The Difference between Ireland & Iceland - Iceland recovers first.

[Duth Ealla]

I came across a good post from Gerard O'Neill who runs Amárach Research.

Grim stuff indeed. Allied with another post in IrishEconomy.ie questioning how we can export our way out in a world with no demand its very grim.

His web site is Turbulence Ahead



The IMF's latest [COLOR=#225588]World Economic Outlook[/COLOR] contains quite shocking forecasts for Ireland, as shown in the table below.



According to the IMF, Ireland will experience the most severe recession this year of all the countries they survey, except for Singapore and Iceland. Then it gets worse: Ireland is expected to experience the most severe recession of all the countries in the IMF forecasts - period. Even Iceland is expected to do better next year than Ireland.

[Eorna]

Thanks for a great post. This should put paid to all the Fianna Fail scobies saying that that Ireland's crisis is only based on the Credit Crunch. Christ look at the Dutch, the removed excess supports from their housing market in the early years of the decade, as they saw it overheating.