Budget Troubles

Add Ireland to the list of countries including Latvia and Dubai that are in serious difficulty.

The Financial Times reports that the budget deficit is so large that they are expected to cut health care by 30 to 40%!
The path the Irish are currently on is very serious. Consider the following excerpt:
Without reform, Irish public debt would rise from around €76bn today to €160bn by 2013, by when two out of every three euros raised in taxes would be going to debt service

See the full article here: http://www.ft.com/cms/s/0/9edae672-ba6f-11de-9dd7-00144feab49a.html