DUBLIN, Ireland — Ireland has unveiled the harshest budget measures in its history, a four-year plan cut $13.3 billion from spending and raise $6.7 billion in extra taxes to combat Europe’s worst deficit.
The government’s austerity plan is a prerequisite for Ireland to get an EU-IMF loan estimated to total $115 billion.
Ireland hopes the tough medicine will permit its 2014 deficit to fall to 3 percent of gross domestic product, the euro-zone limit. Ireland’s deficit this year is forecast to reach 32 percent, a modern European record.
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