Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

Ireland Leaves Eurozone Behind As Exports Boom Gdp Surge 7.7%

Recommended Posts

http://www.telegraph.co.uk/finance/economics/11107507/Ireland-leaves-eurozone-behind-as-exports-boom.html

Ireland's economy is growing at an explosive pace not seen since the glory days of the Celtic Tiger, setting off a scramble for Dublin property.

Finance minister Michael Noonan said GDP surged 7.7pc in the year to June as rising exports to the US, Britain and China transform the former crisis-state into the eurozone’s star economy, reaching “escape velocity” as the rest of the currency bloc languishes in a slump.

Gross national product — a better gauge of Ireland’s internal economy – grew by 9pc, an astonishing pace for a mature industrial state... Dublin house prices have risen 24pc over the past year, though they are still far below their peak and 135,000 households are still in arrears from the last crisis. The Irish Mortgage Holders Organisation said the city is once again in the grip of an “irresponsible property bubble”.

Stunning growth figures and then you see the house price growth.

It's clear the global economy is built on housing ponzi!

Share this post


Link to post
Share on other sites

Do they work a 4-day week over there?

I guess it includes lots of part-timers.

Part-timers would be included in the average hourly earnings, no? Which are down even more than average weekly earnings.

Share this post


Link to post
Share on other sites

Is it something to do with printing/forging euros that they were reported to be doing on the quiet not so long ago (apparently).

That is apart from:


Ireland’s public debt has rocketed to 124pc of GDP from 25pc in 2007,

Assuming the 25pc figure was accurate to start with :rolleyes: and the squid hadn't been in action with trillions of off balance sheet debt like in Greece.


Dublin house prices have risen 24pc over the past year,..

So it looks as if London isn't the only place with overseas property buyers (UK hedge funds?).

Edited by billybong

Share this post


Link to post
Share on other sites

Good export figures over the last couple of years in Spain too, and industrial orders, tourism etc are up.

The linking factor is both countries have had the hpc. (Yes they both have the euro, but more a case of getting growth back despite the euro, not because of it?)

Share this post


Link to post
Share on other sites

. (Yes they both have the euro, but more a case of getting growth back despite the euro, not because of it?)

No the Euro zone is keeping their interest rates artificially low so they are in the same spot they were when the joined the euro zone. Their economies will go bust at some point.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   209 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.