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Irish financial woes shouldn't affect Manx economy

The treasury minister has told Tynwald the problems facing the Irish economy shouldn't have a direct affect on the Isle of Man.

Anne Craine was replying to a question from North Douglas MHK Bill Henderson.

The Irish government has had to make critical adjustment to public finances and cut 4 billion euros from spending in the current year, with a further 3 billion cut expected next year.

Several Irish banks trade on the Island, but Mrs Craine doesn't believes the Manx economy is in any direct danger as a result of their presence:

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