Belfast Telegraph

Plan to ease crisis 'out next week'

The Government's four-year plan to fix the economic crisis will be published early next week, a minister has said.

As the European Commission (EC) confirmed Ireland has made no request for an EU bail-out, Justice Minister Dermot Ahern revealed the 15 billion euro adjustment was being finalised.

Meanwhile Irish borrowing costs eased back following assurances from key European figures that investors would be repaid if the country tapped into a rescue fund.

Mr Ahern said the Cabinet will hold an early morning meeting on Tuesday before Finance Minister Brian Lenihan travels to Brussels to face his EU counterparts over the country's financial crisis.

"Obviously we would like to get the plan out sooner rather than later," said Mr Ahern.

"I anticipate it will be some time next week."

Reports Ireland was under increased pressure to apply for a multi-billion euro emergency bail-out was again rejected by Mr Ahern, who instead confirmed officials from Ireland, the European Central Bank (ECB) and EC were in constant contact over the pressure on the euro.

He said Mr Lenihan will be articulating Ireland's position at the meeting of EU finance ministers.

"People need to be calm," said Mr Ahern.

"Ultimately there's people who may very well have their own particular interest for making comments."


From Belfast Telegraph