Fitter Yet Fragile; The Irish Economy  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 406 no. 8817 (Jan. 2013), page 57.
Topik: Geographic Profiles; Bailouts; Economic Conditions; Gross Domestic Product--GDP; Bond Markets; Foreign Investment; Statistical Data; Sovereign Debt

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.75 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

The year 2013 will be when Europe needs to show that its recipe of austerity and reforms can work. Strong evidence for that would be if a bailed-out country could finance itself again. Hence the hopes invested in Ireland, which entered its rescue programme in 2010 and is scheduled to make a full return to the bond markets at the end of 2013. The markets seem to be signalling it can be done. Yields on Irish government bonds maturing in 2020 fell from 8.5% at the start of 2012 to 4.5% by the end of the year. There are stirrings of life in the battered Irish economy. Although GDP is thought by the IMF to have grown by only 0.4% in 2012, that compares well with deep recessions in Italy and Spain and followed a 1.4% rise in 2011. Irish exports actually exceed the value of GDP. The contribution from net trade--exports less imports--has more than offset falls in domestic demand, which remains traumatised by excessive debt. Ireland's vulnerabilities explain why the IMF wants Ireland's European creditors to give it more help.

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