Lack of support from Europe is the main barrier to success of Ireland's programme
Published 21/05/2011 | 05:00
IN its first review of the Irish economic programme, the IMF has praised the Government for resolutely following the terms of the deal while criticising the EC and ECB for a lack of support.
"Risks to the programme," which according to the IMF were "already high at approval, have risen in some respects." And this applies in particular to "risks to regaining market access".
The fiscal plan is on track and the immediate financing need is actually lower than previously assumed, primarily reflecting a smaller net recapitalisation expense for banks.