So the Irish government bailed out the banksters, cut public spending, and their
economy is in the shit.
Unemployment is up to 13.8 percent (it was as low as 4.2 percent as recently as 2005); public spending has been savagely and repeatedly cut since 2008; the deficit has risen to 14.3 percent; and current predictions suggest that 100,000 people will emigrate in the next several years, from a population of 4.3 million. The bill from the struggling banks may, in the end, total upward of $135 billion 100 billion euros, in an economy with a G.D.P. of $220 billion 160 billion euros.
