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EU Commission reaching for the wooden spoon...

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  • 03-11-2008 1:27pm
    #1
    Darragh29
    Closed Accounts Posts: 7,097 ✭✭✭


    Looks like Brussels are reaching for the wooden spoon to put us back to where we should be with regard to our budgetary situation...

    The European Commission will launch disciplinary action against Ireland in the coming weeks for allowing a sharp deterioration in its public finances, EU Economic Affairs Commissioner Joaquin Almunia said today.

    'We will start the procedures to open an excessive deficit procedure with a recommendation to correct the deficit in the coming weeks,' Almunia said.

    Ireland, which has long run budget surpluses, will see its public finances swing deep into deficit this year with a shortfall equal to 5.5% of output, the European Commission estimated earlier today.
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    That would put the public deficit well beyond a limit of 3% normally allowed in the European Union.

    However, the commission forecast that the situation would only get worse, estimating that the difference between Ireland's spending and revenues would rise to 6.8% in 2009 and 7.2% in 2010.


    http://www.rte.ie/business/2008/1103/eu.html

    It's hard to see how there won't be huge job losses now in the public sector, because this is where we are hemoraging the money from...


Comments

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    #2
    dresden8
    Registered Users Posts: 3,290 ✭✭✭dresden8


    And to think they would have let us away with it if we had voted Yes to Lisbon.

    Ah well.


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    #3
    mike65
    Closed Accounts Posts: 88,978 ✭✭✭✭mike65


    How does the EU disipline a country? Esp when said state is being "encouraged" to hold a second referendum on EU matters?

    Mike


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    #4
    Darragh29
    Closed Accounts Posts: 7,097 ✭✭✭Darragh29


    It looks to me like we are going to have the collective arses spanked off ourselves until government spending comes down to where revenue is. At least biffo can point to the EU Bogeyman now and say we are being forced to cut spending by Brussels, it's a good job they aren't asking us to hold that Lisbon thingy again anytime soon, isn't it!?!?!


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    #5
    SkepticOne
    Closed Accounts Posts: 6,718 ✭✭✭SkepticOne


    Didn't Germany and France run up deficits in excess of three percent for years? We should give the finger to Brussels like those countries did.


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    #6
    gandalf
    Registered Users Posts: 26,458 ✭✭✭✭gandalf


    dresden8 wrote: »
    And to think they would have let us away with it if we had voted Yes to Lisbon.

    Ah well.

    Well looks like another positive of the No to Lisbon if it means they have to finally sort out the Public Service wastage :)


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    #7
    djpbarry
    Registered Users Posts: 13,104 ✭✭✭✭djpbarry


    dresden8 wrote: »
    And to think they would have let us away with it if we had voted Yes to Lisbon.
    How do you figure?


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    #8
    mike65
    Closed Accounts Posts: 88,978 ✭✭✭✭mike65


    Sarcasm I suspect.

    Mike


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    #9
    dresden8
    Registered Users Posts: 3,290 ✭✭✭dresden8


    mike65 wrote: »
    Sarcasm I suspect.

    Mike

    Indeed.


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    #10
    djpbarry
    Registered Users Posts: 13,104 ✭✭✭✭djpbarry


    dresden8 wrote: »
    mike65 wrote: »
    Sarcasm I suspect.

    Mike
    Indeed.
    Ah. Noted.


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    #11
    Princess Consuela Bananahammock
    Registered Users Posts: 33,440 ✭✭✭✭Princess Consuela Bananahammock


    Darragh29 wrote: »
    It looks to me like we are going to have the collective arses spanked off ourselves until government spending comes down to where revenue is. At least biffo can point to the EU Bogeyman now and say we are being forced to cut spending by Brussels, it's a good job they aren't asking us to hold that Lisbon thingy again anytime soon, isn't it!?!?!

    Eh... "we"??

    I never voted for FF and I've always said that the government didn't put enough funding into improving public services when they had the chance. Any idiot could have seen this years ago, but for some reason, didn't.

    What was it Ray Patterson/Steve Martin said...? "It's so satisfying to leave you wallowing in your own filth. Goodbye"

    Everything I don't like is either woke or fascist - possibly both - pick one.



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    #12
    Scofflaw
    Registered Users Posts: 23,283 ✭✭✭✭Scofflaw


    SkepticOne wrote: »
    Didn't Germany and France run up deficits in excess of three percent for years? We should give the finger to Brussels like those countries did.

    We already gave them the finger, back in 2001. The EU commission said the Irish budget was inappropriately spendthrift, and we went ahead anyway, because who were they to tell us what to do, eh? What did they know about the Irish miracle economy?

    cordially,
    Scofflaw


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