Every private sector worker in Ireland is now responsible for a debt of €108,000 per head. This year, when you add in the cost of bailing out irish banks, Ireland will borrow 32% of its output, the highest yearly budget deficit of any nation since World War II.
New EU's projections for Irish economic output growth are pessimistic and the IMF's is painting a very bleak picture. The most pessimistic projections are those by Ernst and Young.
2011 will be a decisive year for Ireland's future.
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