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Ireland Announce Austerity Measures, Plan to Exit Bailout

Minister for Finance Michael Noonan poses with the Budget 2014 on the steps of government building's, Dublin, Ireland.

Ireland Announce Austerity Measures, Plan to Exit Bailout


Ireland unveiled its seventh straight austerity budget Tuesday, a plan to slash 2.5 billion euros ($3.4 billion) from next year's deficit and pave the way for the nation to escape from its international bailout.

Finance Minister Michael Noonan told lawmakers he was confident that Ireland can resume normal borrowing on bond markets at affordable rates by December, when the country's bailout funds run out.