- 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.
- What has happened to food and energy prices and inflation in 2014?
- Both the Bank of England and the UK Public Finances are having a Mad Hatters Tea Party
- Invesco Perpetual's Mark Barnett on where UK equities go from here
- Mindful Money's weekly share-tips: Sports Direct, Reed Elsevier, Unilever, William Hill and WPP
- AstraZeneca gets a Pfizer boost
- The unanswered question - could new mortgage lending rules restrain house prices - outside London at least?
- Gap between investor income expectations and actual returns widens
- Consumer group Fairer Finance calls on banks and insurers to spare their customers the small print
- Despite greater pension freedom retirees are set to see their income collapse
- Lower earners and self employed may fail to get mortgages as big lenders' computerised decisions apply tougher lending rules