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The following article was published in our article directory on November 4, 2010.
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Irish Financial Constraints Fear of Inhibiting Economic Recovery

Article Category: Business

Author Name: xia zihui

Irish government announced end of last month, the Irish budget deficit of 144 million euros, the country plans to major cuts in 2011 budget. 2, Ireland sovereign credit default swaps (CDS) a new high, the date of the European Central Bank intervened to buy the Irish government bonds.

The next four years, saving 15 billion euros

Irish government said the end of last month, the country's budget deficit is lower than the same period last year to 227 million euros; the first ten months of the tax revenue totaled 24.7 billion euros, down from 26.1 billion euros a year earlier; but far more than the company expected revenue to offset the income tax to reduce the impact of 369 million euros.

Irish government said the budget deficit this year is expected to gross domestic product (GDP) share fell to 11.9%; in 2011, will continue to reduce the budget by 2011, and in the next four years, saving 15 billion euros. This goal, the more economists had expected to double. Irish government expects the budget deficit in 2014-GDP ratio to 32% from the end of 2009 plunged to below 3% of EU requirements, while billions of euros to repay government loans.

Analysts expect the Irish government will be announced on December 7 2011 Budget, the introduction of new regulations, including property tax, including a substantial deficit reduction and revenue measures.

Purchase bonds to support the European Central Bank

Fiscal tightening for fear of harm to the fragile economic recovery, 2-day survey, Ireland October consumer confidence index fell to 17-month low. October, the index fell to 48.1 from 52.4 in September, a 17-month low, but still higher than the year before last July's record low of 39.6 while.

KBC Bank chief economist Ha Fusi said the macroeconomic outlook, including Ireland, the Government rescue the banking industry costs and reduce expenditure, including a series of messages that consumers are scared, they are clearly aware that, by 2011, their own income and spending power will suffer a serious impact on the situation, quality of life will be severely affected.

Data show that, due to worrying prospects for economic recovery of Ireland, 2, Ireland 5-year sovereign bonds exceeded 500 basis points in CDS index, CDS prices increase by 27 basis points to 525 basis points, a record high; Irish 10-year Treasury note yield closing rate increased by about 30 basis points over comparable German bond yields poor expanded to 481 basis points, a record high.

2, in the Irish government bonds and the difference between German bond yields hit record highs on the occasion, the European Central Bank to buy just bought some Irish government bonds to support the increasingly high cost of financing the Government of Ireland.

About the Author: I am a editor,http://www.qualitydress.com provides 4 jaw chuck,new balance 8505,electric radiant heaters,welcome to visit!

Keywords: 4 jaw chuck,new balance 8505,electric radiant heaters,

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