The numbers from the IMF are truly shocking. Budget deficit in excess of 10% of GNP. Unemployment to head north of 15%.
Banks will probably have to be nationalised in addition to the NAMA job, 13.5% economic contraction. Every day there is more news of ineptitude and greed on a colossal scale. Today it was an article in the Irish Times about gullible punters who lost money to unscrupulous estate agents selling flats in places like Bulgaria. Yesterday was people who lost all of their deposits to a builder collapsing being told to look on the bright side because the prices of houses had fallen in the meantime. the day before was Setanta. And that's only 3 days' worth.
If GAA wallas can't see the writing on the wall they should look around. GAA grants were a nice idea in the overheated economy but the country is virtually bankrupt today and just can't afford fripperies.
Banks will probably have to be nationalised in addition to the NAMA job, 13.5% economic contraction. Every day there is more news of ineptitude and greed on a colossal scale. Today it was an article in the Irish Times about gullible punters who lost money to unscrupulous estate agents selling flats in places like Bulgaria. Yesterday was people who lost all of their deposits to a builder collapsing being told to look on the bright side because the prices of houses had fallen in the meantime. the day before was Setanta. And that's only 3 days' worth.
If GAA wallas can't see the writing on the wall they should look around. GAA grants were a nice idea in the overheated economy but the country is virtually bankrupt today and just can't afford fripperies.