Sunday, Jun 25, 2006

When The Party Ends In Ireland . . .

Finfacts: Free Lunch Has Yet To Be Invented

What will happen to the Irish economy when the construction industry goes into recession - it currently employs 20% on the private sector workforce on an average salary of €40,000? And what will happen to other jobs when most of the multi-national leave Ireland for countries with lower wages?

Posted by Peter Argot @ 08:54 AM (1875 views)
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9 Comments

1. This comment has been removed as it was found to be in breach of our Blog Policies.

 

2. Mikexx said...

A quote from the article "In 1970, Ireland's national debt was as healthy as it is now: just ten years later it was one of the worst in the world" Am I mising something here?

Sunday, June 25, 2006 07:36PM Report Comment
 

3. This comment has been removed as it was found to be in breach of our Blog Policies.

 

4. Retiredbanker said...

There certainly is such a thing as a free lunch for the Irish it's called EU grants!.

I remember a sarcastic article in Private Eye about 1999/2000 when electioneering Irish politicians were boasting
about the strength of their economy whilst at the same time begging Brussels (successfully as it happened) to
extend EU hand-outs which were due to run-out at that time.

For many years the Irish have been exporting their unemployed/addicts/travellers to the UK, and this will only get
worse if their economy deteriorates, as seems likely.

At first I was very much in favour of the EU, but it has now become obvious that certain Countries ( Greece, Ireland,
Italy, Portugal, Spain ), will never take the necessary measures to reform their economies.
A recent article in the Daily Telegraph showed how these Countries are endangering the stability of the Euro by
allowing highly inflationary increases in property prices, pensions, and wages.

If the gravy-train ever runs up against the buffers, and they are expected to start contributing to the EU budget, I am
sure that these Countries will decide to go their own separate ways.

Sunday, June 25, 2006 08:55PM Report Comment
 

5. Derbyrenter said...

Retiredbanker, please keep the discussion in this forum focused on the topic. Most of us (myself included) are not interested in your racist views on our Irish neighbours.

Monday, June 26, 2006 01:14PM Report Comment
 

6. Retiredbanker said...

Derbyrenter.

At one time my wife and I were thinking of retiring to Ireland, but changed our minds after making many enquiries.
The Irish officials with whom I spoke were very friendly and helpful, but surprisingly critical of their own Country.
I was told that Ireland had neglected to maintain its infrastructure, roads, water supply etc., and that their Health
Service was probably worse than the UK, a tax official telling me in the course of an hour long conversation that
her father had recently died due to the incompetence of the hospital where he was being treated.
There were many complaints about political ineptitude/corruption, low wages and soaring house prices.
A recurring comment was that Ireland's buoyant economy was only benefitting a small percentage of the population,
and "that if things are so good over here, why are so many people leaving for the UK and elsewhere".

Monday, June 26, 2006 05:50PM Report Comment
 

7. Bamboo said...

I dont agree i think that retiredbanker has a good point something i totally agree with especially re the travellers

Monday, June 26, 2006 08:48PM Report Comment
 

8. European-bear said...

I lived in Ireland for many years and am indeed an Irish citizen. However I would tend to agree with retired banker....the Irish will work harder to successfully pull off a scam than it would take to earn the money honestly...... But as far as the EURO goes, Ireland is an econimic irrelavence, even though it is rich, it still only accounts for 3.5 million people (one large German or Italian city, so what ever happens in Ireland will not effect the rest of the EURO area). But their economy is extremely exposed and houseprices have reach much worse multiples than the UK. I expect to see the mother of all house price crashes in Ireland if the economy there goes backwards (which is could well do when multinationals take their money to better low cost countries like India, as the article says.

Tuesday, June 27, 2006 07:23AM Report Comment
 

9. Derbyrenter said...

I am usually just a passive reader of the opinions in this site. My enconomic knowledge is limited but, as chartered engineer my knowledge of industry and the people it employs is not.

My gripe is not about how each of you view the emmigration of young people from Ireland to here. For a start, 1.5m of the people on the island of Ireland (25% of the population) are citizens of the UK. I wonder if you would refer to Scottish of Welsh immigrants to England so flippantly or ignornatly? Regarding Eire, I wonder if you are aware of the proportion of university graduates who leave Ireland to come and work in our economy? Helping solve shortages in engineers, nurses and doctors to name but a few? Indeed, I know many Irish people who work in industry in the UK beacuse we aren't getting the numbers from an increasingly poor collection of graduates from UK 'universities'. I would not insult these people by telling them that all their country is doing is exporting their 'problem' people to the UK and we are better off without them.

Shame on all of you.

I have no probelm with your economic views on Ireland. But do not for a minute start calling all of their immigrants 'unemployed/addicts/travellers'.

Tuesday, June 27, 2006 01:26PM Report Comment
 

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