Moody's expects the Irish economy over the next three to five years

internationally renowned rating agency Moody's Investors Service said on its Web site on the 19th,men were more nervous, given the weak economic outlook and the high Irish Bank assistance payment, the agency decided to cut the Irish government bond rating one grade down from the previous Aa1 Aa2, outlook remains stable.

Moody's vice president Dietmar Hornung said in a statement: \

Moody's expects the Irish economy over the next three to five years, sluggish growth, the economic development of the two engines - the banking and real estate in the next few years limited contribution to the country's economic growth.

have recently pointed out that the analyst, the Irish government invested heavily in the banking industry for the repair, it is very likely to Ireland this year's budget deficit to GDP ratio to 20% of the push. International Monetary Fund believes that Ireland is difficult to achieve the EU's budget deficit by 2014 the proportion of gross domestic product less than 3% of control requirements.

market analysts noted that the Irish ready this month on the 20th in the bond market for sale from 1 to 1.5 billion euros of government bonds. Moody's decision will undoubtedly increase the cost of financing the Government of Ireland. 19, Irish 10-year Treasury bond interest rate higher than the German interest rate 300 basis points over the same period, the highest since July 2 value.

due to high fiscal deficit, the Irish government austerity policies, hope that 2014 will be the fiscal deficit to GDP ratio from the current 11.7% to the EU, \