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Ear to the Ground

Ireland Is Pushed Back Into Recession

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Posted on Mar 24, 2012
cobalt123 (CC-BY)

A 0.2 percent dip in GDP at the end of 2011, which followed a drastic decline in the third quarter, has thrown Ireland back into recession, alongside Belgium, the Netherlands, Italy, Portugal and Greece, and begs the question of whether austerity is the answer to Europe’s economic woes. —ARK

The Guardian:

The Irish finance minister, Michael Noonan, promised a swift recovery last year after record export figures appeared to show foreign trade would galvanise the economy, which had to be bailed out with €90bn by the European commission, IMF and European Central Bank in December 2010. However, the euro crisis and a slowdown in some key export markets dampened demand for Irish goods.

Dublin has focused on exports after it was forced to impose a dramatic squeeze on public spending by Brussels as the price of a multibillion-euro rescue package. The housing crisis that resulted from the largest property boom in the eurozone has also restricted domestic demand.

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By kayrun, March 26, 2012 at 8:42 am Link to this comment

All over the world, and soon playing in the USA, the financial policy makers (5 banking families) are using “debt to bailout to debt to more bailout” as a tactic for mass enslavement.  These modern “slaves” will be told that they are free, and living in democratic republics, etc., but in reality they will spend their lives for generations yet to come subsisting on very small wages, only sufficient for the basics.  In older times, slave owners were charged with the care and feeing of slaves.  Today, the slaves care and feed themselves—somewhat.  This economic debt scheme has been activated and played for decades, and the players have manipulated mass populations right where the players want them.

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By heterochromatic, March 25, 2012 at 7:28 am Link to this comment

kerry====bigotry and stupidity are hard to stamp
out….and exist in people whom one hopes would know
better.

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kerryrose's avatar

By kerryrose, March 25, 2012 at 4:36 am Link to this comment

surfboy and jimmmmy

If all you can do is spout racism and bigotry.  Keep it to yourselves you pathetic, boring idiots.

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By wiseowl, March 24, 2012 at 9:15 pm Link to this comment
(Unregistered commenter)

there IS no more “recession” in this nation nor are there any any teensy tiny terrorists hiding in bras & underwears! all media in all nations is absolutely fabricated fiction; fascism & totaltarianism; ficticious “governments” that were just that; ficticious laws, with disappearing ink; for the “ficticious” “law” makers; force the people to pay; then force them to pay more more more; banks/businesses connection;

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By jimmmmmy, March 24, 2012 at 11:29 am Link to this comment

Its what happens when dirty old priests have the final say on everything. THey made a deal to support and protect the government banksters from retibution,and in exchange got legislation imposing 14 year prison terms for getting an abortion. the Church never misses a chance to “grind its own axe”

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sofianitz's avatar

By sofianitz, March 24, 2012 at 11:16 am Link to this comment

Dear me.  Ireland in recession?  What news.
Anybody expecting anything else?

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