Lagarde Suggests Easing Ireland's Austerity Measures Could Have Been Slower

European Central Bank (ECB) President Christine Lagarde has suggested that austerity measures imposed in Ireland by the Troika after the 2010 bailout could have been introduced over 'more time' to alleviate their impact on the economy.

The €85 billion loan given to Ireland in late 2010 was part of a three-year period of intense austerity, which saw cuts to welfare and public sector pay, unemployment at 15.5%, and severely weakened economic activity.

Lagarde, who served as IMF managing director during that period, said 'Things can always be improved and can always be better' when discussing the benefit of hindsight in determining the correct course of action.

She acknowledged that Ireland's debt stood at 124% of GDP upon exiting the eurozone bailout program in 2013, but added that 'it's easy for experts to say 'Oh, this was not good or it was wrong'',