Paul Krugman in today's NY Times writes
[...]to satisfy nervous lenders, Ireland is being forced to raise taxes and slash government spending in the face of an economic slump — policies that will further deepen the slump.
Krugman has obviously been reading irisheconomy.ie, but it is notable how informed he is, probably thanks to the chaps (and chapettes) there.
Students, make sure to read this article today, we'll discuss it in class. (ht Michael O'Sullivan for the link).