Bloomberg News

Ireland Should Make More Cuts to Control Debt, Advisor Says

October 13, 2011

Oct. 13 (Bloomberg) -- John McHale, Chairman of the Irish Fiscal Advisory Council, said that Ireland should make further budget savings next year to insure that its debt remains sustainable.

“At the moment the debt does look to be on a sustainable path,” said McHale, who heads an expert group established to advise the government on fiscal matters in an interview with Dublin-based RTE today. “It wouldn’t take that much to knock us off that sustainable path.”

The council said yesterday it wants the government to bring its budget deficit down to 1 percent of gross domestic product by 2015. McHale said he is urging the government to make 4.4 billion euros in savings next year.

To contact the editor responsible for this story: Finbarr Flynn at fflynn3@bloomberg.net


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