Reply #36

http://www.guardian.co.uk/business/2012/mar/22/eurozone-crisis-portugal-strike-austerity


Police officers at the Rossio railway terminal this morning, ahead of the general strike in Lisbon. Photograph: Rafael Marchante/Reuters

11.04am ust in - Ireland has fallen back into recession.

GDP data released at 11am GMT showed that GDP in the last three months shrank by 0.2%. That followed a 1.1% contraction in the third quarter of 2011 (revised up from a previous estimate of a 1.9% fall).

Ireland thus joins Greece, Belgium, Portugal, Italy, the Netherlands and Slovenia in recession.

Update:

Because Ireland is home to many international companies, it is also worth looking at its Gross National Produce (GNP), which discounts output from these firms.

But on GNP terms, Ireland is shrinking even faster. GNP fell by 2.2% in the fourth quarter of last year, following a 1.9% decline in Q3 2011.