So should government listen to IMF and continue with current austerity programme?

The IMF has stated that Ireland should continue with plans for a €2 billion budget adjustment next year notwithstanding strong economic growth here. Joan Burton, the likely new leader of the Labour Party, “has indicated that her intention is to remain in the coalition and to maintain the fiscal targets for 2015, while also emphasising the need for social repair alongside economic repair”. Sounds like she wants to have her cake and eat it!  The view of an increasing number of top economists is that the present austerity drive across Europe is not in the best long term interest of the EU or its citizens. If we continue on this path it will take more than a little “social repair” to get us back on our feet.

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