The Worlds largest debtor nation
Read The article by Theodore Dalrymple How The Irish Bubble Burst -microcosm of globel economics .
Ireland twice the size of Switzerland , it does have a well educated population and trade surplus - but there is no way its population could pay back a debt that is close on half a million US dollars per paddy - what's the in Euros?
The Irish gross external debt is close on half a million dollars for every person in Ireland -the little people exepted. That is the money owed to lenders in other lands eg The Royal Bank Of Scotland which lent $50 Billion .