“There is a consciousness about contagion but certainly the authorities I have spoken to believe they can prevent contagion spreading to Ireland and Portugal but they have some concerns about the bigger European countries and they are going to draw the line there,” commented Finance Minister Michael Noonan at Irish Central.
The government projects average economic growth of 2.3% between 2011 and 2014, but the current economic environment suggests the forecast may be too optimistic.
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Max Chen contributed to this article.