What the EU said about Irish finances

UPDATE: the text of the European Commission's release regarding its decision to greenlight €5.8 billion in funding for Ireland following a joint review with the IMF:

Post Reporter

@businessposthq

1st March, 2012

"Key challenges and risks in the period ahead are associated with the potential for further financial market turbulence in the euro area."

The following is the full text of the European Commission's release regarding its decision to greenlight €5.8 billion in funding for Ireland following a joint review with the IMF:

Ireland's real GDP is estimated to have returned to positive growth in 2011 (0.9%) on account of strong exports, aided by recovering cost competitiveness. Domestic demand remains subdued, as much needed balance sheet repair continues. For 2012, the real GDP growth forecast has been revised down...

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