This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

10,000 March In Dublin Against Next Irish Budget

Ireland faced the risk of national bankruptcy in 2010 when it was forced to negotiate an international bailout. The last of the ⿬67.5 billion borrowed from European Union partners and the International Monetary Fund is scheduled to be spent next year, by which time Ireland is supposed to be borrowing normally again on bond markets. It has begun to dip its toe back into those markets since the summer.

While many on Saturday's march called for sterner action such as national strikes, labor leaders here have sought instead to negotiate with the government in hopes of minimizing job losses and pay cuts.

That tension between a radical grassroots and cautious leadership was obvious as union leaders tried to speak from a makeshift stage in front of Dublin's colonnaded General Post Office, but were interrupted by hecklers chanting "Strike!"

"We need to play our part in the growing movement of resistance across Europe," said Richard Boyd Barrett, a member of Irish parliament from a small socialist pressure group called People Before Profit. "And we have to bring this government down if they continue with this disastrous policy of austerity."

The government is trying to get Ireland's deficit back to 3 percent of economic output â¿¿ the supposed limit for eurozone members â¿¿ by 2015. Its deficit last year exceeded 10 percent, but this year is forecast to fall to nearer 8 percent.

Cuts and tax hikes already have reduced people's average net pay by around 15 percent from the Celtic Tiger boom days, and new annual taxes on homes and water are supposed to come in 2013. Unemployment sits near a 17-year high of 14.8 percent, a figure that would be far worse were it not for Ireland's tradition of emigrating worldwide for jobs.

Ireland is hoping for 2013 economic growth of 1.5 percent driven by the exports of the nearly 1,000 foreign multinationals based here producing goods and services, chiefly in computer and health technologies.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs