Ireland Enduring a Long Age of Austerity

[justforgroup]

Ireland enters its second year in the ungentle embrace of its bailout providers facing a further €3.8 billion ($5 billion) of budget cuts. It is by general acclamation the star pupil among the growing group of euro-zone members that have lost the confidence of bond investors, and the closest thing the currency area has to a success story.

And yet it still faces massive challenges.

http://online.wsj.com/article/SB10001424052970203935604577066293980719470.html

 

[horusd]

And we're not alone. The Institute for Fiscal Studies (UK) suggest that the period 2006- 2016 will be the "lost Decade". It will take til '16 to return to same income levels of '06.