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Jorg Asmussen AP Photo/J. Scott Applewhite

German ECB economist urges Ireland to stick to €3.1 billion target

Jorg Asmussen said he thought Ireland had made significant progress.

AN INFLUENTIAL GERMAN economist and member of the European Central Bank (ECB) executive board, Jorg Asmussen has said it’s crucial that Ireland stick to the €3.1 billion target set by the Government.

Speaking on RTÉ’s The Business radio programme, he said that delaying adjustment would be a “risky strategy”.

He said “I would conclude that it is crucial that the authorities stick to the programme’s objectives as they have done in order to ensure that the country remains on a sustainable path”.

ESM

When asked if he thought there would ever be approval that the  European Stability Mechanism (ESM) would be used retroactively in recapitalisation, he said that as it stands now, he did not think the ESM could be used to retroactively fund Ireland’s bailout of the banks.

He said the mortgage arrears  is specifically important in Ireland, but said there is ongoing stress test for banks now.

He added that Ireland had made “significant progress so far”.

‘Austerity hawks’ want to use Ireland as ‘economic experiment’ – Gilmore>

ECB holds rates steady but remains ‘cautious’ about recovery>

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100 Comments
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    Mute ck
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    Feb 12th 2014, 11:16 PM

    Jebus. A wave from Kinsale made it up to the M4!

    211
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    Mute Caoimhe Fitzgerald
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    Feb 12th 2014, 10:52 PM

    Ffs will the weather just cop on already… If it insists on being sh*tty it should snow at least then we could have some fun with it

    146
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    Mute Scaldychops
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    Feb 12th 2014, 11:50 PM

    Watching too many US TV shows, Caoimhe?

    76
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    Mute Caoimhe Fitzgerald
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    Feb 13th 2014, 8:09 AM

    No I just prefer snow to rain- you can’t make a rain man now can you?

    34
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    Mute duckduckduck
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    Feb 13th 2014, 8:33 AM

    Tom Cruise can!

    50
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    Mute Rob Cahill
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    Feb 13th 2014, 9:14 AM

    He’s refering to tge already. . We dont say that here.

    3
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    Mute Joe O'Reilly
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    Feb 12th 2014, 10:51 PM

    Mind blown

    146
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    Mute John Hayes
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    Feb 12th 2014, 10:58 PM

    Hows prison Joe ? I’ll get me coat ….

    367
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    Mute John S
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    Feb 12th 2014, 11:31 PM

    Was Seamus out with a measuring tape?

    67
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    Mute Dennis Collins
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    Feb 13th 2014, 6:29 AM

    These spam bots are really out to catch the slowest in society. $21,432/$89 = 240 hours of work. Let’s say there’s 21 working days in a typical month, so just under 12 hours per day. Hardly “a few hours” now, is it?

    64
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    Mute cutsie
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    Feb 13th 2014, 6:33 AM

    Well if you’re willing to put the hours in i say go for it. I wonder what you have to do “on the laptop” !

    34
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    Mute Tim McCarthy
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    Feb 12th 2014, 10:49 PM

    Sure Cork is only massive :-)

    142
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    Mute Tom Collins
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    Feb 12th 2014, 11:08 PM

    Love some of the comments on here on response to the jokes that somehow this wave credits Cork. Some muppets out there portrait jealousy. Just too funny altogether!

    37
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    Mute Marc
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    Feb 12th 2014, 11:14 PM

    Ye know like, our waves are bigger than yours. Sleepy little Cork.

    111
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    Mute Tom Collins
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    Feb 12th 2014, 11:25 PM

    Great Marc, really happy for you. Congrats man

    31
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    Mute Marc
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    Feb 12th 2014, 11:37 PM

    Lighten up Tommy. Typical of you. No sense of humour….

    115
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    Mute Jed I. Knight
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    Feb 13th 2014, 7:21 AM

    Ye have to feel sorry for the poor ba**ard who has to measure those bloody waves.

    41
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    Mute hard yaka
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    Feb 12th 2014, 10:52 PM

    Ah but a cork man will tell you the alaskan waves arent as hard or mighty as the cork waves

    138
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    Mute Dermot O Dwyer
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    Feb 12th 2014, 11:34 PM

    Isnt it Gas that they never thought to get a picture of this massive wave from the platform….

    80
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    Mute Jed I. Knight
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    Feb 13th 2014, 7:18 AM

    They did… but with the 178km winds the camera is somewhere over Norway right now.

    103
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    Mute John Kelly
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    Feb 13th 2014, 12:08 AM

    Hi everybody big wave to you all on this mad day in Irish History.

    74
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    Mute Chief
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    Feb 12th 2014, 11:03 PM

    im waving at everyone right now

    66
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    Mute iBob101
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    Feb 13th 2014, 12:57 AM

    Soft day, thank God.

    66
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    Mute logs byrne
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    Feb 12th 2014, 10:50 PM

    Crab fishermen in Alaska fish in waves twice that size

    60
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    Mute James St John Smith
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    Feb 12th 2014, 10:58 PM

    Go join them

    258
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    Mute logs byrne
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    Feb 12th 2014, 11:11 PM

    And you wonder why all the weirdos stalk you,#creep

    27
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    Mute Ian Crowley
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    Feb 13th 2014, 6:33 AM

    You might be able to lie to your missus but we know that there’s a difference between a foot and a meter!

    47
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    Mute Tony Le Blanc
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    Feb 13th 2014, 9:45 AM

    160 foot waves? Oh dear.

    8
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    Mute Joseph Siddall
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    Feb 13th 2014, 5:30 PM

    Ian, correct. You can’t measure your gas usage with a foot but you can with a meter. A metre, on the other hand……….

    3
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    Mute Paul O Donnell
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    Feb 12th 2014, 11:31 PM

    Would all the cork people get on that wave and feic off…..

    56
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    Mute Marc
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    Feb 13th 2014, 12:21 AM

    You will have nobody to laugh at then.

    49
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    Mute Dexter Gordon
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    Feb 13th 2014, 1:29 AM

    What is it about Cork that fascinates non-Corkonians so much. They can’t all be envious.

    79
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    Mute Mark O'Hagan
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    Feb 12th 2014, 10:56 PM

    Predictive text will be the undoing of journalism. “Precious” record? Previous, surely.

    53
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    Mute Declan Carr
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    Feb 12th 2014, 11:17 PM

    Surf’s up.

    46
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    Mute matt Hanlon
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    Feb 12th 2014, 11:43 PM

    50 year storm man!!

    38
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    Mute Mick Buckley
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    Feb 12th 2014, 10:58 PM

    Do they measure every wave all around the coast?

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    Mute PerkyBeans
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    Feb 13th 2014, 2:00 PM

    No just the big ones

    3
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    Mute David Trappe
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    Feb 13th 2014, 12:45 AM

    How old is Kinsale Gas Platform exactly ?.,… Calm down, like this hasn’t happen before, jeus, sure wasn’t hurricane Charlie worse !. If that movie An Inconvenient Truth, hadn’t been released , Irish Media be like, sure another typical Irish day, All seasons in one day .. rather than the lame duck it has become sadly…… Granted the last few winters have been mild, ok that was put down to Climate change, Global warming….now we have a winter that is dull and stormy and its down to Climate change, Global warming. Make up your mind, which is it. If you are going to push it like a drug dealer, set a price at least ………. Oceanic currents work on a 60 year cycle at least. Some have seen better weather and worse than this before !

    31
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    Mute Drew Clarke
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    Feb 13th 2014, 12:50 AM

    ?

    20
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    Mute John Joyce
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    Feb 13th 2014, 9:31 AM

    Take your medication..

    13
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    Mute Rory J Leonard
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    Feb 13th 2014, 7:56 AM

    A water meter is it?

    31
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    Mute richardmccarthy
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    Feb 13th 2014, 1:20 AM

    Twenty five meters,thats roughtly around 82 feet,wow, i bet not to many brave soul wave riders would attempt that,plus the tidal currents around the Old Head are enought to make your head spin.

    28
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    Mute stephen g
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    Feb 12th 2014, 11:33 PM

    whateva about waves i hate the world…i wish i was living on another planet lite years from here

    27
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    Mute Joseph Siddall
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    Feb 13th 2014, 5:28 PM

    How much shorter than a light year is a lite year ? Has the speed of light increased, (in Cork) ?

    2
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    Mute Tom Fennelly
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    Feb 13th 2014, 8:18 AM

    Cork, Cork, Cork ! Sickens me, deepest water, heaviest snow, highest wave……. Dublin just announced the name of a guy going to contest the local elections and his domain name value (www.Kenneth Egan.com) has shot up in value to €600. Beat that ye hoors.

    12
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    Mute John Joyce
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    Feb 13th 2014, 9:37 AM

    You poor man

    13
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    Mute Ronan Kealy
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    Feb 13th 2014, 12:26 AM

    Holey shite!

    11
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    Mute jimmy john jimmy
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    Feb 13th 2014, 12:59 AM

    Goiengineering

    7
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    Mute Sean Walsh
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    Feb 16th 2014, 12:59 AM

    Hi everyone big wave from kinsale

    3
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    Mute Journal Man
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    Feb 13th 2014, 6:12 PM

    Did u know that witnessing big waves is a sign of big feet #shoes

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    Mute Michael James McCutcheon
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    Feb 14th 2014, 3:55 PM

    Did anyone surf it?

    1
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