The Cabinet also ratified the four-year plan which Mr Cowen said would involve â¬10 billion of cuts and â¬5 billion of new taxes between now and 2014. Among the key elements of the plan will be a â¬1 cut in the minimum wage, a 10 per cent cut in social welfare over four years, as well as an agreement to reduce public sector numbers by 28,000. http://www.irishtimes.com/newspaper/breaking/2010/1122/breaking3.html Less money in the pockets means less spending. Maybe the US QE II program can be implemented in Ireland, too ? Too bad, uncle Bernanke is not an Irish man !
The Irish have been forced to accept more billions from Britain, EU and others for the current bailout after blowing umpteen billions already donated to them. An Irish Minister was overheard complaining that they should be given more time to spend all this extra cash. After all how many luxury yachts and country estates do they think any one man can manage ?
17 % less in Allied Irish Bank deposits since the beginning of the year tells you all about the "grieving process" of the Irish man !
u obviously believe that printing money solves problems. don't fire government employees because it increases unemployment. never mind that government employees reduce the productivity of the private sector,
Guess WHO is going to take the HIT ?? The poor of course who else !! The incompetent clowns at the top may even be able to swing the blame onto them as well. Now that is a mouth-watering thought for any true capitalist !!
Just yesterday I watched some TV ( happens very seldom ) about some Australian blue collar workers earning more money "in house" than their engineer colleagues "in the field". Should be a model for banksters, too.
Why do these "bailouts" become such news when its a given fact they will receive any amount they need to keep on going as if nothing is ever wrong. What are we learning as a world if all we do is bailout every country, it seems you can take on all the risk you want and not worry, where are the lessons learned in these circumstances. It just doesn't make any sense.