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Sugarlips

Is Ireland showing us the way?

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Interesting how Ireland's debt levels totally collapsed.

Why is that, and has it put them in a better position than other nations for the coming depression?

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10 hours ago, Locke said:

Interesting how Ireland's debt levels totally collapsed.

Why is that, and has it put them in a better position than other nations for the coming depression?

Well the 'why' is that their housing market was allowed to crash. Unfortunately there were major social  consequences (for example 1000s of young skilled and unskilled workers left their families and secured work overseas - most have made new lives in NZ/AU etc and are not coming back) however a lot of people learned the hard way the downside to their largesse in the mid 00's which imo is a good think for the prudent.

Its hard to answer your second question though, surely they are in a better position than those still carrying massive debt...

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