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Kenny: Troika agrees Ireland can invest privatisation proceeds

Scofflaw · 2012-02-05 16:17:11

http://www.reuters.com/article/2012/02/05/ireland-lender-idUSS8E7LF00N20120205 I don't know whether he's being premature here - the issue certainly came up at the last troika press conference, but what the troika representatives said then was that they would like to see a sufficiently "ambitious" plan by the Irish…

05-02-2012 4:17pm

#1

Scofflaw

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Ireland's EU/IMF lenders have agreed to let it invest much of the cash it gets from privatisation rather than use it to pay down debts, if the proceeds are substantial, the Irish prime minister said on Sunday.

Ireland's troika of lenders, the European Central Bank, the European Union and the International Monetary Fund, earlier indicated that privatisation proceeds should be used to cut the national debt.

"The troika are agreed that depending on the scale of these sale of assets ... that a substantial amount of the assets received ... can be invested in job creation," Prime Minister Enda Kenny told state broadcaster RTE on Sunday.

"That is a significant change from where the troika were when these discussions started."

http://www.reuters.com/article/2012/02/05/ireland-lender-idUSS8E7LF00N20120205

I don't know whether he's being premature here - the issue certainly came up at the last troika press conference, but what the troika representatives said then was that they would like to see a sufficiently "ambitious" plan by the Irish government before committing themselves to agreeing such a move. And the government was more or less claiming in advance of that press conference that the troika were going to allow the proceeds of privatisation to be used as part of the jobs creation package, which was definitely premature at that stage.

cordially,
Scofflaw

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