Friday, November 19, 2010

Putting Ireland's Problems in Perspective

Metro Toronto has about 5.6 million people.   The Irish Republic has just 4.6 million citizens.  Ireland's bank debt is estimated at well over 100-billion Euros.  In 2008, the Irish government sought to save the country's banks by giving guarantees of 400-billion Euros, money they never had.

This is a very small country drowning in a tsunami of debt.  The ancient Greeks warned that Nemesis always follows Hubris.   How did we come to forget that?

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