Wednesday, December 22, 2010

Ireland in the Noose - IMF bailout plan to get more inflexible over time despite assurances

By Jon Ihle, from the Irish Tribune:

The bailout conditions agreed between Ireland and the EU and IMF are likely to get more restrictive over time, despite official assurances that there is "room for discussion" around the specifics, according to a senior source briefed on the matter.

According to the source, who has had contact with senior IMF officials, any slippage in carrying out the programme will result in tougher modifications to the plan.

The terms of the memorandum of understanding, which lays out the programme for Ireland's financial support, are expected to become increasingly inflexible with each quarterly review, as IMF officials achieve a finer understanding of the country's problems, the source said.....read on

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