Monday, November 22, 2010
The Irish government has decided to take a bailout after weeks of refusal. It is a come-down for a country that was a modern economic miracle just a few years ago. One wonders how the economy spun so far out of control, but then one needs only look at the US to find a similar example. From a PR perspective, Ireland's reputation has taken a major blow, and it may take years, if not decades, for the country to recover. The population's solution to economic hardship is emigration. The young are starting to leave again. That has to be a heartache for Ireland's politicians who spent many years trying to stop the flow of people from the country. It is hard to blame Ireland's economic planners for wanting to improve the lives of citizens, but it is a reminder that giddy economic times usually cover up deep-rooted problems. It doesn't do away with them.