Irish economy

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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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