Monday, February 28, 2011

Election no quick cure for Ireland's ills: more debt, fewer jobs

When I was young, my father and I talked longingly about one day returning to Ireland. But that was the 1970s, when it was poor and the young folk always had to emigrate to find work.

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In the 1980s, Ireland became known as the Celtic Tiger. Everyone felt rich. House prices rocketed. Irishmen began borrowing to boost their exposure to property and other assets. Suddenly they were buying up tracts of London and Spain as well as hundreds of

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