What is really killing the Irish Economy?

First See the Chart Below:

Irish M3 in Million €
250.000
230.000
210.000
190.000
170.000
150.000
130.000
110.000
90.000
70.000
May-03

May-04

May-05

May-06

May-07

May-08

May-09

May-10
Jan-03

Jan-04

Jan-05

Jan-06

Jan-07

Jan-08

Jan-09

Jan-10
Sep-09
Sep-03

Sep-04

Sep-05

Sep-06

Sep-07

Sep-08

Sep-10
Source: Central Bank of Ireland

Based on my Spanish experience, that you can see in the following link: The Spanish
Monetary Nightmare, the answer is in the chart above, that shows that neither the Irish
Government nor the European Central Bank, via de Irish Central Bank, are able to re-structure the
Irish Banking Sector, to restore confidence and expand credit again; as a result, both, but specially
the ECB and the talking heads of the European Union, in conjuction, are creating an
unprecedented contraction of the Money Supply in Ireland. They are the real responsible people
of ruining Ireland and the creation of this second round in the Global Financial Crisis.

Luis Riestra Delgado

11/16/2010