It’s Paul Krugman’s Friday buzzkill.
Ireland embraced austerity early and forcefully, and has been a good soldier all along; so according to the austerians, it should be a success story. And they keep on seizing on any bit of good news as proof that austerity is working.
Now, sooner or later Ireland will recover. But guys, we’re already four years into this story …
Ireland Recovers, and Recovers, and Recovers (Paul Krugman, New York Times)
(Thanks Gearoid Godson)