Ireland Plunges Eur15bn in the Red ; Banks Bail-Out & Falling Taxes Fuel Economic Crisis

Daily MirrorJuly 03, 2009

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Summary


THE country's finances plunged almost EUR15billion into the red during the first six months of the year, figures revealed last night.

Plummeting tax receipts and the cost of bailing out the banks has left the budget deficit EUR9billion worse off than this time last year.

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Ireland Plunges Eur15bn in the Red ; Banks Bail-Out & Falling Taxes Fuel Economic Crisis

The Department of Finance said the shortfall was due to a payment of EUR3 billion for ban...

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