Pig no more?

摘要

UNDER Ireland's austerity plans, tax rises and spending cuts worth a cumulative €30 billion ($41 billion), the equivalent of 20% of a single year's gdp, will be imposed over the seven years to 2014. Pay and welfare cuts, as well as higher taxes, have all taken their toll on output. House prices have fallen by 43% from their 2007 peak. A year ago the cost of rescuing the banks forced the government led by Fianna Fail's Brian Cowen to seek a European Union/iMF bail-out worth some €85 billion.