Daily Archives: November 22, 2010

The statement issued last night by the Eurogroup finance ministers referred to the “fiscal adjustment” and “structural reform” that Ireland will have to undertake as a condition for tens of billions of euros in emergency loans.

But Jan Kees de Jager, the Dutch finance minister, put it more bluntly in his own statement. “Ireland will have to cut fast and deep,” Mr De Jager said. As if that were not unpleasant enough, he ominously added that “The IMF will have a prominent role in drawing up the aid package.” Read more