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Good piece of reporting overall here:

The victims of Ireland's economic collapse | World news | The Guardian

When Ann Moore returned to have breakfast with her family after a 12-hour night shift at a nursing home, she found riot police and bailiffs outside her home of 16 years. She and her husband, Christy, and their three children were being evicted. Despite climbing a ladder to the top of the house for six hours in a desperate attempt to thwart the bailiffs, the distressed care worker was eventually coaxed down and taken to hospital. Her home in the southern suburbs of Dublin was promptly boarded up.

The Moores were badly in arrears, owing the council €10,000. For eight months, Ann had been paying back €50 on top of her €100 weekly rent. But in a country where 300,000 homes lie empty, the authorities decided to make the Moores homeless and punish them for their perceived fecklessness. Yet it is the politicians, bankers and developers of Ireland who have been rather more feckless.

Ireland is, per capita, the most indebted country in the EU. Its budget deficit of 14.3% is higher even than in Greece. For a decade, the "celtic tiger" economy was the poster child of free-market globalisation. Now, this bedraggled alley cat of an economy is neo-liberalism's favourite example of how to cut your way to recovery. Ireland's government has slashed public sector spending by 7.5% of gross domestic product with a series of drastic cuts this year: public sector pay by 15%, child benefit by 10%, unemployment benefit by 4.1%. Another €3bn will be removed next year, a total of 10% of GDP over three years: these measures are equivalent to the British government slashing its budget not by the £6.25bn planned by George Osborne in 2010, but by an incomprehensibly gigantic £150bn.

by Metatone (metatone [a|t] gmail (dot) com) on Wed May 26th, 2010 at 06:10:45 AM EST
It's a long article, worth reading.
by Metatone (metatone [a|t] gmail (dot) com) on Wed May 26th, 2010 at 06:11:06 AM EST
[ Parent ]

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