It is Not a bailout, it is a Loan on basis of 5%

What was private discussions between EU/IMF and Irish Government about last cure for poor growth into Irish economy has become today public discussions . The discussions were/are about how the Irish € 15 billions four - years economic plan could be realised. At first stage, the Irish Government plan has gone through about eight drafts gives details of budgets and what cuts will be made and how will be achieved. In this discussions, the Government has insisted to retain the 12.5% corporation tax. Subsequently, a delegation from the American Chamber of Commerce in Ireland were assured by Irish Financial Officials that there would be no charge in the rate.
At the second stage, the European authorities and the IMF are working on the basis that they will receive a call for emergency aid from the Government after Government realised the plan.
At the finally stage, a separate plan for restructuring the banking sector is also expected to be finalised. Moreover, the Government will sign of on the 160 page document which explain how the state will reduce the €5 billions at the end of 2014. At this stage the Government work hard to avoid increase the €5 billions target in talks on the loan bailout so-called facility.
However, the Government will be unable to stop increasing cuts over the next four - years plan. Why? Despite that Ireland economic downturn cannot be considered as same as Greece economic downturn, Greece should be considered as an example to meet terms of EU/IMF bailout. Euro zone finance Ministers called Athnes on 16 November to cut state spending further to meet the fiscal targets agreed as part of its €10 billions bailout package. The new cuts are bigger than the initially planned €.2 billion deficit reduction targeted in last month's first budget draft. " We have not yet won the battle but we are in a better position to deal with the real problems ... a wasteful state, problematic state companies and tax evasion", said finance Minister George Papaconstatinou. From Greece experience, this explain that it is hard to confirm that over the next four - years Irish economy will be in good shape and subsequently it will no further cuts. I think that since Irish economy growth have a base into one location, that is a dependence on growth export, the further cuts will go ahead. Subsequently, I think that there is no other alternatives today than EU/IMF. Since cuts is Not enough , EU/IMF is a last cure for poor growth into irish economy.