Ireland's bailout lenders Thursday endorsed the Irish government's efforts to reduce its huge budget deficit and said that austerity was still the best way for the country to get back to market funding.
Officials from the European Union, International Monetary Fund and the European Central Bank were in Dublin for the end of their latest quarterly review of Ireland's €67.5 billion ($92.88 billion) bailout deal. The bailout troika said Ireland has met its fiscal and bank restructuring targets and, echoing remarks by the Irish government, said the country wasn't in a similar position as Greece and will pay its way.
"This program is working. It is working in a number of ways," said Ajai Chopra, a deputy director of the IMF's European department. However, he added the country still faces difficult steps in bringing in large fiscal cuts and restructuring its banks.
Lire : online.wsj.com
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