‘Dr Doom’ says Ireland is going in the right direction

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Nouriel Roubini interview on RTE Radio.

Some highlights, he is more optimistic about Ireland because

1. The fiscal adjustment has been done in more credible way, sooner than in Greece, Spain & Portugal
2. Ireland is more flexible, dynamic, entreprenuerial and has suffered less of a loss of competitiveness than the other PIIGS
3. There is light at the end of the tunnel for Ireland

He thinks it’s not going to be easy, but relative to other members of the Eurozone Ireland could end up doing better over time. He thinks that some countries may leave the Eurozone, reading between the lines, probably not Ireland.

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