* Mounting anger as "bad bank" plan nears approval

* Reeling economy restricts government's options

* Many doubt the scheme can kick-start growth

By Steve Slater

DUBLIN, Nov 12 (Reuters) - A winter of discontent is in store, as the Irish fume at a bailout plan which could burden a generation, and they say is way too generous to the banks who lent so freely when the "Celtic Tiger" was roaring.

Nurses, fire-fighters, senior civil servants and thousands more public sector workers are theatening to strike if their pay is cut to limit the damage on public finances, which economists see as inevitable in next month's budget.

While the public complaints echo criticism of bailout plans around the world, the options facing Ireland's government are limited. Its economy will shrink by 7.5 percent this year, a steeper fall than any advanced country aside from Iceland, according to the International Monetary Fund's latest estimate.

A euro member, Ireland has one of Europe's biggest budget deficits. here The European Union has given it until 2014 to start shrinking it, but spending cuts are unavoidable.