"The EU knows that Ireland needs a much bigger bailout if it is to succeed," she said. "This is an attempt to muddle through and hope trouble can be delayed and avoid coming to Spain and Portugal and ultimately Italy.
"This is not a bailout, it's a takeover by the EU Commission and IMF of the Irish Department of Finance. This theft of sovereignty is what awaits Portugal and Spain too, no doubt in quick succession. These boom and busts caused by an inappropriate Euro means austerity for the people while the EU bureaucrats demand higher pay rises. Utterly disgusting"
European Commissioner for Economic and Monetary Affairs Olli Rehn and Managing Director of the International Monetary Fund Dominique Strauss-Kahn said this morning:
"This program articulates a clear strategy for tackling today's problems and for harnessing the enormous growth potential of this open and dynamic economy. Swift and sustained implementation of this program will create a smaller banking sector that is robust and well capitalized, and able to serve the needs of Ireland's economy. It also offers a road map for sound public finances by setting strong, upfront actions in a multi-year framework."
"Their complacency knows no bounds," Andreasen said. "See how the markets are responding this morning. They do not look as if they believe Ireland is bailed out and frankly default is looking more likely".