Taxpayers in Ireland have paid more than €220m in fees to
the EU and the IMF in the context of the country’s bailout, besides
€1.4bn in interest payments paid last year alone, according to the Irish
newspaper, The Independent. The fees, covering services including
administration, are charged whenever the Irish government receives a
loan or tranche under the €67bn programme.
According to the figures published in the newspaper, between 2010 and 2012, Ireland paid about €224m worth of fees. The Irish debt-management agency, the National Treasury Management Agency (NTMA), said the fees covered administration and service fees on loans drawn down under the EU/IMF programme.
More specific, in 2012, €67.3m were paid in fees down from €113.8m in 2011.The fall is due to the fact that less money was drawn down in 2012 compared to 2011. In 2010, the year the bailout was agreed, fees were €41.2m.
On the other hand, the conservative party Fianna Fail's Finance spokesman Michael McGrath has stated that the EU/IMF should not be collecting the fees, given that Ireland was "by far and away the best prospect of a eurozone country emerging successfully from a troika bailout programme".
He also added: "The troika is now insisting that the Government ploughs ahead with further tax increases and spending cuts of €3.1bn in October's Budget, with scant regard for the impact on our citizens. Given that over 90pc of the troika funding has now been drawn down, a suspension of these fees would yield minimal savings for the Exchequer at this stage. However, in recognition of the sacrifices made by the Irish people over the last number of years to get our public finances back on track, it would be a very welcome gesture if the troika were to repay the €224m collected in the fees to the Irish State."
by ;new europe
According to the figures published in the newspaper, between 2010 and 2012, Ireland paid about €224m worth of fees. The Irish debt-management agency, the National Treasury Management Agency (NTMA), said the fees covered administration and service fees on loans drawn down under the EU/IMF programme.
More specific, in 2012, €67.3m were paid in fees down from €113.8m in 2011.The fall is due to the fact that less money was drawn down in 2012 compared to 2011. In 2010, the year the bailout was agreed, fees were €41.2m.
On the other hand, the conservative party Fianna Fail's Finance spokesman Michael McGrath has stated that the EU/IMF should not be collecting the fees, given that Ireland was "by far and away the best prospect of a eurozone country emerging successfully from a troika bailout programme".
He also added: "The troika is now insisting that the Government ploughs ahead with further tax increases and spending cuts of €3.1bn in October's Budget, with scant regard for the impact on our citizens. Given that over 90pc of the troika funding has now been drawn down, a suspension of these fees would yield minimal savings for the Exchequer at this stage. However, in recognition of the sacrifices made by the Irish people over the last number of years to get our public finances back on track, it would be a very welcome gesture if the troika were to repay the €224m collected in the fees to the Irish State."
by ;new europe
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