The turnaround in the French and German economies spells serious trouble for Ireland.
If you recall, interest rates began to fall in July 2008. This money was badly needed by a heavily indebted private borrowers in Ireland. Instead of this money being used as a financial stimulus, the Clowen Economic Posse raided our wallets and purses to bail out their friends in the banking and building sectors. I sat by and watched as the extra surplus I had from a falling mortgage was eaten up by higher taxes and levies. Not only did I not stimulate any economy, I saw my safety cushion get whipped away.
Now, France and Germany are growing again. What does that mean? Higher interest rates. The other shoe is about to fall. People will be in serious pain before long.