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Ireland's negotiations with the European Commission, the ECB and the IMF were concluded on Sunday, November 28, 2010.  The bottom line is that Ireland's tax-payers, poor people and vulnerable people are to take the full impact of the 'hit' for bank losses.

Social Justice Ireland asks Government to clarify how €3bn welfare decreases are to be achieved by 2014

László Andor, the European commissioner for employment and social affairs, has raised concerns that the austerity programmes being developed by national governments to address the present crisis will lead to deeper recession rather than recovery in Europe. 

Since 2008 successive Governments have pursued an austerity policy which has included deficit-cutting, lower spending, a reduction in the benefits and public services provided by the State coupled with increases in taxes but not on the corporate sector. This austerity approach is not working.