Ireland’s Economic Crisis
I was going through the Wall Street Journal when I came across an article on Ireland. There were in fact, three articles on Ireland. Specifically about its economic crisis. I was immediately concerned. This is where I planned to study abroad. Since the economic crisis of the US, we have seen more economies on the verge of failure in Europe. It is restricting travel to other places, and currency exchange is becoming exceedingly disproportionate.
Europe is finding it harder and harder to cope with the economic statuses of the individual countries. This may or may not be a direct result of the transfer to the Euro. It could hurt students that are wanting to study abroad, not just to Ireland, but to other places as well: Greece, Spain, etc. We are really starting to see just how “global” the economy is, which in effect makes it like dominoes. Slowly countries have been falling, and few are able to right themselves. Ireland seems to be one of the few that has so much in reserves that they don’t need to tap into the EU reserves.
The US’s failing economy roughly two years ago seemed to start a string of events, as our shares in other nations, and their shares in us, were affected. Americans were hit hard for a period of time, but now things have “bottomed out” according to economists. Things have not, however, bottomed out for Europe. The same spiral of events that happened here are beginning in Europe.
Source:
Blackstone, Brian. “Irish Crisis Shakes Europe – WSJ.com.” Business News & Financial News – The Wall Street Journal – WSJ.com. 01 Oct. 2010. Web. 02 Oct. 2010. <http://online.wsj.com/article/SB10001424052748704116004575523121071932284.html>.
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