|By STEPHEN CASTLE|
The announcement, issued on Saturday, suggested that the 17-nation euro zone could pass a significant psychological threshold this year. If Mr. Kenny’s timetable holds,
“Ireland is on track to exit the E.U.-I.M.F. bailout on Dec. 15,”
Analysts, however, warned that the situation in the euro zone remained fragile, with feeble economic growth and the risk of political instability as voters tire of austerity policies blamed for deepening recessions and worsening joblessness.
The government in
Ireland’s existing loans to international lenders will still need to be repaid, however, and these repayments will take many years to complete.
But as insurance against potential troubles with righting its finances,
“If Ireland can’t make the strategy a success, it’s difficult to see who can in the euro zone,”
He added: “For the euro zone, things are still in the balance, and the outlook for growth looks very weak. The recession does appear to be coming to an end, but there is a difference between that and a sustained economic recovery.”
Ireland’s growth prospects have been aided by the recovery outside the euro area, including in its close trading partner,
On Saturday, Finance Minister
“The cash buffers have given us the kind of backstop that we need,” he said, Reuters reported.
In a statement,
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|Source:||New York Times Digital|