Friday 23 January 2009

How Ireland was destroyed by obscene greed and the euro

Daily Mail
"Just look across to Ireland and see how much worse things would be now if Britain had joined the euro. ..Share prices for all banks have crashed. The third largest bank, Anglo Irish Bank, was nationalised this week after it was discovered, among other shocks, that the chairman had hidden more than £100m in personal loans from the auditors for eight years. Shareholders were wiped out. ...The tax revenue from the property boom has vanished. Unemployment is forecast to hit 20 percent next year. The Government is facing a national deficit of 10.5 percent of GDP this year. The money markets are increasingly reluctant to finance Ireland's debt. International ratings agencies have threatened to downgrade the country's credit rating."

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