestic product as required by the EU rules.

After making a formal request for aid from the EU and the IMF on Sunday, Irish Prime Minister Brian Cowen came under great pressure. The opposition parties and his own coalition partner have asked him to resign and call a snap election in January next year.

Source: Xinhua


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