Irish economy

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Cowen Teeters as Greens Quit Irish Gov't

Elections now likely for February

(Newser) - Ireland's small but critical Green Party quit the coalition government today, just a day after Irish PM Brian Cowen stepped down as party chair but sought to hold on to his seat. The move puts pressure on Cowen to quit as the Greens join the opposition in calling for March... More »

Ireland PM Cowen Quits as Party Leader

But says he'll lead government through March election

(Newser) - Prime Minister Brian Cowen says he has resigned as leader of Ireland's dominant Fianna Fail party but intends to keep leading the government through the March election. Cowen's surprise announcement today capped a week of political crises that brought his coalition government to the brink of collapse. Never before in... More »

Post-Crash Ireland Becomes Luxury Bargain Basement

Fancy cars, wines, homes selling at deep discount

(Newser) - In the midst of its worst recession in modern history, Ireland has become a bargain hunter’s paradise, with high-end cars, homes, and wines selling for a song. “It’s a bit like old vultures over the carcass,” one shopper tells Bloomberg . “You’ll see all sorts... More »

Ireland Buys 75% of Troubled Lender in Banks Bailout

Anglo Irish goes into taxpayers' hands after scandal

(Newser) - Ireland became the latest nation to partially nationalize struggling banks last night, buying 75% of the deeply troubled Anglo Irish Bank and bailing out others, reports the Financial Times. The bank, whose shares had already dropped 95% from bad mortgage debts, suffered a further blow last week when its CEO ... More »

'Celtic Tiger' Has a Thorn in Its Paw

Ahern's heir inherits an Ireland whose boom is behind it

(Newser) - In his 11 years as Ireland's prime minister, Bertie Ahern presided over explosive economic growth that earned the once-moribund nation the nickname "Celtic Tiger." But his presumptive successor, finance minister Brian Cowen, is inheriting a dismal situation: after a decade of boom, Ireland's economy is set to grow... More »

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