Ireland double dips

Posted: December 8, 2010 by ROH in general, news, Pupil, ROH
Tags: , ,

Ireland’s financial troubles are set to take another setback as its economy goes into a second recession.

Ireland, which was once named the Celtic tiger, because of its boom in industry, its pioneering education system, and its technology resources. The country is now in need of an emergency loan from the European Union (EU) and the International Monetary Fund (IMF).

The total amount announced by Irish Prime Minister Brian Cowen totalled 90 billion Euros which is about £72 Billion and $124 Billion.

It was agreed that Ireland would present a crisis plan that would cover the next four years.  Ireland got itself into trouble because of house values falling by 50% – 60%.

As Ireland prepares to ask for a bail out from the EU, the British taxpayers may have to foot a £7 billion – £9 billion loan. This will leave the average home with an increase of about £300 in taxes.

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Comments
  1. evelinasec says:

    Well done ROH.
    If you have time, you could add a few more pictures. I know you were thinking of including a photo of the Taoiseach.

  2. ROH says:

    That would be nice and it is good that it is finally up on the blog can’t wait for my next assignment 🙂

  3. jc says:

    thats really good roh i really like them photo x 🙂

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