Myra Garrett: Ireland may be down, but it's not out
The global economic downturn is having a profound impact on the Irish economy. In February, unemployment rates rose to 10.4%, the highest level since October 1997 - a forecast Exchequer deficit of €17.8bn (£16.2bn), or 11.8% of gross domestic product (GDP), and a fall in real gross national product (GNP) of 4.1% are reported. All of this is in stark contrast to the position 15 months ago when unemployment stood at 4.6%, there was an Exchequer deficit of €1.3bn (£1.18bn), or 1% of GDP, and GNP grew by 4.1%.
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