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Currency News – Ireland Doesn’t Know Where The Next Cuts Will Come From

When almost every country around the world is making big spending cuts, Ireland has been one of the most successful. As of now, they have made cuts equivalent to 13% of their GDP – that is a huge percentage when compared to other countries. But, the only problem is they need to make more cuts, and there are fewer and fewer places to make the cuts.

In the next few years, Ireland has to make another 12 billion Euros in cuts, but they don’t know where else the cuts can come from. Education spending has been cut drastically, taxes have risen, and many essential services are running at a bare bones level. They are willing to make more cuts, but there just isn’t anywhere to cut from.

What’s worse is that the Irish people are starting to lose their patience with the cuts that the government have already made. As time goes on, they are starting to see their quality of life deteriorate because of the cuts being made, and when they are paying relatively high taxes, they want to have a better life.

We will have to wait and see where the next round of cuts are going to come, but wherever they do, there is a good chance that the Irish won’t be happy.

 

Italy Will Pass Austerity Bill Quickly Says Berlusconi 

Silvio Berlusconi has promised that the austerity bill that parliament has been working on for the last little while will breeze through on its way to being signed into law without any large delays.

The Italian people have been very upset with the lack of action that has taken place in regards to this bill. Italy is in a dire financial situation, and the politicians who run the country have been making small changes and holding up any action to try and get the most personal benefit out of it as possible.

A lot of the blame has been put on the opposition and the media. Berlusconi has stated that a lot of the public unrest has been caused by biased reporting and incorrect information. He said that this kind of activity has made their allies unconfident in Italy’s ability to pass this bill and take their finances seriously. But, before the end of the week, a lot of the voting should be done on the bill and it should be signed into law hopefully sometime next week.

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