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Ireland: Financial Assistance

My Lords, perhaps I may draw the Minister's attention to Wolfgang Münchau’s statement in today's Financial Times. He wrote: "““At a time of extreme fiscal tightening, moderate monetary tightening and weak global demand, I fail to see where Ireland will grow””." Perhaps the Minister will explain how he sees that Ireland will grow, and how its programme of accelerated fiscal austerity as a condition of the bailout will encourage growth in the Irish economy.