Irish stockbroker Davy sharply cuts its 2012 GDP growth estimate for the country to 0.4% from...

|By:, SA News Editor

Irish stockbroker Davy sharply cuts its 2012 GDP growth estimate for the country to 0.4% from 1.7%, citing the deteriorating outlook for the rest of the EU region. "(The) benign environment underpinning fiscal plans is unravelling," says the firm, expecting the government will not hit its deficit targets in 2012 or 2013. The meme of the "success" of the Irish bailout may get tested in 2012.