Ireland recession

6 Stories

Ireland's Pubs Becoming Endangered Species

Rural bars closing by the dozen as recession bites

(Newser) - Irish-themed pubs are attracting drinkers from Anchorage to Abu Dhabi, but the real thing is in rapid decline in its homeland. The pub trade, particularly in the countryside, has been declining for years, due in part to a smoking ban and stricter drunk driving laws. Now, with high unemployment and... 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 »

Horses Starving in Cash-Strapped Ireland

Some 20K have been abandoned in sad herds

(Newser) - Among the hardest-hit victims of Ireland's economic crisis are the nation's beloved horses, who have been abandoned by the thousands and face a winter of starvation. Unwanted horses have driven the price for them so low that it's now cheaper to buy a new horse than to pay a vet... More »

EU Agrees to Ireland Bailout

'Tens of billions' will shore up foundering banks

(Newser) - Ireland officially hit the EU up for a loan today, after weeks of denying its debt-ridden banks needed a bailout. European Union finance ministers quickly agreed to the bailout, saying it "is warranted to safeguard financial stability in the EU and euro area." The amount remains to be... More »

Europe Works Out $135B Irish Rescue Deal

...Even though Ireland insists it doesn't want to be rescued

(Newser) - Senior European financial officials emerged from a meeting in Brussels yesterday saying they were “intensifying preparations” for an Irish bailout of up to $135 billion. IMF experts will head to Dublin this week to examine the country’s finances and work out the details, the Wall Street Journal reports.... 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 »

6 Stories