View from the US: Ireland's "grinding reality"
The New York Times is today running a feature on what it calls Ireland's "painful" path to austerity, and the "grinding reality" of life here.
Having embraced severe belt-tightening to mend its tattered finances, Ireland is showing glimmers of a turnaround, the New York Times writes today.
A year after it received a €67.5 billion bailout, or about $90 billion at current exchange rates, modest growth has returned and the budget deficit is shrinking.
But the effects of austerity have pummeled Ireland’s fragile economy, leaving scars that are likely to take years to heal. Nearly 40,000 Irish have fled the country...
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