05 Dec '11, 12am

Irish PM warns of tough austerity budget

Irish PM warns of tough austerity budget

DUBLIN: Ireland's Prime Minister Enda Kenny on Sunday warned its citizens to brace for several years of economic hardship during an historic televised address on the eve of a harsh austerity budget. "This budget will be tough -- it has to be," Kenny said in his ten-minute prime-time address. He also revealed the state was spending 16 billion euros ($21.4 billion) a year more than was being taken in. Kenny said he was making the rare "state of the nation" address in advance of the 3.8 billion euro austerity budget to tell people directly about the challenges the country faces. "I know this is an exceptional event, but we live in exceptional times and we face an exceptional challenge," he warned. "At the end of last year our economy was in deep crisis and... we remain in crisis today," he added. "I would love to tell you tonight that our economic problems are solved and that...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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