First economic review pass Irish

15 April 2011 last updated at 13: 56 GMT support by the Government of the Republic of Ireland banks was one of the main reasons for the Bail-Out the Ireland's progress on the deficit reduction by the European authorities - approved a condition of last year the Bail-Out.

You have seen performance during the first three months of the Republic and said have that it has achieved its objectives.

Minister of Finance of the country, Michael Noonan, said a press conference that had been the bodies "very free".

Earlier, its credit rating was cut again on concern about the financial strength.

The credit rating agency of Moody's as the country that one of the two places on the scale marked status only a hack of "Junk".

Usually, such a move means that the Government to borrow more money to pay.

An Irish rescue package worth 85bn agreed euro (£ 70bn, $113bn) European authorities and the International Monetary Fund (IMF) - 17.5bn banking sector come from the country - if it could no longer cope with its debt, largely overwhelmed the result for his.

Continue reading the most important story Joe Lynam BBC News

Moody's timing are not really the Irish Government today. After two weeks in the cost of borrowing for Ireland please had, results in the today's downgrade Baa3 or above on the "junk" status, pushing 10-year bond back up.

The new coalition in Dublin had hoped, trumpet the IMF/ECB/European Commission report on the progress of the Irish economy always be down deficit. The IMF et al signed off on plans by Dublin to tweak the conditions of the original Bail-Out deal last December year.

But its growth forecasts for 2011 to Karg revised the international bodies also down 0.5% - making it harder to the deficit from your current 10% to its target of 3% by 2015 to cut.

Separately, the Republic in talks is to interest with its European partners, the 5.8% billion pay €67 by the IMF, the ECB and the European Commission on loan.

Tough Mr. Noonan said that certain changes, including the resolution of a cut in the minimum wage had given the authorities behind the Bail-Out, the EU, the IMF and the European Central Bank.

The Bail-Out came with strict conditions, including an interest rate that the newly elected Government said was too high, and promised, it reduces.

Mr. Noonan said "significant progress" on this issue on the last week of meeting in Hungary to have been achieved.

He said, he again next month would take the matter at a meeting of eurozone finance ministers.

The final review documents would be made public once final approval on May 15-16 had been Mr. Noonan said.

Moody's cut, which the Republic credit score on Friday to Baa3 - a level above junk-bond status - say it could be its budget deficit due to the weaker than expected economic growth cut fight.

It stands alone but among the three leading rating agencies. On Thursday Fitch upgraded ratings his Outlook, while standard & poor's are the same grade as Fitch Republic.

It has a target, the gap between government income and cut expenditure to 3% of gross domestic product by 2015.

The Republic 2010 deficit hit a European record time of 32% after it verkrüppelten from its banks saved.

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Us warned on lack of deficit plan

18 April 2011 last updated at 16: 42 GMT Republicans push on plans massive cut government expenditure of US warned has been that the its national debt by standard & poor's credit rating could be cut.

S & P is concerned, that Democrats and Republicans no plan to reduce the growing US deficit agree with can.

It has its Outlook from stable to negative, increasing the probability that the rate could be cut within the next two years downgraded.

The US Treasury replied that S & P had underestimated its ability to deal with the public debt.

"Since the United States have, relative to the 'AAA' [top rated] people like what we think huge budget deficits and rising debt of the Government and the path to the addressing this is clear not us, we have our Outlook on the long-term rating revised, stable to negative" the Agency said in a statement.

The surprise move sent to reduce us and European shares. The S & P 500 fell the most in a month, and US dollar fell against the euro and Swiss franc. Oil was also significantly lower.

In Europe the UK, German and French fell main indexes all at least 2%.

The US deficit fédéral currently amounts to $1. 4tn (£ 858bn) and is expected to reach $1. 5tn in the current financial year.

Budget battle

President Barack Obama proposed that could plunge the world into a new recession, when the ceiling for money that can hire the United States is not raised in the next few weeks, before the current debt of $14. 3tn.

Read the main story of Mr Obama continues and the Republicans in a battle over the extent of expenditure locked cuts are.

The House of representatives Republicans controlled budget, which aims, 2012 has a $6. 2tn expenditure by the Government over the next decade cut passed.

But the Bill is expected not to make the Democratic-led Senate.

The current battle is now about issues by 1 October. Last week Congress passed a budget bill, the $38 billion in public spending on the rest of the current financial year until would cut to 30 September.

Last week, Mr Obama laid out his plan to reduce the budget deficit to $4tn 12 years.

'Political judgment'

Austan Goolsbee, Chief Economist of the President of economic recovery Advisory Board, U.S. dismissed the change in Outlook in the production of the rounds on cable networks.

Ajay Rajadhyaksha, head of fixed income at Barclays Capital in New York reviewed the U.S. deficit dilemma

"What does the S & P is a political decision, and it is one, we do not agree with", he told CNBC.

The S & P Outlook cut comes after the International Monetary Fund (IMF) last week before warned that the size of instability of financial markets created the U.S. deficit.

In a statement, S & P was positive about the General State of the US economy, but said: "we believe that it material risk that no agreement on the response of medium- and long-term fiscal challenges could reach U.S. policy makers by 2013."

"If an is not agreement and meaningful implementation is not started until then would this we believe that the U.S. tax profile useful weaker than the peer"AAA"sovereigns play."

'Wake-up call'

The United States have the top AAA rating for the long-term bonds.

Because the United States are the world's largest economy and its debt is the backbone of the global financial system, concern about the U.S. created ability, his debt to pay huge waves in the world economy.

"It is a wake-up call that we need to do something," says Axel Merk, currency Fund Manager in California. S & P is "must be absolutely right that this treated that something serious."

But the US Treasury responds strongly to the change in Outlook.

"We believe that S & P's negative Outlook the ability of America's leaders, together, to the difficult fiscal challenges of the nation underestimated address," he said.

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Japan downgrades Economic Outlook

13 April 2011, last updated at 07:19 am the earthquake and tsunami caused widespread damage to Japan's North East coast of the Japanese Government has its assessment of the economy in the wake of the devastation caused by earthquake and tsunami of last month downgraded.

It said key sectors of the economy, including industrial production and exports would suffer.

The decision is that the Government of the evaluation has downgraded the first time in six months.

Monetary Fund (IMF) raised its forecast for Japanese growth cut the international on Monday.

"The economy is weakness recently due to the impact of the earthquake great East Japan shows", the Japanese Government said in your monthly economic report.

"It remains in a grave condition".

Down

The disaster affected many companies, the operations in the North East of Japan, had factories and supply chain blocks to destroy.

Current deficiency caused by the crisis in the nuclear power plant should Fukushima Daiichi in the summer.

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the condition of the economy is not more flat or in a stationary position, but the direction is down "

end quote Shigeru Sugihara Cabinet Office the power loss resulted in roles blackouts, production on some of the largest companies in the country."

The Government has warned, that this deficiency can say the negative impact exports items as manufacturers battle to their production lines back to full capacity reject.

Japan's economy was already before the earthquake and the tsunami hit on 11 March come from the global financial crisis were fighting.

Analysts say the twin natural disasters further back, that set recovery process.

"The condition of the economy is not more flat or in a stationary position, but the direction is down," said Shigeru Sugihara, Director of macro-economic analysts in the Cabinet Office.

Japan is estimated that reconstruction will cost up to 25 trillion yen ($295bn).

Nuclear crisis

The true human costs of the disaster is one month on is still unclear. The official death toll is 13,333, with more than 15,000 people still untreated for. More than 150,000 people have been made homeless.

In addition to the impact is a national mood of self-restraint. In sympathy with the victims, people in other parts of Japan have back on consumption was cut.

One month after the quake, engineers trying still to stop Fukushima reactors from overheating

Prime Minister Naoto Kan urged a return to normality, not for those living in areas affected.

"Let's life normally without in excessive self control." A new future, to build "he said in a televised speech late on Tuesday."

Now workers are crucial in the crippled nuclear power plant Fukushima Daiichi knocked restore tsunami cooling systems through the fight, and one avert large scale release of radiation.

Accommodation, engineers siphoned off 250 tons of highly radioactive run-off water in place storage facilities.

Raised on Tuesday, Japan's nuclear and industrial Agency, seven of the the crisis in the work at the highest level.

The decision reflects the entire publication of radiation on the plant, which is in progress, rather than a sudden deterioration.

Level seven previously only on the disaster at Chernobyl in the Ukraine, where 10 times more radiation emitted was applied in 1986.

Mr Kan said that "step by step the reactors in Fukushima Prefecture, Japan move Daiichi power station in the direction of stability".

There were no fatalities through the holes in Fukushima, and risks to human health are as low enough.

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US inflation is 2.7% in March

15 April 2011 last updated at 15:06 am rising gasoline prices are rising US Food and gas prices drive inflation in which increased the annual rate of US inflation of 2.1% in February to 2.7% in March.

From the consumer price pay the US Labor Department showed the gain between February and March at 0.5%.

Gasoline prices and food together was almost three quarters of annual increment, leave in addition to the rise was only 1.2%.

As in the rest of the world, fuel and food prices in the United States have risen sharply.

Gasoline prices were for the ninth consecutive month, by 5.6% reflects the steady increase in oil prices in recent months.

Food prices rose in February by 0.8%, the largest monthly increase since July 2008.

Food and energy prices costs the increase was only 1.2%.

Wages and salaries in the United States grow hardly that limits the ability of retailers to increase prices.

Rising oil and commodity prices pushing up prices to inflation all over the world.

Also on Friday published figures showed that consumer prices in China rose by 5.6% in March and by 2.7% in the euro area. The Indian Government said that the inflation rate reached 8.9% in February.

A separate Government report on Friday was hourly earnings for all employees, adjusted for inflation, in real terms by 1% in the last year.

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G20 agrees opportunities to the risk measure

15 April 2011 last updated at 22: 08 GMT French Finance Minister Christine Lagarde (R) chaired the meeting of Finance Ministers and central bankers from the G20 Summit have a number of "indicative guidelines" agreed to measure the potential risks for the global economy by the national economic policies.

All members of the G20 Summit will be monitored under the new system.

In addition to members that a deeper, second stage analysis of imbalances are subject to for more than 5% of the overall economic performance of G20 account.

These include the United States, China, Japan, Germany and France.

This is to "reflect the greater potential for spill over effects of larger economies", the group said.

The G20 not formally the countries, where this up would apply, but French Finance Minister Christine Lagarde said that France one of the seven total higher control would face.

The Group was meeting in Washington in front of the spring meetings of the World Bank and the International Monetary Fund (IMF).

The g-20 accounts for 85% of worldwide and is now the main forum for the trial of the world financial system reform.

Imbalances

Many economists believe that global imbalances contributed to the recent financial crisis.

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the guidelines are a bit like a network, which actually holds the countries that violate or do not respect the guidelines "

end quote French Finance Minister Christine Lagarde emerging market countries reinvested their surpluses in Western markets, that banks", excessive risks, so the argument goes.

Finance Ministers agree that they must find a solution for this type of imbalance.

But countries on how quickly they need to act, do not agree to.

China acknowledges that it must open its economy and allow its currency, the Yuan, to get more, but it you want at his own pace.

The United States, on the other hand, that would like to see happen much faster.

Monitoring methods

After its last meeting in February, the group reached an agreement on the indicators to recognize the economic imbalances.

The Washington Business measurement applies to these indicators, public debts and deficits, and private debt and savings rates.

In its latest Communique said the G20, their monitoring four approaches would use:

Estimate what should look like a country imbalances, such as the use of economic models specifically for the Countrylooking in a land imbalances in terms of their national historical Trendscomparing a country imbalances with groups of similar Countriescomparing of a country imbalances with the full G20.

The last three approaches used statistics from 1990 to 2004, "such as this time, which is the large building in external imbalances, advance", the Communique said.

Watch: European policy makers becoming complacent over economic recovery

"Incoming identified these countries by at least two of the four approaches such as with persistently large imbalances to determine in a second step, the nature and root is evaluated to identify causes for their disparities and barriers to adaptation," the group said.

The second step of the review would be carried out independently by the IMF.

"The guidelines a bit like a network run actually contains which of the countries which violate or do not respect the guidelines," said Mrs Lagarde, which currently holds the Presidency of the G20 Summit chaired of the meeting such as France.

"And the network is a little close for the countries that are considered systemically important, as they represent more than 5% of GDP [gross domestic product] of the G20."

However, the Group has no mention of any "Name and shame" list, which would identify the members in the most risky positions.

'No complacency'

Although the world economy on the road to recovery seems to be the meeting at a time was when many threats to growth remain.

The challenges are unrest in the Middle East, high oil prices, sustained inflation in China and debt problems in Europe.

The Director of the IMF, Dominique Strauss-Kahn, told the BBC that some policymakers thought "the crisis behind us" and it was "the wrong attitude".

In Europe, he said, was no room for complacency about high debt.

"Much more to be done by the Europeans to resolve the debt problem []," he said.

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World Bank chief warns against the crisis

17 April 2011 last updated at 08: 54 GMT Mr Zoellick said the world should not forget that the lesson of last financial CrisisThe has warned President of the World Bank, that the world "a strike away from a full blown crisis".

Robert Zoellick cited as the greatest threat to poor countries, the risk "a generation" rising food prices.

He was speaking in Washington at the end of the spring meetings of the World Bank and International Monetary Fund.

In the meantime G20 pledged finance chiefs, who met in Washington, financial support for new Governments in the Middle East and North Africa to help.

Mr Zoellick said that this support was vital.

"The crisis in the Middle East and North Africa underlines how we must the conclusions of our latest world development report into practice." The report highlighted the importance of the safety of citizens, justice and jobs, "he said."

He demanded the World Bank also quickly Act, support to reforms in the region.

"Waiting for the situation stabilize will mean lost opportunities." "Revolutionary moments no winning hand is the status quo."

The Washington meeting, turbulence in the Middle East, volatile oil prices and high unemployment also came to the language.

IMF chief Dominique Strauss-Kahn raised special concerns about high unemployment among young people.

"It is probably too much to say that there is a jobless recovery, but it certainly is a restore with not enough jobs," he said.

He said "in particular because of the youth unemployment... the danger is now, that this will be transformed in a life sentence, and there is the possibility of a lost generation".

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Food prices threaten millions

14 April 2011 last updated is at 16: 32 GMT which ignore World Bank President InflationThe that World Bank warned that rising food prices, driven by rising fuel costs, pushing millions of people in extreme poverty not to eat Guide.

World of food prices are driven by problems in the Middle East and North Africa, 36% above the level of the previous year, and remain volatile, the Bank said.

Since June last year has pushed the 44 million people in poverty.

A further 10% would boost more below the extreme 10 m $1.25 (76 p) move to the day, the Bank said.

And before that, it warned that a hike could lead 30% costs in the price of Staples more arms to 34 million.

"Protect the poor"

The World Bank estimates there are about 1.2 billion people of less than $1.25 a day life.

"More poor people suffer and arms could be due to the high and volatile food, more people," said World Bank President Robert Zoellick.

"We have to eat first place and to protect the poor and weak, spend most of their money on food."

Mr Zoellick said later in the week before the IMF and World Bank spring meetings.

The meetings are the Finance Ministers and central bankers, including Finance Minister George Osborne and Governor of the Bank of England, Mervyn King will take part.

Nutrition

The World Bank says that basic commodity prices close 2008 all remain very fast at their peak with the prices of wheat, corn and soy beans.

The only exception is rice, which is slightly declined in price last year.

The Bank proposes a series of measures to reduce the impact of high food prices on the poor.

These foods include promoting-producing countries to facilitate export controls, and production of biofuels production redirect, when you exceed certain limits food prices...

Other recommendations include for social assistance and food programs to the poorest, better to make more nutritious weather forecast, more investment in agriculture, the adoption of new technologies - such as rice fortification, and efforts to combat climate change.

He also said financial measures are necessary, are subject to poor countries to prevent volatility of food.

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