JULIAN JESSOP | CAPITAL ECONOMICS
The price of international support may be an even tougher period of fiscal austerity, which ultimately risks an even deeper recession. Ireland therefore still has a mountain to climb.
JAMIE STUTTARD | SCHRODERS
The plans will involve further fiscal austerity. For those looking at the potential economic impact, it should be noted that the Greek economy is currently contracting at 4.5 per cent of GDP.
JOHN HARDY | SAXO BANK
The initial response was a spurt of euro-buying, as Irish bond spreads have come in sharply. But spreads on the other PIG countries failed to improve, as focus shifted – as expected – to the next dominos in line at the Eurozone periphery.