Sounding the economic death knells

From Reuters:

Ireland’s was the first eurozone economy to slip into recession this year, figures showed on Thursday, as the bursting of a property bubble ended 25 years of sustained growth in the once mighty ”Celtic Tiger”.

Official data from the country’s Central Statistics Office showed gross domestic product (GDP) fell for the second successive quarter in the three months to end-June, the technical definition of economic recession.

I thought we were already in a recession, but hey, what do I know?

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