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

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    Politics.ie Member Norman Bates's Avatar
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    Default #VINB Thur 4/4/2013: IMF's report on Ireland

    … 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...g-achtung.html
    http://www.politics.ie/forum/economy...rtain-imf.html
    http://www.politics.ie/forum/economy...emorandum.html
    http://www.politics.ie/forum/europea...thout-esm.html

    Paper preview:
    Vinny himself
    Colm Bodwen, retired Garda


    Previous #VINB: http://www.politics.ie/forum/backsta...g-reviews.html

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    Last edited by Norman Bates; 5th April 2013 at 12:55 AM. Reason: panel update

  2. #2

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    fantastic beaker will no doubt make a complete ass of himself as usual
    i owe my allegiance only to the working class

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

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    Politics.ie Member emulator's Avatar
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    MMmm I don't know now.

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

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    Quote Originally Posted by emulator View Post
    MMmm I don't know now.

    I can't stand Beaker or Laffan.... might wash my hair instead
    +1

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    Politics.ie Member carlovian's Avatar
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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.
    I believe that children are the future

    Unless we stop them now.

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    Politics.ie Member powderfinger's Avatar
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    That Tonight line up could work in Muppet.


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    Politics.ie Member mr. jings's Avatar
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    What is it with Sheehan on VB these days? When did he get so fighty?

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    Politics.ie Member emulator's Avatar
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    Quote Originally Posted by SayItAintSo View Post
    +1
    In all fairness.... it'd take me about 15 seconds. I'll probably end up watching it anyway....

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    Quote Originally Posted by turdsl View Post
    Lets hope Fionnan is able to keep the temper under control tonight,

    Why would he?.... me thinks Fionnan is hoping to get a job in the political ranks!

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