Reports that Waterford Crystal and the Wedgwood China Company were to go into administration will add yet more gloom to the outlook for the Irish economy. [Since this article was written the factory has been occupied]
The Irish economy is facing a serious downturn, with bank after bank facing crisis and unemployment shooting up. The government insists on bailing out the banks with public money desperately trying to stave off a recession. But they cannot escape the inescapable.