Krugman’s “worst-case outlook for the world economy”

Apparently, AIB needs another €1.5 billion.. as you do.. Meanwhile, as Cian noted, Kensei’s favourite economist Paul Krugman has some words of warning in the New York Times

As far as responding to the recession goes, Ireland appears to be really, truly without options, other than to hope for an export-led recovery if and when the rest of the world bounces back.

Go read the whole thing. Adds Tánaiste Mary Coughlan – “There has been comment which has been neither helpful nor, in my view, appropriate, and I would like to move on from that and give the view that we have collectively as a Government have, yes, difficult times, but we have the capacity to deal with these issues and we would like to revert back to the international reputation we had and continue to have.”

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