Ireland hints at IMF intervention in bid to slash costs

mary-harney

Mary Harney, Ireland's health minister, warned on Friday that the country could face International Monetary Fund (IMF) intervention if it fails to implement the required cuts in December's budget.

Harney, a former deputy prime minister, said government expenditure had spiralled. "We're spending €500m ($747m) a week more than we're raising. That's an unsustainable situation," she said. Ireland's economy has been hit hard by the financial crisis and is expected to contract by 7% this year.

"If the

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