A new report by an economic think-tank says Ireland will remain in a period of low-growth and high-unemployment for the next three years

According to the Nevin Economic Research Institute, there will be GDP growth of 1 percent and 1.2 percent over the next two years - and that will increase to 2 percent in 2015.

There'll be a further shrinking of the numbers of people in employment this year of 0.6 percent, with employment levels remaining static in 2014 and 2015.

It's also predicting unemployment will remain at 14.7 percent this year and will increase marginally to 15 percent in 2014 and 2015.

Ireland's gross debt will peak at 121.1 percent of GDP this year and will reduce slightly in the following two years.