Economic pessimism takes hold in the Republic…

Over at P.ie David has some figures from the Euro Barometer poll which show the lack of economic optimism in the Republic just now. It makes for grim reading:

14% of Irish people believe the situation for the Irish economy looked good, this is a year-on-year drop of 62% from 76%. The EU average was 29% (down 19), with the highest proportion being that of Finland, with 78% believing their economy looked good, Denmark followed with 70%.

Belfast in contrast has been given the title Paris of the North by Frommer’s travel guide… Though as noted on last week’s excellent edition of Let’s Talk, not much of the receipts from the massive inflowing southern retail spend will stay in Northern Ireland for more than 24 hours…

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  • picador

    Anyone who terms Belfast the Paris of the North is not fit to write travel guides.

  • slug

    Mick

    The revenues from southern shoppers may go to Tesco et al but:

    1. The tax receipts will be welcome to us as tax payers. NI earning tax.

    2. The large supermarkets do employ people here, and extra people as a result of the boom.

    3. The large supermarkets do source their fresh produce locally, e.g. all milk from Dale Farm, local meat and so on etc. So local producers benefit.

    4. Sainsubry is owned by its shareholders many of whom live in NI. Those of us who have money in FTSE tracker funds (me), in pension equity plans (me), or just straight shares in Sainsbury (my brother) will receive a dividend regardless of where we live.

    5. The retail boom is not limited to large multiples; independent retailers benefit from the footfall on our High Streets.

  • picador

    I followed the link:

    It said the city was “moving fast towards its 19th-century accolade of the Paris of the north”

    Ha ha! Whoever wrote this has been seriously misled, perhaps in a bar after several pints of the black stuff.

    I do believe that Belfast was once labeled (perhaps by a forerunner of the Tourist Board) as the Athens of the North.

  • slug

    picador, yes Belfast is not Paris, but still, we tend to underestimate ourselves. There is a lot of room for tourism sector growth and the low £ is good for this sector.

  • Ulster McNulty

    “I do believe that Belfast was once labeled (perhaps by a forerunner of the Tourist Board) as the Athens of the North”

    Athens seems to be a more like the “Belfast of the south” these days, or Belfast before it was the Paris of the North at any rate.

  • It was Sammy Mc Nally what done it

    “14% of Irish people believe the situation for the Irish economy looked good”

    This survey is more of an indication of the poor mental health of 14% of respondents than of the economic conditions of the country.