Ireland government approved next year's budget plan, which aims to reduce the country's debt to nearly half. The budget passed the vote in the parliament with 156 vote in-favor and 142 votes against.

The budget includes €14.0 billion in spending cuts that would slash the deficit in the budget to 7.4 percent of GDP in 2011, compared with 2010 deficit of 9.4% of GDP. Ireland Finance Minister George Papaconstantinou said that I am not calling on you to vote for this because it leads us to the road to salvation, I call on you to vote for this because it is a punctual continuation of a plan we committed to, so we can respect the sacrifice Greek citizens made in 2010.