“Emperor Has No Clothes” – EU Warns of Debt Dangers Facing Ireland and EU

– High “structural” unemployment, high levels of public and private debt and a still vulnerable banking sector are weighing on the Irish economy

 – Report further casts doubt on the “recovery” narrative being touted by governments, banks and vested interests across the world

 – Levels of spin and denial not seen since before the crash of 2008

A report by the EU to be published today reviewing the economies of European countries has identified various problems in the most European economies – including Ireland.

In-depth reviews initiated by the European Commission (EC) found no “excessive macroeconomic imbalances” continue in 16 countries, identified in November as experiencing “macroeconomic imbalances.”
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