Opposition TDs in talks with troika

THE TROIKA of international bodies overseeing Ireland’s bailout programme is concerned about overruns in the Government’s health budget and slow progress in dealing with banking reform and mortgage arrears, leading members of the Opposition have said.

Opposition TDs met senior representatives of the European Commission, European Central Bank and the International Monitory Fund in hour-long meetings yesterday.

All the delegations confirmed the troika said the €3.5 billion of adjustments in December’s budget still applied but all of the decisions on achieving those savings rested with the Government.

Fianna Fáil said the troika had raised significant concerns with its delegation about overruns in health and slow progress in the banking area. “One of the main points was the reaffirmation by the troika that the Government has a great deal of flexibility in framing the budget,” said the party’s finance spokesman, Michael McGrath.

“The overall target of €3.5 billion has to be achieved, but the individual components of that are entirely a matter for Government, including the introduction of a property tax.” The troika is open to good quality alternative suggestions as long as fiscal targets are achieved, he added.

Fianna Fáil recently announced it will oppose the Government’s proposal for a property tax.

Mr McGrath said the troika confirmed it was engaging in some detail with Department of Health officials and Minister for Health James Reilly on health overruns. “It became clear to us during the meeting that that is an area of significant concern for them.”

Sinn Féin deputy leader Mary Lou McDonald said she reminded the troika of the unemployment and emigration crisis. She said Sinn Féin had talked the troika through its recently published €12 billion plan to create jobs and stimulate the economy.