Summary
SO IT'S official - we're in recession. Two successive quarters in which the economy contracted rather than continued to grow have brought down the final curtain on the longest-running boom in Irish history. The news will, of course, surprise nobody; indeed, perhaps the most surprising thing about the official announcement is that it was so long coming.
But what IS surprising is the continued failure, by both economic commentators and the Government, to acknowledge how deep and how wide the roots of this problem go. Yesterday, as every day for the past 12 months, the slump in the property market was being blamed for our economic woes. And, of course, it is a major factor.See the full content of this document
Extract
Time to Stop Running and Lead, Mr Cowen
But in reality it is only a symptom, not the root cause. And, for as long as the Government fails to realise that, any ...
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