The Change is in Your Pocket was the slogan used for the launch of the Euro in Ireland. But for months now, consumers have been complaining that their Euro is not going as far as they believed it would and a new survey has confirmed their worst fears. Ireland is now the second most expensive state in the Euro zone. Only Finland has a higher cost of living. Prices have risen … [Read more...] about Introduction of Euro Has Fueled Inflation
Economy
Tourism Slump
Predicted To Hit Economy
Ireland is facing its worst tourism slump in more than ten years as a result of the attacks on the U.S. and the foot and mouth crisis which hit earlier in the year.
Tourism Minister Jim McDaid promised to do whatever possible to minimize the adverse impact on the industry, as he released the statistics for the second quarter of the year. Between now and the end of December, it … [Read more...] about Tourism Slump
Predicted To Hit Economy
IMF Warns Economy Faces Slowdown
The International Monetary Fund (IMF) has warned of substantial risks for the Irish economy as a result of the slowdowns in the U.S. and Europe, but has nevertheless painted a pretty favorable picture of Ireland in its annual review of the Irish economy. The Irish Finance Minister, Charlie McCreevy, welcomed the report's conclusions, as he saw them as a commendation of his … [Read more...] about IMF Warns Economy Faces Slowdown
The Punt Takes a Pounding…
If you're planning a trip to Ireland, now's the time. The Irish pound has hit a 15-year low in its exchange rate with the dollar, falling to as low as 95 cents at the time of going to press. It is expected that the rate will continue to fall due to the Euro's weak performance on foreign currency markets. The Irish pound or punt is now tied to the Euro since eleven European … [Read more...] about The Punt Takes a Pounding…
News from Ireland: Irish Government Curbs Inflation
As Irish inflation approaches 5.5 percent, three times the European average, the Irish government has launched a crackdown. Irish prime minister Bertie Ahern has ordered government ministers to inform bodies under their supervision to postpone increases. Banks and building societies have been targeted in the effort to control price increases. Finance Minister Charlie … [Read more...] about News from Ireland: Irish Government Curbs Inflation