A matter of life and debt

Ireland is in danger of becoming nothing more than a debt servicing agency, and that means disaster is not far away

15th May, 2010

I met a small businessman during the week whose business is down by a third this year. He used to have a business with an annual turnover of €1 million in 2008 and 2009.This year, turnover is down to €650,000.

So he is slashing prices and doing deals to stay afloat. He is optimistic that he can survive, if this is as bad as it gets. If there is another slump next year, he’s gone....

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