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What will happen if the Irish economy collapses?

Despite reassurances from the Irish authorities that the Irish economy is not on the verge of collapse and a multibillion pound international bailout is not required, investors are still running shy of Irish sovereign debt investments. A report by the renowned Barclays Capital group has further highlighted the difficulties that the Irish authorities are experiencing in relation to the financial sector which is in severe trouble.

Whether or not the Irish economy is on the verge of collapse, or whether the government is on the verge of asking for international assistance, is by the by because international investor confidence in the Irish economy and Irish government has hit rock bottom. It will take a massive shift in confidence to rescue the Irish economy at a time when investors are actually running scared on an international basis and effectively looking for the next country to collapse. The debate as to whether the Irish economy is on the verge of collapse continues today but ultimately we have moved to a different level with the report from Barclays Capital and the response from international investors.

A collapse of the Irish economy will test the resolve of the European Union at a time when funding is relatively thin on the ground and the Greek debacle has not yet been put to bed.

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