Thu January 26, 2012
Irish Struggle Under Weight Of Austerity Measures
Ireland was one of the worst hit by the eurozone crisis, but now it's being seen as a star pupil, leading the class of stricken nations in their efforts to turn their economies around. International Monetary Fund and European Union officials are much impressed by its austerity measures, imposed after last year's massive bail out. Yet, for the average Irish person, the gain is hard to see. Public services have been slashed. House prices have fallen by some 60 percent. About a thousand young Irish people emigrate every week, and there's widespread cynicism over whether economic medicine being taken by the wounded Celtic Tiger actually works.