It wasn't until 2014 to reach the 3 increase

The verdict of the IMF experts to encrypt the budgetary needs of the Ireland, is without appeal. The country will fail to bring its public deficit within the European stability pact to the date scheduled by the Europeans and the Fund. The hole into the coffers of Dublin will still represent 4.8 of GDP by 2015 rather than the 3 desired by the European Union, said the IMF. Certainly, the Irish plan of fiscal consolidation between 2011 and 2014 is "broadly appropriate", admits the Fund. But the GDP growth will be in his less than that contemplated by Dublin, holding at the time on a more gradual resorption of the deficit in the accounts of the State.

Economists at the Fund, the average annual growth of the Ireland between 2012 and 2015 will be 2.75, or less than half of the 6 found between 2000 and 2007. Worse, even this "modest" growth would be vulnerable. Three risks weighing on the economy. First, the positive influence on the domestic activity of exporting firms may be limited. The current tax adjustment will affect consumption. Finally, the investments are likely to grow by about 10 per year by 2015, a rate which corresponds to only half of the historical rate. In fact, the re-engagement of the Irish economy will be very gradual. After a decline in real GDP by 0.2 in 2010, it should forward to 0.9 in 2011 to 1.9 in 2012. It wasn't until 2014 to reach the 3 increase.

The fate of the Irish debt will play for many in the field of banks refinancing needs. The Fund considers that the maximum amount that is allocated by the international aid plan (35 to 85 billion euros) is sufficient. The Ireland could benefit from a public debt dynamics more favourable if these requirements were lower than current expectations.

The necessities of public debt could be contained if the bank debt was restructured, noted experts. This is already the case for the nationalized institution Anglo-Irish. Other initiatives of this kind are planned for the financial institutions that have received public funding. Nevertheless, the IMF suggests, these potential positive developments do not circumvent a discussion on whether to adopt further austerity measures.

Public Dublin, to head IMF. This verdict indirectly brings water to the mill of the Moody's financial rating agency which has degraded the note of the debt of the country. Moody's table now on a ratio of debt to GDP of 120 in 2013, up from 66 in 2009. The IMF, meanwhile, predicted a similar ratio of 124,5 at the same time.

Satisfied with the assistance of the IMF and the European Union, the majority plan Irish (56) considers nonetheless that their country has abandoned a part of its sovereignty in accepting the plan, according to a survey published Saturday. Despite the situation, the Ireland leaves the euro, yesterday assured Foreign Minister Micheal Martin. For its part, the main opposition party called very unpopular Prime Minister Brian Cowen to dissolve Parliament to here at the end of January to pave the way for elections early.