Davy: Tory-Lib Dem deal best outcome for Irish economy

THE Conservative-Lib Dem coalition which has put Tory leader David Cameron into 10 Downing Street is the best general election outcome for the Irish economy, according to Davy stockbrokers.

Davy chief economist Rossa White said the new government is “by far the best deal” in the circumstances for both Ireland and financial markets.

White argues that the Conservative-Liberal government has a large majority, enough to take hard decisions on fiscal policy. “Success in closing the budget deficit will be the defining feature of this government: the noises are positive so far. We expect an emergency budget within a couple of months, going far beyond even the Conservatives’ election manifesto. Sterling has already rallied and that trend is likely to continue as markets give the new government the benefit of the doubt.”