The Irish economy grew less than expected in the first half of the year, prompting a downward revision of the annual growth rate for 2013 by 0.2% to 0.5%, according to the Central Bank of Ireland's quarterly bulletin.

With respect to public finances, the bank says that while "very significant action has been taken in recent years to lower the fiscal deficit and contain the growth in public debt, the levels of both, in relative and absolute terms, remain very high". It adds that markets would