Ireland: it’s still getting worse

According to Jorg Asmussen, ECB-politician and would-be siren, Ireland is a lode star for the Greek. But how is Ireland doing?

* People are disappearing from the island at a rate of 1,7% of the total population a year
* Despite this, unemployment has hit a historical high. We should not read too much into one month of data, but still, a historical high…
* And money (m-1, consisting of currency and overnight deposits, as well as the broader M-2 and M-3 concepts) is also still disappearing from the Island, which indicates that households as well as companies are still deleveraging instead of investing

And whoever wants to work and to invest in a country were people and money are rapidly disappearing? Hey, Jorg, the crisis is by now the real problem.

(See wikipedia for the differences between M-1, m-2 and M-3)