IMF: main points
- The economy will contract by about 13.5 per cent from 2008 until the end of next year.
- Unemployment will reach 15.5 per cent in 2010.
- Bank losses could rise to €35 billion by the end of 2010.
- Bank nationalisation could become necessary but not as an alternative to Nama.
- Further cuts in the public service wage bill likely to be inevitable. A review of public service employment is needed.
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