Did anyone watch this last night? That country is f**ked big time - a massive lesson in how not to run an economy. A EUR5m hotel selling for EUR650k - less than my house.

Good luck to them in sorting themselves out, but I think it is going to take a generation.

No, probably been recorded, have to have a look.

Only caught the last 10 mins which was a shame :-( What was it €3billion a year for 17 years to repay Eurobank(?)- 15% of one of their budgets!! Think you're right and they are screwed. No wonder that guy kicked off at the auction.

The government and banks are to blame for a lot of this mess but individuals also need to shoulder some of the stick. They are the ones who took on the debt/remortgaged to the max etc. It seems the whole country had a massive, collective brain f**k. I think at one stage, Ireland was building more houses than the UK - for 10% of the UK's population.

what side was this on ??

trying to find it on youtube / google and cant seem to find it

cheers steve

It was on ABC1. These kind of shows are often repeated on ABC News 24, so have a look at their website.

The UK (and Australia) also. Sadly the minority who didn't participate in the insanity are being punished with financial repression by way of ZIRP and money printing.

I partly agree with you, but I don't see the UK and Australia as being in the same league as Ireland (and Spain).

It's beyond depressing to call home now and talk to my sisters and parents. They say it's like living in a ghost country where just everything is f#cked with no end in sight. My sister said they reckon it will take 35 years for the economy to get back to anything like healthy. How many generations of kids will leave school/Uni and immediately hop on a plane to go ANYWHERE as anywhere will be better than Ireland?
My niece, nephew and their partners all came to Australia in the last six months (once we'd got here and had a bed for them ) and they're very excited about being here. But there's also a huge sadness in them that they know they pretty much have to look for sponsorship here as there's nothing to go back home for. To hear them talking about friends who can't get work and who are slipping into depression as a result is heartbreaking.

Very sad. Perth is full of young Irish at the moment. Walk around the city at lunchtime and they are everywhere - the pasty skin tones really stand out!

A great country brought to its knees.

Ireland reminds me of that scene from Goodfellas where they had to blow up the restaurant to claim the insurance. What was a legitimate business became a free for all for the corrupt.

http://www.youtube.com/watch?v=ZPtjyqgZAUk

People have always left Ireland in large numbers.

About 40% or more Australians have Irish heritage and the figure is probably much higher in the US.

My father left in the 1930's and never wanted to return.....and he came from a wealthy family.

The irish economy has never really been stable......and it was never in Britains interest for it to ever be so.

The boom followed joining the EU and was never sustainable.

We are in rare agreement! My grandfather was Irish - part of that nation's mass, never-ending migration.

Ireland's only real contribution to the world has been its people - all the rest is details.

Luckily our people are our best assest, so the rest of the world gets the best we have to offer

My great uncle went to New Zealand in the late 1800's and never planned to return for good.

However, he went back to Ireland for a visit and WW2 started and he couldn't return to NZ....sadly (for him) he never did