Confidence in action

How much will we owe in 2012? Ireland’s Debt/GDP reached a record low of 25% in 2006. At the end of 2009, it stood at 66%, as the government went on a borrowing spree to bail out banks while tax revenues plummeted. Our gross debt ratio is projected to rise to 84% by end 2010. […]

Septic Tiger

‘The Government has decided either through the National Pensions Reserve Fund or otherwise and subject to terms and conditions, to support, alongside existing [bank] shareholders and private investors, a recapitalisation programme for credit institutions in Ireland of up to €10 billion.’ ‘The State’s investment may take the form of preference shares and/or ordinary shares and […]

The Golden Years

For a week now, I’ve been avoiding the R word. In case you missed it, the ESRI announced that the Celtic Tiger was no more, and we were in a recession. The Irish news media responded with something that looked suspiciously like nostalgia for the eighties, when we were a nation of emigrants instead of […]