Wednesday, July 21, 2010

Second Troy

Bloomberg News collects quotes hailing Ireland --

“The scale of cuts in pay and spending here are unprecedented across Europe,” said Garret FitzGerald, 84, the Irish prime minister in the 1980s who reduced budgets and raised taxes. “We’re Northern European, less emotional, and more accepting of what needs to be done in a crisis.”

You have to read the article a couple of times to see that by the economic measure to which it gives most attention, the budget deficit, Greece is doing much better than Ireland. Especially because it had no banking crisis.

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