The Tanaiste has warned austerity hawks that Ireland will not be treated like an "economic experiment," and said the €3.1 billion in budget cuts for next year, demanded by the Troika, should be scaled back.

In an interview with the Financial Times, Eamon Gilmore said the full 3.1 billion euro in cuts is not needed to meet Ireland's deficit target and he said investors will not question our commitment to financial discipline if it eases up in 2014.

The Tanaiste also called on Jean Claude Trichet to give evidence at the forthcoming banking inquiry because he was the ECB chief at the time of the economic crash.