Ireland’s economy: the bailout is gone, but the economy is far from healthy

December 16, 2013

Ireland on Friday “officially ended its bailout in a landmark for the euro zone’s efforts to resolve its debt crisis,” Reuters writes.

Reuters charts Ireland’s economic progress. Borrowing costs have fallen markedly over the past two years, but the economy has shrunk more than 8% since the financial crisis. Unemployment is closer to the euro zone norm, but only in part because that point of comparison has risen significantly. The Economist thinks “Ireland is almost as far away as ever from a clean bill of economic health.”

(Note that while the percentage of mortgages more than 90 days in arrears has surged, the data only goes back to mid-2009 and lacks comparable euro zone statistics for context.)


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looks like all four graphs show the economy is correcting.

Posted by nodeficit | Report as abusive

The foreign bankers who saddled the people of Ireland with their investments gone bad are a pox upon modern civilization. When one considers that they were predominantly foreigners and bankers, their lack of integrity is to be expected.

However, the Irish politicians who protected those bankers from their massive, well-deserved losses by shifting the losses to the Irish people are evil beyond redemption.

When one considers Ireland’s long history of violence dealt to those who have done them wrong, I’m surprised that they have gone 5 years without so much as a bout of fisticuffs with the those miserable vipers.

Posted by breezinthru | Report as abusive