The Irish Times featured an interesting article this weekend. It said:
DURING THE 1980s, when Ireland was in the throes of a dreadful recession and high unemployment, the then minister for foreign affairs (the late Brian Lenihan), famously observed: "We can't all live on a small island." People left in droves.
And that is exactly what they're going to do this time too, if they can. The article rated the options on where to go.
People have criticised me in the past for saying the Celtic Tiger was a myth built on the back of tax cuts and what was, fundamentally, hot money. It's now glaringly obvious I was right. The myth has been shattered.
I hope Ireland learns the lesson.