In a recent report on Ireland, the International Monetary Fund expressed a concern that the population might be experiencing ‘contraction fatigue’.

A further  rise in unemployment last month suggests Northern Ireland is still in the grip of a deep recession, which is only set to get worse.

‘It is no longer  a question of contagion; contagion has already happened. This is like Ebola: when you realize that you have it, it is almost too late! You have to cut your leg off to survive’.

The recipe for economic recovery in Ireland, peddled by politicians and bosses’ organisations, has three main ingredients: beef
up the banks to get credit flowing again; cut state spending to the bone
to stabilise the public finances; and cut workers’ wages and conditions
to regain competitiveness.

‘Ireland’s suffering offers a glimpse of Britain’s future
under the Tories’. This was a recent headline in the Guardian newspaper
written by its economics editor, Larry Elliot.

In the run up to the budget, a host of economic experts are
warning of dire consequences if the population does not behave itself, write Kieran Allen

Capitalism is currently in a crisis of epic proportions. Capitalist production is inherenetly unstable and cyclical downturns are part and parcel of the normal workings of the system. This crisis is, however, different.

Anglo Irish: Fianna Fail’s bankers

The nationalisation of Anglo Irish Bank represents another handout to FF’s banker and developer friends.

How deep is the Irish economic crisis?

It is the greatest economic crisis since the 1930s.

North’s East-West divide

By Goretti Horgan