Ireland has been functioning thanks to rescue loans since 2010. The government has nationalized five banks and the country’s budget deficit will exceed 8 percent of output this year, European Union forecasts show.
Euro-area services and manufacturing output contracted at a slower pace than economists forecast in December as European leaders declared progress on the latest plan to combat the debt crisis, now entering its fourth year.
Analysts discuss the amount of government bonds purchased by the European Central Bank under its Securities Market Program last week when it began buying Italian and Spanish debt to contain the region’s fiscal crisis. The comments were collected from reports published by banks.