IHS Global forecasts that Ireland’s GDP will grow by only 0.9 percent next year.
This lack of action by central banks has clearly contributed to the pervasive negative mood felt by most investors.
Stocks rose on Thursday as signs of strength in the economy and higher-than-expected profit at FedEx outweighed a stark warning from the IMF about inaction over Europe's debt crisis.
Greece, one of the worst hit countries in the Eurozone crisis, may begin official negotiations to exit the Eurozone in 2012, according to Oliver Pursche, co-portfolio manager of GMG Defensive Beta Fund.
The International Monetary Fund stepped up pressure on Greece on Wednesday, saying promised reforms were behind schedule in most areas and the delays were stalling recovery from years of recession.
Greece wants to move fast in bailout talks with the EU, IMF and bankers, Finance Minister Evangelos Venizelos said on Monday, reaffirming the aim of clinching a voluntary debt restructuring deal by end-January before the country heads to elections.
An agreement reached by European countries for deeper economic integration was a step in the right direction but not a complete solution for the Eurozone's debt crisis, International Monetary Fund Economic Counsellor Olivier Blanchard said Sunday.
It was billed as a summit to save the euro. It may be remembered as the day Europe lost patience with Britain, as most of the continent threw its lot in with European Union founding members France and Germany and committed to binding their economies ever more tightly.
Hungary's government would like an aid package of between 10 billion euros and 15 billion euros from the European Union and International Monetary Fund to stabilize its economy, preferably on favorable terms, but it would be willing to accept a stricter deal, bank analysts said.
It seems that the former IMF Chief made a habit of attending group sex parties and orgies; something he himself admitted to, although he added that he never realized any woman in the party was paid for the sex.
Gold prices edged higher Friday after Eurozone leaders, in their eighth sovereign debt crisis summit this year, agreed to craft a treaty that will limit the ability of members to run-up unsustainable government debts.
Europe divided on Friday in a historic rift over building a fiscal union to preserve the euro, with a large majority of countries led by Germany and France agreeing to move ahead with a separate treaty, leaving Britain isolated.
European Union leaders paused from their summit after hours of talks focused on trying to find a solution to the euro zone debt crisis.
European leaders agreed on stricter budget rules for the euro zone Friday, but failed to secure changes to the EU treaty among all 27 member states, meaning a deal will instead have to involve just euro zone states and any others that want to join.
The European Central Bank doused on Thursday hopes it will aggressively ramp up its bond-buying program and allow the euro zone to lend money to IMF so it can help fight the Eurozone debt crisis.
The president of the European Commission appealed to EU leaders on Thursday to set aside their differences and unite to rescue the euro from a sovereign debt crisis that is menacing the world economy.
A Japanese government official said on Thursday he had not heard of a reported $600 billion IMF lending facility to help the euro zone, although Japan would consider providing bilateral loans to the Fund if warranted by developments in Europe.
U.S. equities rallied in the last hour of trading Wednesday, before retreating in the last few minutes, as rumors that a $600 billion International Monetary Fund Bailout of the European sovereigns was about to be announced swirled the market, only to be dispelled just before trading closed for the day.
The aftermath of the Arab Spring uprisings is at a critical juncture and economic growth in the Middle East and North Africa must include all members of society to fulfill the promise of the Arab Spring, according to Christine Lagarde, the International Monetary Fund (IMF) Chief, who spoke on Tuesday.
Partly owing to the huge sex scandal commenced by former French presidential candidate Dominique Strauss-Kahn in New York earlier this year, French Parliament will debate a bill to ban prostitution in France on Tuesday. If passed, it could become law next year.
European stocks and the euro slid and most bond yields rose after the threat from rating agency Standard & Poor's to downgrade Eurozone countries en masse if no credible plan to solve the debt crisis emerges at a summit later this week.
Biden met with Greece President Karolos Papoulias on Monday before beginning talks with new Greek Prime Minister Lucas Papademos. Biden arrived in Greece after traveling from Turkey. This week is seen as crucial for the struggling Eurozone. Italy's new government unveiled austerity measures that European leaders hope will be the start of a turning point in the struggle to keep the euro intact.
