Tuesday, November 29, 2011

Uma longa austeridade para a Irlanda

Ireland Enduring a Long Age of Austerity (Wall Street Journal):

Ireland enters its second year in the ungentle embrace of its bailout providers facing a further €3.8 billion ($5 billion) of budget cuts. It is by general acclamation the star pupil among the growing group of euro-zone members that have lost the confidence of bond investors, and the closest thing the currency area has to a success story.

And yet it still faces massive challenges. Few Irish economists would argue that it is certain or even very likely to continue to meet its targets for cutting its budget deficit and repairing its banks. One reason for this is that it is becoming more difficult for Ireland to find buyers for its exports in the slowing economies of the euro zone and the U.K.

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