Another one bites the dust; Romania this time

[joi]

Romania's government collapses after protests

By ALISON MUTLER | Associated Press – 3 hrs ago

BUCHAREST, Romania (AP) — Romania's government has collapsed following weeks of protests against austerity measures, the latest debt-stricken government in Europe to fall in the face of raising public anger over biting cuts.

http://news.yahoo.com/romanias-government-collapses-protests-151141275.html

[nebula]

Romania has announced plans to join the eurzone by 2015, even though as he served in office Boc saw the region's financial crisis bring down governments in Greece, Italy, Ireland and Portugal.

OK, other than Greece, this is all new to me.

[amor]

Romania has announced plans to join the eurzone by 2015, even though as he served in office Boc saw the region's financial crisis bring down governments in Greece, Italy, Ireland and Portugal.

OK, other than Greece, this is all new to me.

There are big problems within the Eurozone (states using the Euro as a common currency). Primarily the problems of the S2o called" PIGS Portugal Ireland/Italy Greece Spain. Greece and Italy have technocratic governments - the prime minesterial role being taken by a civil servqnt or banker rather than a politician. Spain and Ireland have had changes of government (with in Ireland Fianna Fail - the dominant political force since independence in the 1920's receiving 17% of the vote when it has previously always received between 35% and 50%) ;and major street protests. Outside the Euro Hungary and Cyprus have also faced big problems.

[nebula]

There are big problems within the Eurozone (states using the Euro as a common currency). Primarily the problems of the S2o called" PIGS Portugal Ireland/Italy Greece Spain. Greece and Italy have technocratic governments - the prime minesterial role being taken by a civil servqnt or banker rather than a politician. Spain and Ireland have had changes of government (with in Ireland Fianna Fail - the dominant political force since independence in the 1920's receiving 17% of the vote when it has previously always received between 35% and 50%) ;and major street protests. Outside the Euro Hungary and Cyprus have also faced big problems.

OK, thanks!

What is the significance and impact of Ireland's change of gov't?

[amor]

There are big problems within the Eurozone (states using the Euro as a common currency). Primarily the problems of the S2o called" PIGS Portugal Ireland/Italy Greece Spain. Greece and Italy have technocratic governments - the prime minesterial role being taken by a civil servqnt or banker rather than a politician. Spain and Ireland have had changes of government (with in Ireland Fianna Fail - the dominant political force since independence in the 1920's receiving 17% of the vote when it has previously always received between 35% and 50%) ;and major street protests. Outside the Euro Hungary and Cyprus have also faced big problems.

OK, thanks!

What is the significance and impact of Ireland's change of gov't?

I'm not an expert (i probably know more about Italy and Spain than Ireland) but from what I gather from the British media the Irish seem to be weathering the crisis better than the other countries in their situation. As to the specific decline of Fianna Fail, well this was the party of those who won the civil war of the 1920's so to some extent one of the main pillars of the traditional state seems much diminished; the other pillar the Catholic Church has also lost much of its authority in recent years. Most noticeably in an endless series of paedophile scandals.. The other sad reality is that young people see no alternative to emigration to find work. This is in some ways an old story as it was also the norm until the latye 1980s, but after that /Irtelamnd had two decades of prosperity and net immigration.

[Guest]

Irish recovery from “austerity” update, not exactly the Keynesian story by Tyler Cowen on September 22, 2011 at 12:41 pm

The economy expanded at a faster rate than expected in the second quarter of the year, putting in its strongest quarterly growth performance since the recession began, according to new data published today.

The seasonally adjusted figures estimated that gross domestic product – the widest measure of economic activity - rose by 1.6 per cent between the first and second quarters of 2011. Gross national product, which excludes the profits of multinational firms, increased by 1.1 per cent compared with the first quarter of the year.

Domestic demand, which excludes exports and imports, expanded too, growing by 0.8 per cent.

It is the first time since the recession began that GDP, GNP and domestic demand all grew in the same quarter.

And all that in some very bad times for the U.S. and Europe, two main buyers of Irish goods and services. The link is here, sadly this progress probably will be swept away by the forthcoming European implosion, we will see.