The IMF calls upon the EU to support Ireland because the eurozone crisis keeps affecting its economic prospects.
The IMF underlines that the Irish government is devoted to financial salvation. The authorities have already to approved numerous spending cuts and tax hikes. Moreover, the country will rely on private investors.
However, according to Craig Beaumont, IMF Mission Chief for Ireland, the EU should help Ireland get access to the debt market in 2013, the country’s economic prospects depend on the eurozone’s debt crisis.
As soon as Ireland’s export declines, its GDP will gain only 0.5% against 0.9% seen last year. The report warns that Ireland’s public debt will reach 118% of GDP in 2013.
Craig Beaumont said the parties managed to reach a consensus during the latest talks over the restructuring of those funds that were allocated for risky Irish banks.
According to the DFWA Department of , EURUSD seems to have reached the bottom around the heavy MA. The price will probably start consolidating between the green and orange lines (as shown below). Therefore, it is better to buy at the bottom and to sell at the top of this range.
