A: The Celtic tiger has in three years gone from boom to bust after a housing bubble burst with house prices falling 60%. Bad debts have forced the Government to bail out the banks, hiking its budget deficit to forecast record levels.
Q: Why is Ireland in such a mess?
A: The Celtic tiger has in three years gone from boom to bust after a housing bubble burst with house prices falling 60%. Bad debts have forced the Government to bail out the banks, hiking its budget deficit to forecast record levels.