Topics

Cypriot Banking Crisis (2013)
Ireland first to emerge from financial bailout
Ireland first to emerge from financial bailout

LONDON – After three difficult years, Ireland is to emerge from its financial bailout program Sunday, the first nation to do so out of the five Eurozone countries that have had to seek rescue funds from international lenders. But official relief at the end of Ireland’s reliance on emergency loans is tempered by the fact that it will continue to face deep government cuts in order to close a yawning budget gap and pay off its debt. State salaries and social services have been scaled back significantly during the last several years in an austerity drive that has left few of the nation’s 4.5 million people unaffected. “This isn’t the end of the road,”...

Loading