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#VINB Thur 4/4/2013: IMF's report on Ireland


Norman Bates

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norman60bates
… at the slightly later time of 23:10 …

John Fitzgerald, ESRI Staff Details
Brigid Laffan, UCD UCD Dublin | Research | Politics & Int Relations
Fionnan Sheahan, Political Editor Irish Independent Irish Independent Columnists | Indo Newspaper Writers' Columns - Independent.ie
Michael Taft, Economist Unite https://twitter.com/notesonthefront

Ireland’s debt burden could climb to unsustainable levels if economic growth fails to materialise over the next few years and the banks need to be recapitalised, according to the IMF in its latest review of the economy.

As it stands, debt is forecast to peak at 122%, however, if the economy was to grow at an average rate of just 0.5% over the coming years, then debt would spiral to 134% by 2018. Bank of Ireland, AIB and Permanent TSB all face stress tests later this year. If the results find that the banks need fresh capital to withstand future losses, then that could add to government debt levels.

“Were such a scenario to arise, Ireland’s ability to rely fully on the market to cover its large post-programme financing needs could easily become strained,” said the IMF.
The IMF forecasts that Irish GDP will grow by 1.1% this year and 2.2% next year.

Even though Ireland still has many challenges, the view was that it was the most successful of the bailout countries, said Mr Beaumont of the IMF. And that is because this country “has taken ownership” of the bailout programme by designing and implementing many of its reform packages.

Unemployment is forecast to remain at elevated levels for the foreseeable future, according to the IMF. Structural reforms remain on target. Initiatives such as water charges and selling state assets “are at an advanced stage” and remain on schedule.

The covered bonds issued by the Irish banks in recent months had seen an increase in yields since the controversial bailout of the Cypriot banking system. But there had been no other impact on the Irish financial sector.

So that’s the report in a nutshell. What does #VINB’s panel make of it all. Are we on the right road? Should be an interesting discussion tonight …



European funding for banks could be
IMF report shows FG/Labour Govt
IMF's grim warning on recovery is aimed at EU hawks - Independent.ie
Debt burden could grow to
Ireland: Ninth Review Under the Extended Arrangement


http://www.politics.ie/forum/economy/207997-imf-report-irish-banks-achtung-achtung.html
http://www.politics.ie/forum/economy/208811-economic-recovery-medium-term-highly-uncertain-imf.html
http://www.politics.ie/forum/economy/144719-imf-eu-rescue-plan-memorandum.html
http://www.politics.ie/forum/european-treaty-2012-archive/184595-no-imf-without-esm.html

Paper preview:
Vinny himself
Colm Bodwen, retired Garda


Previous #VINB: http://www.politics.ie/forum/backstage/208807-vinb-wed-3-4-2013-troika-monthly-health-spending-reviews.html

Online: Aertv | Watch Irish TV live online Or tv3 catch-up through: Catch-up TV, Entertainment, News, Sport, Soaps and all your favourite Irish and International shows from TV3
 
Last edited:


off with their heads

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fantastic beaker will no doubt make a complete ass of himself as usual :D
 

turdsl

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Lets hope Fionnan is able to keep the temper under control tonight,
 

emulator

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MMmm I don't know now.

I can't stand Beaker or Laffan.... might wash my hair instead :)
 

carlovian

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Great op norm.

John Fitzgerald is always very good and measured.

And we get to see the vinny and Fionnan spat continue.

Count me in.
 

mr. jings

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What is it with Sheehan on VB these days? When did he get so fighty?
 

Ribeye

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MMmm I don't know now.

I can't stand Beaker or Laffan.... might wash my hair instead :)
Never mind your hair,

Stay here and laugh at the shill and the paid Eurobot avec Ribster,

:)
 

emulator

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Why would he?.... me thinks Fionnan is hoping to get a job in the political ranks!
I've had that thought for a while too.

While he may like to do it.... he has way too short a fuse which could be exploited quite easily for politics. Kinda like the HBAP of the VB show.... or this lad :shock:

[video=youtube;HHtOp8gBFmc]http://www.youtube.com/watch?v=HHtOp8gBFmc[/video]
 

Ribeye

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I've had that thought for a while too.

While he may like to do it.... he has way too short a fuse which could be exploited quite easily for politics. Kinda like the HBAP of the VB show.... or this lad :shock:

[video=youtube;HHtOp8gBFmc]http://www.youtube.com/watch?v=HHtOp8gBFmc[/video]
"back off, I'll come for you, full force, back off"

Lol:)

Enjoy Russia d1ckhead,
 

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