Kenny: Revised EU/IMF deal will help jump-start economy
An Taoiseach Enda Kenny has said the revised bailout deal with the IMF and Europe to be announced later will help to get the engine of the economy working again.
The deal will restore the rate of the minimum wage, detail next month's jobs initiative, and include other pledges made in the Programme for Government.
The so-called troika of the IMF, European Union and European Central Bank will praise Ireland for achieving the targets in the bailout to date, but warn that further tough decisions remain to be made.
Enda Kenny said that " a range of measures were being taken to get the engine of the economy working before it could be given the "fuel of confidence".
The IMF is expected to confirm today that Ireland has met its obligations for cutting costs in the first quarter of the year, but we will not get the full details of the updated agreement today. This will be signed off by the IMF, ECB and European Union in the coming weeks.
Former deputy director at the IMF Donal Donovan said the revised document was likely to put further pressure on costs in the public service.
