One thought on “Ireland quarterly deficit hits -36.51% of GDP”

  1. This contraction was predictable given that going on 20% of the total economy was directly tied into a construction bubble that burst more than two years ago, and given that in absence of capacity to devalue there was an establishment consensus to use unemployment to drive wages down to take the whole burden of our loss of competitiveness. That, along with emigration, was the Government’s only employment strategy.

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