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The European Commission Summer 2012 review of the Economic Adjustment Programme in Ireland

Ireland is at significant risk of not meeting its EU 2020 targets.

Figures released by the Environmental Protection Agency (EPA) indicate that while Ireland’s greenhouse gas emissions will comply with its Kyoto Protocol obligations (2008 – 2012), Ireland is at significant risk of not meeting its EU 2020 targets even under the best-case scenario.

European Commission Spring Review of Ireland's Economic Adjustment Programme 2012

Making choices in precarious times such as these a country, a government, a society or an international institution defines itself by:

The cuts it makes; the people it protects; its effectiveness on economic growth/jobs; its actions on public services; the values underpinning its choices.

The global economy is in a dangerous new phase according to the International Monetary Fund (IMF). In its World Economic Outlook published September 20, 2011, the IMF states that global activity has weakened and become more uneven, confidence has fallen sharply recently, and downside risks are growing. This slowdown will make it even more unlikely that Ireland’s Bailout Agreement targets will be achieved. 
The World Economic Outlook’s main conclusions include:

While the texts produced by the Irish Government and the ECB/IMF/EU following the latter's review of Ireland's progress in implementing the Bailout agreement contained little information on changes or adjustments to the agreement, the latter's statement contained one blatent claim that seriously insults Ireland's poorest and most vulnerable people. 

The following is the full text of the statement by the ECB/IMF/EU team on completing their review of Ireland's Bailout. The statement was issued on April 15, 2011.

EU Commissioner for Economic and Monitory Affairs, Mr Olli Rehn, has insulted Ireland’s poor and vulnerable people by refusing to meet the Community and Voluntary Pillar that represents these people in the social partnership process.  By refusing to meet the C+V Pillar the Commissioner has confirmed that the European Commission supports the Government’s budgetary strategy which will damage the poor, the sick, the vulnerable and the unemployed. 

The European heads of government have produced a strategy for the next ten years that is underwhelming to say the least. The development model on which it is built is lop-sided.

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