Wednesday, April 8, 2009

You know a country is in trouble when.....

....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:

  1. Which is why there was a supplementary budget in Ireland yesterday.

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  2. wonder if Sinn Fein are still so keen on a united Ireland.

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  3. 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.

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  4. Sebastian WeetabixApril 8, 2009 at 2:09 PM

    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.

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  5. Couldn't they cure it by confiscating the wealth of that old crook Haughey?

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  6. Great suggestion dearieme! :-)

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  7. 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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