Ireland’s budget “broadly compliant” with EU rules: European Commission

The European Commission said this week that Ireland’s draft national budget is “broadly compliant” with the EU’s Stability and Growth Pact rules. However, it is still worried about debt levels in Ireland and fast rising house prices. Ireland was one of 5 countries that were broadly compliant, while 6 were “compliant”. Five other countries (Belgium, Italy, Austria, Portugal, and Slovenia) were not compliant and deemed to be exposed to risk. (Greece is not included as it is still under the EU/IMF programme).

Read more…