Friday, 1 January 2010

Ireland and the End of Recession

IRELAND — one of the worst victims of the credit crunch in the world — is OUT of recession.

Revised official figures showed the Irish economy grew by 0.3 per cent between July and September.
Previous stats had shown a 0.6 per cent fall.
The figures will heap yet more pain on the British government.
Britain is the last of the G20 countries to escape the clutches of the worst downturn since the Second World War.
Chancellor Alistair Darling has repeatedly claimed the economy will finally begin to recover at the turn of the year.
In stark contrast to the UK, Ireland has announced savage spending cuts of nearly £4BILLION in a bid to turn their economy around.
Ireland's finance minister Brian Lenihan last week said the cuts were "simply a matter of budgetary necessity in these extraordinarily difficult times".

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Comment: The countries worst hit by the recession are, in this order - Greece, Spain, Ireland, United Kingdom.

The next government should be ready to upset people by cutting spending and raising taxes, says Neil O'Brien.

1 comment:

kerdasi amaq said...

The recession is over: the depression is beginning. 2010 will be much worse than last year!

The media are just blowing smoke!