EU’s troika representative denies bailout creates ‘democratic deficit’ –


Istvan Szekely, the man known in political circles by the nickname "The Tall Hungarian", said the troika's bailout programme was not fixed, but could "adjust to realities" as economic circumstances change.

THE EUROPEAN Commission’s representative on the troika, Istvan Szekely, has denied that there is a “democratic deficit” in the Republic as the result of the conditions attached to the its bailout programme.

“The programme’s main goal is to restore confidence in policies and help get Ireland get back on its feet so it can get financing on its own from the markets,” Mr Szekely told a summit on leadership organised by employers’ group Ibec.

“It is important to point out this conditionality is negotiated with the Government,” he said. “There is no democratic deficit here.”

The man known in political circles by the nickname “The Tall Hungarian” said the troika’s bailout programme was not fixed, but could “adjust to realities” as economic circumstances change.

“The shared goal is for the troika to get out,” he said. “So if we do our job right, we lose our job.”

Mr Szekely, whose official title is country director at the European Commission’s directorate general for economic and financial affairs, said further job losses were likely in some sectors before others could be created in areas “more attuned to the market”.

Ireland’s successful export sector was not creating enough jobs for people on the Live Register, he said, raising the dangers of long-term unemployment.

“I think we can all agree that we cannot afford a lost generation.”

Difficulties faced by businesses trying to access credit would be addressed as part of the troika’s next review of how Ireland’s structural reforms were progressing, he indicated.

On the impact of the fiscal measures imposed following the implementation of the bailout programme, Mr Szekely admitted “more needs to be done” to protect the most vulnerable.

“Ireland has been through difficult times but I am personally very optimistic about the future of this country and I always have been,” he added.

Also addressing the summit in the Convention Centre Dublin, Ibec director general Danny McCoy called for the immediate suspension of public sector pay increments.

Mr McCoy said the payment of the increments was “not credible” at a time when a further €3.5 billion adjustment would be required in the next budget.

“One of the priorities of the budget must be the creation of employment and protection of existing employment,” he said.

Ibec is also calling for an increase in working hours in the public sector, the reform of the allowances system and a cut in pension entitlements.

via EU’s troika representative denies bailout creates ‘democratic deficit’ – The Irish Times – Fri, Oct 12, 2012.

via EU’s troika representative denies bailout creates ‘democratic deficit’ – The Irish Times – Fri, Oct 12, 2012.

About Old Boy

Love the past and the future but live in the present

Posted on October 12, 2012, in Government, IMF/ECB and tagged , , , , , , , , , , . Bookmark the permalink. 1 Comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

MovieBabble

The Casual Way to Discuss Movies

OLD HOLLYWOOD IN COLOR

...because it was never black & white

LEANNE COLE

Art and Practice

CURNBLOG

Movies, thoughts, thoughts about movies.

FilmBunker

Saving you from one cinematic disaster at a time.

From 1 Blogger 2 Another

Sharing Great Blog Posts

Wonders in the Dark

Cinema, music, opera, books, television, theater

Just Reviews

Just another WordPress.com site

Mark David Welsh

Watching the strangest movies - so you don't have to...

conradbrunstrom

Things I never thunk before.

News from the San Diego Becks

The life and times of Erik, Veronica and Thomas

The Silent Film Quarterly

The Only Magazine Dedicated To Silent Cinema

Leaden Circles

First a warning, musical; then the hour, irrevocable. The leaden circles dissolved in the air.

My Archives

because the internet is not forever

CineSocialUK

Up to the minute, fair, balanced, informed film reviews.

PUZZLED PAGAN PRESENTS

A Shrine to Pop Culture Obsessiveness. With Lots of Spoilers

Thrilling Days of Yesteryear

“Nostalgia isn’t what it used to be” – Peter DeVries

thedullwoodexperiment

Viewing movies in a different light

Twenty Four Frames

Notes on Film by John Greco

Suzanne's Mom's Blog

Arts, Nature, Family, Good Works, Luna & Stella Birthstone Jewelry

It Doesn't Have To Be Right...

... it just has to sound plausible

NJ Corporate Portrait Photographer Blog

The life of a corporate portrait photographer who likes to shoot just about anything.

arwenaragornstar

A French girl's musings...

Jordan and Eddie (The Movie Guys)

Australian movie blog - like Margaret and David, just a little younger

Octopus Films

A place for new perspectives on films, TV, media and entertainment.

scifist 2.0

A sci-fi movie history in reviews

The Reviewer's Corner

The Sometimes Serious Corner of the Internet for Anime, Manga, and Comic Reviews

Ready Steady Cut

Your favorite pop-culture site's favorite pop-culture site

First Impressions

Notes on Films and Culture

1,001 Movies Reviewed Before You Die

Where I Review One of the 1,001 Movies You Should Watch Before you Die Every Day

Movies Galore of Milwaukee

Movie Galore takes a look at Silent films on up to current in development projects and gives their own opinion on what really does happen in film!

The Catwing Has Landed

A Writer's Blog About Life and Random Things

mibih.wordpress.com/

Anime - Movies - Wrestling

Gabriel Diego Valdez

Movies and how they change you.

The Horror Incorporated Project

Lurking among the corpses are the body snatchers....plotting their next venture into the graveyard....the blood in your veins will run cold, your spine tingle, as you look into the terror of death in tonight's feature....come along with me into the chamber of horrors, for an excursion through.... Horror Incorporated!

Relatos desde mi ventana

Sentimientos, emociones y reflexiones

Teri again

Finding Me; A site about my life before and after a divorce

unveiled rhythms

Life In Verses

Gareth Roberts

Unorthodox Marketing & Strategy

leeg schrift

Taalarmen

100 Films in a Year

12 months. 100 films. Hopefully.

%d bloggers like this: