All the focus these days seem to be on the Middle East, but the Irish elections have drawn attention back to Ireland, though the Shares MSCI Ireland (NYSEArca: EIRL) exchange traded fund (ETF) has been lackluster since voting concluded.
Ireland will adhere to austerity measures, which were part conditions tacked onto a bailout agreement from the European Union and the International Monetary Fund, reports Javier E. David for The Wall Street Journal. [Ireland ETF Bounces Back; Economy, Not So Much.]
Last weekend, the Fine Gael party won the election, though it plans to work with the Labour party to draft a program for a coalition government. The most hot-button issue, however, is the timetable for chipping away at Ireland’s debt.
Since the elections, EIRL has barely moved in any direction, a signal that market watchers are taking a wait-and-see approach.