Ireland gears up for rough economic times

The Celtic Tiger experienced rapid growth over the past 15 years, but now has debt that might require a massive bailout.

Ireland saw rapid growth in the past 15 years, but is now struggling with huge debt.

The country says it has funding until June next year, but analysts say it could need a bailout of up to $110 billion.

Even the possibililty that Ireland might default is a mighty comedown for the former Celtic Tiger, so-called for its rapid growth.

This was a country where most enjoyed the boom – but now the tiger is dead – and everyone is going to share the pain.

Al Jazeera’s Alan Fisher has more from the capital Dublin.

Source : Al Jazeera

Related

Manufacturing industry is becoming a museum relic, say locals in Coventry, whose car factories left long ago.

14 Nov 2010
More from News
Most Read