- 15 November 2010
While Ireland may well have hoped that bold efforts to cut budget deficits would appease panicky bond markets,its plan has proved to be less than successful.
Schroders' David Scammell says that although the measures Ireland has taken should mean the end is in sight, the message is simply not getting through.
"The Stability Programme looks to be on track, the country is fully funded until mid 2011, but the fact is, the market isn't listening," he says.
On 4 November Ireland's government said that it planned budget cuts worth €6 billion (or 3.8% of GDP) next year, as reported in The Ecomomist .
The plan is to follow that with €9 billion of further measures in 2012-14. Further details are due to be set out later this month in a four-year economic plan.
- Where next for the economy of France? Two very divergent views have emerged
- Of generation gaps, falling annual inflation, shrinkflation and the UK economic outlook
- Hermès and Chanel handbags arriving by the dozen at pawnbrokers
- Key investment themes for 2014 - and top fund picks
- The implications of Warren Buffett's investment in Exxon Mobile for the energy sector
- DWP not passing full information about contracted-in losers to the Office for National Statistics due to 'workload'. It may rue that decision.
- UK construction revision boosts 2013 growth
- Brokers backing Dixons Retail as a 'buy' ahead of half-year market update
- Inheritance tax: Making it simple was harder than first thought. Some multiple trust arrangements facing new tax bills
- Ishares launches Eurozone equity ETF but with financials excluded