The Irish Republic is poised to unveil the details of a severe austerity budget later, part of a deal to secure an €85bn bail-out from the European Union and International Monetary Fund.
Finance Minister Brian Lenihan is planning an initial €6bn (£5bn; $8bn) of cost cuts in the toughest budget in the country's history, the BBC reports. But the ruling Fianna Fail's slim majority means the vote to get it passed by parliament could be close. If the budget is cleared by parliament, it will trigger the first tranche of bail-out funds from the EU and IMF. Read more...
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