The Central Bank of Ireland recently stated in its forecast that the country’s economy will shrink by a further 4 percent in 2009. Ireland’s economy went down for the first time in 25 years last year. The rate of unemployment, according to the bank, will climb to  9 percent. The banks latest bulletin also stated that job cuts will be crucial to the country’s economic situation. A 2 percent drop in average prices was also stated in its forecast. The Central ... Read More

Central Bank Governor John Hurley said that the Allied Irish Banks and the Bank of Ireland are a crucial part of the state of the country’s finances which is why they cannot be allowed to fail.   At the Joint Oireachtas Committee on Finance and the Public Service, Hurley sent his unfavorable forecasts of the economy due to anxiety and fear in the financial arena as well as unsuccessful regulatory measures. He stated that RI is on its way to a second year ... Read More