deflation Posted January 22, 2009 Share Posted January 22, 2009 A spokesman said construction was 10% of their GDP where as it's 4% in the UK. Already 10% unemployment. 'Economy was built on thin air' was one quote. They can't inject money into the economy because of being in the Euro. The Germans called Ireland the 'wild west' of the EZ! Possibility of pay CUTS in the public sector. Now a sort of Celtic pussy cat. Quote Link to comment Share on other sites More sharing options...
Gone baby gone Posted January 22, 2009 Share Posted January 22, 2009 Indeed, what a mess. And the cheap manufacturing / assembly jobs (like Dell) are on the way to Eastern EU countries. Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted January 22, 2009 Share Posted January 22, 2009 Yeah I saw this; admitted that housing had gotten out of control. UK could be to follow; she asked if he was ready for riots/strikes (basically) if there were public sector pay cuts. Quote Link to comment Share on other sites More sharing options...
ralphmalph Posted January 22, 2009 Share Posted January 22, 2009 I do some work for Irish companies. If you think it is bad here then it is 20 to 30 time worse in Ireland. It is today an economic disaster zone. Quote Link to comment Share on other sites More sharing options...
Zach1965 Posted January 22, 2009 Share Posted January 22, 2009 (edited) Minimum wage rises by 35c per hourSunday, 1 July 2007 08:20 The National Minimum Wage in Ireland increases from €8.30 per hour to €8.65 per hour today. The increase is the second this year. It is the sixth overall increase to the national minimum wage since it was first introduced in April 2000. Ireland's national minimum wage is only bettered in the EU only by Luxembourg. How things have(will) change. I heard that baggage handlers in Dublin Airport are on 70,000 Euros Edited January 22, 2009 by Zach1965 Quote Link to comment Share on other sites More sharing options...
newbie Posted January 22, 2009 Share Posted January 22, 2009 "Ireland is finished." "Spain is finished." "Greece is finished." There's a theme emerging. Quote Link to comment Share on other sites More sharing options...
Guest KingCharles1st Posted January 22, 2009 Share Posted January 22, 2009 (edited) 75% of my customers are Irish, and 75% of those are linked to construction. I can't remember the last time I had a happy new order. It's horrible and getting horribler by the day. Edited January 22, 2009 by KingCharles1st Quote Link to comment Share on other sites More sharing options...
Mega Posted January 22, 2009 Share Posted January 22, 2009 Yes, but Ireland is not holding anything like the US debt that the UK is. Mike Quote Link to comment Share on other sites More sharing options...
'Bart' Posted January 22, 2009 Share Posted January 22, 2009 "Ireland is finished." "Spain is finished." "Greece is finished." There's a theme emerging. How's the Finnish economy bearing up? Quote Link to comment Share on other sites More sharing options...
Guillotine Posted January 22, 2009 Share Posted January 22, 2009 How's the Finnish economy bearing up? Quote Link to comment Share on other sites More sharing options...
copydude Posted January 23, 2009 Share Posted January 23, 2009 How's the Finnish economy bearing up? We're all Finnished Now. Quote Link to comment Share on other sites More sharing options...
Wires 74 Posted January 23, 2009 Share Posted January 23, 2009 (edited) ; she asked if he was ready for riots/strikes (basically) if there were public sector pay cuts. I thought the Irish public sector Unions had already agreed to pay cuts -certainly the article I saw last week was on about 5% cuts for hospital staff and teachers with even more for white collar staff ... Certainly the Union Leader quoted below seems quite sanguine about the prospect; http://www.irishtimes.com/newspaper/frontp...1738221174.html Edited January 23, 2009 by Wires 74 Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted January 23, 2009 Share Posted January 23, 2009 I think they're planning more.... but don't quote me on that... Quote Link to comment Share on other sites More sharing options...
Little Professor Posted January 23, 2009 Share Posted January 23, 2009 Ireland was even worse than the UK. The rise in their 'wealth' was driven almost entirely by property. They have no real industries other than exporting bananas, especially now that Dell have jumped ship. They are well and truly fecked. Quote Link to comment Share on other sites More sharing options...
BXLONDONMAN Posted January 23, 2009 Share Posted January 23, 2009 A spokesman said construction was 10% of their GDP where as it's 4% in the UK. Already 10% unemployment.'Economy was built on thin air' was one quote. They can't inject money into the economy because of being in the Euro. The Germans called Ireland the 'wild west' of the EZ! Possibility of pay CUTS in the public sector. Now a sort of Celtic pussy cat. you are naughty but i like your jokes,,,celtic pussy cat !!... Quote Link to comment Share on other sites More sharing options...
wren Posted January 23, 2009 Share Posted January 23, 2009 How's the Finnish economy bearing up? Hundreds of new redundancies announced each week (remember population only 5 million) plus temporary layoffs in some sectors. GDP growth is projected to be negative this year although better than the average (negative) for the Eurozone. Talking-head economists expect slight positive growth next year, which is rubbish IMO. The pub nearest me has reduced the cost of a pint by 30 cents, although I think this is due to the smoking ban and for the suburbs it was a bit overpriced anyway IMO. Of the 4 pubs within easy walking distance 1 has closed - the one I predicted would do so - probably due to the smoking ban. Food prices still going up, at least in my neck of the forest, but petrol down. Oh, sorry, your comment was a joke! For a moment I thought it was a serious question. Quote Link to comment Share on other sites More sharing options...
BXLONDONMAN Posted January 23, 2009 Share Posted January 23, 2009 Hundreds of new redundancies announced each week (remember population only 5 million) plus temporary layoffs in some sectors. GDP growth is projected to be negative this year although better than the average (negative) for the Eurozone. Talking-head economists expect slight positive growth next year, which is rubbish IMO. The pub nearest me has reduced the cost of a pint by 30 cents, although I think this is due to the smoking ban and for the suburbs it was a bit overpriced anyway IMO. Of the 4 pubs within easy walking distance 1 has closed - the one I predicted would do so - probably due to the smoking ban. Food prices still going up, at least in my neck of the forest, but petrol down. Oh, sorry, your comment was a joke! For a moment I thought it was a serious question. no green shoots then !!! like we have .. Quote Link to comment Share on other sites More sharing options...
1929crash Posted January 23, 2009 Share Posted January 23, 2009 How's the Finnish economy bearing up? It's Finnished. Quote Link to comment Share on other sites More sharing options...
eric pebble Posted January 23, 2009 Share Posted January 23, 2009 (edited) Yeah I saw this; admitted that housing had gotten out of control. UK could be to follow; she asked if he was ready for riots/strikes (basically) if there were public sector pay cuts. But - Was it just me?!? - When house "prices" in Dublin became even more expensive than Londonistan - I just shook my head [2 years+ ago] and just thought - "It is just a matter of time....." I mean - it was SO obvious!!?!?? A country that has more sheep than people - and miles and miles and miles [etc] of EMPTY SPACE!!! HOW COULD THOSE UTTERLY INSANE HOUSE "PRICES" BE SUSTAINED THERE???!!??? Edited January 23, 2009 by eric pebble Quote Link to comment Share on other sites More sharing options...
wren Posted January 23, 2009 Share Posted January 23, 2009 no green shoots then !!! like we have .. Well, if there are any, they're hidden under 6 inches of snow. Consumer sentiment is about the lowest ever. At least Finns are realistic and can face a problem when they see it. To his credit the Prime Minister (Vanhanen) warned in the first half of last year that a recession was likely within 2 years. Quote Link to comment Share on other sites More sharing options...
BXLONDONMAN Posted January 23, 2009 Share Posted January 23, 2009 Well, if there are any, they're hidden under 6 inches of snow. Consumer sentiment is about the lowest ever. At least Finns are realistic and can face a problem when they see it. To his credit the Prime Minister (Vanhanen) warned in the first half of last year that a recession was likely within 2 years. let's hope things get better,,i take it your banks are doing better then uk banks !!! Quote Link to comment Share on other sites More sharing options...
mr slump Posted January 23, 2009 Share Posted January 23, 2009 But - Was it just me?!? - When house "prices" in Dublin became even more expensive than Londistan - I just shook my head [2 years+ ago] and just thought - "It is just a matter of time....."I mean - it was SO obvious!!?!?? A country that has more sheep than people - and miles and miles and miles [etc] of EMPTY SPACE!!! HOW COULD THOSE UTTERLY INSANE HOUSE "PRICES" BE SUSTAINED THERE???!!??? well when they ran out of crap down there to buy they bought up here in northern ireland its probably one of the primary reasons for our extraordinary spiral of lunacy now theyre stuck with 30% reduction here already most likely with euro mortgages on a faling sterling based asset fvck them a 30% reduction here only covers the 2007 hpi actually northern irelands economy has been cushioned a fair bit at the woe of the south by border hoppers bringing buckets of euros to prop up our retail its delusionary to our assembly though, they think things won't be so bad here because we have a huge % of public sector workers, that and the southern spenders its all going the same direction down Quote Link to comment Share on other sites More sharing options...
wren Posted January 23, 2009 Share Posted January 23, 2009 let's hope things get better,,i take it your banks are doing better then uk banks !!! The sizable banks are essentially Swedish (due to many mergers in recent years) and I've heard they have made many potentially bad loans in Eastern Europe. The smaller, fully Finnish banks are not badly exposed from what I've heard. Finnish banks were bailed out by the state in the early '90s when a Scandinavian banking meltdown occurred (partly due to the late '80s housing bubble). There's a housing bubble in Finland now also. I reckon it's about 12 months behind the UK. They're past the stage of "but prices won't go down" and at the "but they won't go down much" stage now. I rent, happily. Quote Link to comment Share on other sites More sharing options...
Luke Skywalker Posted January 23, 2009 Share Posted January 23, 2009 But - Was it just me?!? - When house "prices" in Dublin became even more expensive than Londonistan - I just shook my head [2 years+ ago] and just thought - "It is just a matter of time....."I mean - it was SO obvious!!?!?? A country that has more sheep than people - and miles and miles and miles [etc] of EMPTY SPACE!!! HOW COULD THOSE UTTERLY INSANE HOUSE "PRICES" BE SUSTAINED THERE???!!??? I'll tell you how, Eric: It was because of: LIAR LOANS Quote Link to comment Share on other sites More sharing options...
the-sign-jacker Posted January 23, 2009 Share Posted January 23, 2009 Indeed, what a mess.And the cheap manufacturing / assembly jobs (like Dell) are on the way to Eastern EU countries. erm, were on the way to 'cheap' EU counties. now were the cheaper labour. and were more skilled. Quote Link to comment Share on other sites More sharing options...
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