Friday, November 12, 2010

John Montgomery reckons he has lost about 350 euros ($479) a month, or 25 percent of his disposable

IMF Shadow Looms as Irish Take Pay Cuts to Avoid Bailout

John Montgomery reckons he has lost about 350 euros ($479) a month, or 25 percent of his disposable income, because of lower pay and higher taxes since Ireland’s economy began to collapse in 2008. The father of a 10-month-old baby said he’s willing to take the hit, and more, as long as it helps Ireland avoid a rescue by the European Union and International Monetary Fund. The nation is saddled with a 20 billion-euro budget deficit and costs of as much as 50 billion euros to bail out five of its biggest banks. “I’d be a patriot like everybody else,” said Montgomery, who works in a Britvic Plc factory in Dublin making 7-Up and Pepsi soda under license.

Posted by mark @ 10:49 AM (892 views)
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