Inflation in the Celtic Tiger
This section from a Wall Street Journal story today about the pension system in the Republic of Ireland gets something essentially right about the post-boom country:
"[Pensions are] a slow burner," said a Pensions Board spokeswoman. "Unless you're in a company pension, people put pensions on the long finger. If they don't start now, they could end up with a state pension for €157 per week."
"In Dublin, €157 is a good night out," she added.
With the quality of the average Dublin restaurant, we're not sure about the 'good' part. But that's beside the point.