Will the Republic of Ireland go bankrupt? By Paul Murphy

With interest rates on Irish bonds hovering around 7%, it is clear that financial markets are increasingly pricing in a high chance of Ireland "going bust". In this article, socialistparty.net traces the prospects for Irish state insolvency, the deepening economic crisis and the consequences for the workers' movement.

In recent weeks, the gap between the reality of economic crisis and the pronouncements of government figures have grown ever larger. While the bond markets demonstrate their lack of confidence that the government will pay back its loans, the government announces empty plans to create 300,000 jobs, all the while cutting public sector jobs! Brian Lenihan increasingly cuts a desperate figure, incredibly welcoming the “remarkable turnaround” in the Irish economy, while the figures indicate a continuing recession.

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Worst banking crisis in history Insolvency & recession... Will Ireland go bankrupt?