The Government is confident that the troika will give it a “clean bill of health” when it issues its conclusion on Ireland’s latest quarterly performance on Thursday, writes Harry McGee Political Correspondent.
The three bodies – the International Monetary Fund, the EU Commission and the ECB – will conclude the seventh review of the State’s ongoing compliance with the bailout programme. Minister for Finance Michael Noonan and Minister for Public Expenditure Brendan Howlin will meet senior officials from the troika on Thursday morning, ahead of two press conferences announcing the outcome.
At a meeting last week, the two Ministers reiterated the importance of the domestic growth agenda as well as stimulus measures to boost the economy.
Separately, the Irish Congress of Trade Unions called on troika officials yesterday to agree to slow the pace of the economic adjustment because of the adverse effect of rising unemployment, a lack of growth and a “collapse” in domestic demand. Ictu head David Begg argued for the adjustment period to be extended until 2017. “If we stay on the planned trajectory it is almost certain that greater damage will be done. By slowing the pace of adjustment we could avoid deepening the slump, while a major investment programme could offset some of the damage, in terms of job losses and collapsed domestic demand,” he said.