Ireland

Gartmore's closed-ended Irish Growth fund will wrap up in the New Year, subject to shareholder approval.

Moody's has slashed Ireland's credit rating, and warns more downgrades are set to follow.

ON BONDS

Ireland's economy saw a return to growth in Q3, with GDP up 0.5% on the previous quarter.

Allied Irish Banks has been forced to ditch plans to pay staff €40m in bonuses after the Irish government threatened to withdraw its financial support.

MACROECONOMIC FOCUS

The Irish Republic is poised to unveil the details of a severe austerity budget later, part of a deal to secure an €85bn bail-out from the European Union and International Monetary Fund.

First we brought you quantitative easing bears. Now get the lowdown on the Irish bailout, through the eyes of Taiwanese animators. If you are not keen on Irish stereotypes look away now.

Economist Nouriel Roubini, known around the world as Dr Doom for forecasting the credit crisis, says Portugal will be the next European country in line for an Irish-style bailout.

Ireland was last night poised to nationalise its two biggest banks as the country continues to be battered by the financial crisis.