In Ireland unemployment is rising at the fastest rate since the records began in 1967. It's now standing at 295,000, having grown by 120,987 in the last year.
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.
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