Irish debate on bailout bill resuming

[January 29, 2011]  DUBLIN (AP) -- The upper house of the Irish legislature is preparing to resume debate on a contentious Finance Bill needed to comply with terms of the country's international bailout.

The lower house is standing by to reconvene Saturday evening if the upper house makes any amendments to the bill.

The Finance Bill is designed to comply with a massive international rescue loan. The European Union-International Monetary Fund support is contingent on Ireland cutting euro15 billion ($20.56 billion) from its deficit spending over the coming four years and is imposing the harshest cuts this year.

If the bill passes as expected, Prime Minister Brian Cowen says he will seek dissolution of the legislature on Tuesday, setting the stage for a national election.

[Associated Press]

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