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The Irish department of finance has made some tough decisions, with more on the way (Photo: EUobserver)

ECB urges Greece to follow Irish example

European Central Bank (ECB) chief Jean-Claude Trichet has urged the government of Greece to follow Ireland's example of taking tough decisions to bring its budget deficit down.

Forecasts suggest both countries will run deficits close to 12 percent of GDP this year, the highest amongst euro area members. The figures compare poorly to an EU average forecast of 6.9 percent.

The Irish government has won praise in financial quarters however by taking a number of drastic steps to tackl...

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The Irish department of finance has made some tough decisions, with more on the way (Photo: EUobserver)

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