Ireland has 'severe difficulties'
In the space of two years, Ireland's economy has gone from boom to almost bust. In the 90's, the country was bolstered by a huge property boom. Since the recession, the government has struggled to pay a huge deficit, inflicting huge cuts cuts similar to the sort facing in the UK.
The Irish finance minister, Brian Lenihan told the BBC that whilst the Irish Republic still has ''a thriving economy'' it must ''put its budgetary house in order''.