Eurozone turmoil poses ‘serious threat’ to Irish economy

The turmoil in the eurozone was posing a serious threat to Ireland’s efforts to stabilise its debt burden and return to healthy economic growth, according to the International Monetary Fund.

In its latest report on the Irish economy issued on the 20 December 2011, the fund cut its forecast for economic growth in Ireland in 2012 by almost half, and said that the downside risks to growth had increased.

ESO: Background information: Ireland sets out new round of spending cuts http://www.europeansources.info/record/ireland-sets-out-new-round-of-spending-cuts/

ESO: Background information: European Commission report concludes progress on fiscal, economic and structural reforms in Ireland http://www.europeansources.info/record/memo-european-commission-report-concludes-progress-on-fiscal-economic-and-structural-reforms-in-ireland/

IMF: Ireland the IMF http://www.imf.org/external/country/IRL/index.htm

IMF: Country Report, No.356, 2011: Ireland: Fourth Review Under the Extended Arrangement and Request for Rephasing of the Arrangement—Staff Report; Letter of Intent; Memorandum of Economic and Financial Policies; Technical Memorandum of Understanding; Letter of Intent and Memorandum of Understanding on Specific Economic Policy Conditionality (College of Commissioners); Staff Supplement; Press Release on the Executive Board Discussion. http://www.imf.org/external/pubs/ft/scr/2011/cr11356.pdf

Irish Times, 20.12.11: IMF urges EU support for Ireland http://www.irishtimes.com/newspaper/breaking/2011/1220/breaking2.html

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