A Bit of Green for These Irish Plays
When one thinks of countries with troubled economies, Ireland probably comes near the top of the list. Once the envy of countries around the world, the so-called Celtic Tiger has since been humbled amid the ongoing financial crisis. Real estate prices in Ireland have tumbled 40% from 2007, unemployment is at 14% and most of the country's banks have been nationalized to avoid their collapse. The Emerald Isle would seem to be on its knees.
But, while the Irish economy is certainly weak, it may not be nearly as soft as the media suggests. The Bank of Ireland reports that, in the first quarter of this year, real gross domestic product in the country rose 1.3% -- not strong, but certainly not recessionary. The bank also reports, "Ireland has a strong mix of high value merchandise and service exports, which have proven resilient as global growth has slowed."...435 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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