....its ministry of finance produces a statement like this....
An Exchequer deficit of €3,721 million was recorded in the first quarter of 2009 compared to a deficit of €354 million in the same period last year. Tax revenue was down year-on-year by €2.6 billion or 23%. Total net voted expenditure was just over €680 million or 6% above expenditure levels for the same period of last year.
A ten-fold increase in the fiscal deficit; tax revenues are down almost a quarter; while expenditures are up 6 percent.
The country? Ireland.
7 comments:
Which is why there was a supplementary budget in Ireland yesterday.
wonder if Sinn Fein are still so keen on a united Ireland.
As I heard it, Ireland was at least trying to cut expenses and wasn't going on a financial bender like we are in the States.
Are Sinn Fein still keen? You bet. Underneath the Green they're a bunch of revolutionary marxists who don't believe in capitalist illusions like money.
Couldn't they cure it by confiscating the wealth of that old crook Haughey?
Great suggestion dearieme! :-)
Oh, well - the Irish can drink and have a good crack about it. I would worry about the English: they always get all nasty and fascist when things don't work out for them.
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