IrishCentral's reaction to Paul Krugman's "Erin go Broke" op-ed in the New York Times Click Here

How Krugman got it wrong on "Erin go Broke" piece Click Here

Paul Krugman spoke in Dublin Friday morning and said that it could take five years for the Irish economy to match growth rates of fellow euro zone states.

The Noble-Prize winning Princeton University economics professor delivered a lecture hosted by Merrion Capital in the National Gallery.

"Ireland's economy will experience long, slow, grinding deflation," the Irish Times reported Krugman saying during his speech.

Krugman went on to add that the seeds for Ireland’s current economic demise were sown when Ireland moved in to the Euro zone, stating "the decisions that put you in this box have been made," and that the country can expect a drop in wages and prices as the government takes action to improve the economy

Krugman, an op-ed columnist for the New York Times who wrote a piece entitled “Erin go Broke” in April that stirred some controversy at the time, says that international markets have lost confidence in the Emerald Isle.

 

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