REFILE-Ireland’s four-year plan to be published Tue-report

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DUBLIN, Nov 20 (BestGrowthStock) – Ireland’s four-year plan to
reduce its deficit will be published on Tuesday, ahead of any
international financial aid package, the Irish Times newspaper
reported on Saturday.

International Monetary Fund and European Commission
officials are in Dublin to discuss a bailout to help Ireland
cope with its struggling banks.

Last month, the Irish government doubled to 15 billion euros
the amount of money it reckoned was needed to bring its deficit
under control by 2014, a move the finance minister said was to
ensure the country would not need a bailout. But that failed to
calm jittery markets.

Concerns about swelling bank liabilities and a German-led
drive to create a system for restructuring stricken euro zone
state debts have pushed Dublin’s borrowing costs sharply higher,
forcing the government into rescue talks with European and IMF
officials.

An Irish minister said on Friday the government’s four-year
plan would be published early next week but gave no dates.

However, The Irish Times said the plan would be published on
Tuesday, citing unnamed senior Irish officials.

“The cabinet will meet tomorrow to sign off on the 160-page
document which charts how the state will reduce its outgoings,”
the Irish Times said, adding the publication date had been
brought forward so it could be identified as a
government-originated plan rather than one driven by Europe or
the IMF.

The Irish Times said a separate plan for restructuring the
banking sector was also expected to be finalised this weekend.

Sources have told Reuters that Ireland may need assistance
of between 45 billion and 90 billion euros, depending on whether
it needs help only for its banks or for public debt as well.

REFILE-Ireland’s four-year plan to be published Tue-report