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Europe Day Ahead: Ireland votes on EU fiscal pact

Wednesday, May 30, 2012 - 01:52

May 30 - Irish voters go to the polls in a referendum to accept or reject a fiscal compact between 25 EU member states that will require them to exercise greater budgetary discipline.

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European shares slipped on the Europe budgeted 23 month low as investors fret about Spanish borrowing costs. Worries too about whether China what act to stimulate its economy also denting confidence. Still European Commission president Jose Manuel Barroso tried to calm frazzled nerves saying Europe need to banking union would guarantee deposits to restore confidence. The best way to have more investment in Europe. He's stool parachute fiscal consolidation. And promote structural reforms. That's the best thing to beef gunships. Tool. Private investment. Looking ahead to Thursday and Ireland votes on a referendum to acceptable reject the European Union's stability treaty. Polls suggest the yes campaign is comfortably in the lead consequences Ireland -- the nose at the upper hand could be higher borrowing costs. What do we get a knife fight -- and on and calm -- -- get funding from the ESM which replaces the EFSF. Through July this year. I say think you need additional funding of markets remain closed than they would have to come up with essentially another deal and it would certainly have to agree. I can live by the fiscal compact. That's so essentially the referendum choice perhaps and perhaps goes by that stage. Also coming up price pressure is probably stayed high in the eurozone in May keeping interest rate cuts off the agenda for the time being. Unemployment in Germany probably fell by around 5000 in May bringing the rates close to a post unification -- And the second estimate of US first quarter GDP could contain an unpleasant surprise. But recent curable goods sold as well below full costs economists expect a -- headline figure from the 2.2 percent first estimate it. That's all from us and now I'm Nigel Stephenson this is what this.

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Europe Day Ahead: Ireland votes on EU fiscal pact

Wednesday, May 30, 2012 - 01:52