Ireland on ABC's Lateline - Economic Miracle to Economic Basketcase

Daithio

Anybody catch this? Made me cringe a bit, especially when they had some knacker talking about how "Oirish aren't racist, but...", you get the idea. Made me glad that I just got granted my residency over here anyway!

totoal

link

PhiliousPhogg

A guy at a coffee stand asked me about this today when he heard my accent.

Interesting piece and did some good interviews.

It was good to hear from John Fitzgerald from the ESRI. Some interesting stats, the economy grew 100% in a decade and construction made up 14% of the economy compared to 5% in most EU countries.

It's pretty shocking to see a 60 year old architect talking about not working again.

I'd love to go back for a week or two just to see it all.

That was an awful comment from the guy who said there was resentment about seeing foreign people in working in shops. Even a year ago Irish people wouldn't do those jobs because of the low pay and unsociable hours. Not even teenagers. Pity they included that bit, they probably wanted to build up the impression of discontent.

The Sweeper

If it was an ABC programme you can assume they'll ham up the negativity for the sensational aspect. Am not a fan of anything they produce.

eringobragh

I'd hope people don't asume "Tommy O'Brian, UMEMPLOYED' was the vocie of the people of Ireland!

lady_j

eringobragh wrote: »

I'd hope people don't asume "Tommy O'Brian, UMEMPLOYED' was the vocie of the people of Ireland!

to be fair if they really wanted to sensationalize they could have filled the segment with Tommy O Brien types- there's enough of them about

While I don't think this is brilliant journalism in any way, it was very interesting to see this mess from an outsiders perspective. Especially visually, the cranes, empty shells of buildings, empty finished apartments. The media here are focusing on the human face of the recession- pictures of the ever lengthening dole queues etc - Looking at all those empty buildings in the news segment, is almost far more depressing. Our dreams, prosperity, future all built with sand.

Thanks of the link, I think I'm guaranteed to go back on the road now!!

mike65

I thought that was a pretty fair report, "trenchfoot" and the like never gets mentioned on RTE.

Zambia

ABC are by far better than the big three in hamming it up. Problem is unlike Irelands previous times this is a world wide thing and there is nowhere to run to. Talk of mass migration is a mute piont when they is no place to go

myhorse

Just had a look at that. Pretty much the the story alright (albeit with some dramatic license).

Front page reports in the local papers with stories of architects and accountants applying to a maccers this week. yesterday kpmg announced they are letting 200 go and 10% & 5% pay cuts for the others depending on salary. Architects are being let go left right and centre at the mo. that bit is true.

Property prices are falling through the floor (bad for anyone that bought between 05-08). emergency "mini" budget been announced. geez its bad all right. and as someone said there isnt really many places to go.

Zambia

I would say some grad applied for a job in Macckers and the story leaked that Architects are applying in macckers.

"would you like some extension plans with that."

acontadino

'that job, polish job for the irish job' lol.

dont know what the big deal was with that to be honest, whats the difference between that and employers where you are only hiring austrlians?

not like australia is exactly immigrant friendly either.

anywya hopefully australians see the good side..those women helping the polish/irish/lithuanian homeless

Daithio

Minesajackdaniels wrote: »

If it was an ABC programme you can assume they'll ham up the negativity for the sensational aspect. Am not a fan of anything they produce.

I thought it was a fair enough assessment, to be honest. As far as tv media goes over here ABC is head and shoulders above the rest, although that's not saying much.

myhorse

Am not in the industry but I know architects are getting a hard time at the mo with huge layoffs across the board (recent grads and very experienced ones. No work simple as that)

Same with solicitors with all the house buying/selling gone (I know one personally who is gone ,after 4 yrs, and has told me he knows of many many more. There was an article posted on here recently from an Australian paper saying about the no. of solicitors trying to come to Aus). In fairness most of these would be ones purely dealing in property law. The recent grads, or ones looking for an apprentiship(sp?) are finding it very very hard

I follow the Aus papers very closely pending my return(no red carpet please) and I must say while all the bad news here since september was going on the Aus media were pretty upbeat. However in the last 2 weeks I notice similar type of stories are starting to appear. I always reckoned Aus was about 6 months behind the world (I dont mean that in a smart comment way but economically). I wonder what the end of the tax yr will bring?

Daithio

There is no doubt that Australia will suffer over the next year or two, as world demand for its exports plummets, but there is also no doubt that it is in a far superior situation to Ireland, for the following reasons.

1) The banks here have been properly regulated and are not exposed to anywhere near the default levels that the Irish and American banks are facing.
2)Property vacancy rates are extremely low, the population is growing fast, and immigration is high, which means that there is unlikely to be the sort of property price crash that Ireland has seen.
3)The Government is not restricted by EU deficit restrictions, and is free to cut taxes/ increase spending as it sees fit, unlike in Ireland where the Govt has to cut back on spending.
4) Australia has an autonomous, floating currency, and the Reserve Bank can weaken the dollar as it sees fit to boost foreign demand for domestic goods
5) Related to this is the fact that the Reserve bank still has room to maneuvre, as opposed to say the US who have already cut rates as far as they can go.
6)China is committed to not letting it's economy go under, and is currently unveiling plans to boost spending and demand. This is very good for Australia as they are major trading partners.

Overall, Australia is definitely going to feel the pinch as world demand drops, but relatively, it is in a fantastic position (better than any other developed nation I would argue) to weather the storm of the next couple of years.