2009 Gloom & Doom Update: Protests in Ireland & Latvian Govt Collapse

A few weeks ago, there were reports of protests in Latvia, amongst several other countries (see previous post). Now, the Latvian government has resigned. That makes two governments that have collapsed so far, directly attributable to the economy.

There are now protests in Dublin, Ireland about the economy, and strikes are expected soon.

Let’s see how far the ongoing protests in various countries will go. It is a matter of time before people acknowledge that the recession (2 quarters of negative growth or unemployment increase by 1.5% in 12 months) is actually a depression (GDP declines by more than 10%) in certain countries.

Advertisements

5 Responses

  1. On http://edition.cnn.com/2009/BUSINESS/02/21/ireland.economy/index.html

    CNN reports:

    “In addition, Ireland’s economy has sustained continued pressure from the devaluation of its Sterling currency against the Euro.”

    Now it is news to me that Ireland is using Sterling.. last time I was there I actually used Euros.. was I doing something illegal or counterfeit?

  2. Andre, you were fine 🙂
    * The Republic of Ireland uses euros.
    * Northern Ireland (part of UK) uses pounds sterling.
    Also, most places in UK do accept euros

    Maybe the CNN article was careless in its research and mixed up the two Irelands?

  3. I know.. I worked as Medical doctor in both Irelands at some stage.. but this article were quite specific about Dublin and Pounds.. still wonder how they got this mixed up.

    André

  4. […] Problems in Bosnia are less surprising as this was not a strong economy to start off with. Given their political precariousness (two regional, uncoordinated governments), this is a country that is possibly in line for a change in administration in the style of Iceland or Latvia. […]

  5. […] Problems in Bosnia are less surprising as this was not a strong economy to start off with. Given their political precariousness (two regional, uncoordinated governments), this is a country that is possibly in line for a change in administration in the style of Iceland or Latvia. […]

Comments are closed.

%d bloggers like this: