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Flower-sellers on Dublin's Moore Street. Irish shoppers are in no Christmas mood (Photo: EUobserver)

Irish face Christmas of austerity as EU announces loan calendar

The mood on the streets of Dublin is noticeably subdued for this time of year as Irish citizens knuckle down to a tough Christmas of austerity. The European Commission, meanwhile, has announced that EU rescue funds will provide the country's government with €40.2 billion in 2011 and 2012 as part of an international aid package agreed last month.

In a statement on Tuesday (21 December), the commission said EU rescue funds would start issuing bonds early in the new year in order to raise...

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Flower-sellers on Dublin's Moore Street. Irish shoppers are in no Christmas mood (Photo: EUobserver)

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