The country is broke

The country is broke

The country is not broke. The Irish State is fully funded up until mid-2011; it is the banks that are running out of money and precipitated the arrival of the IMF/EU. Ireland is still a wealthy country. In 2007 the richest 1% of the population owned 34% of the wealth. In October 2010 the economist Tom O'Connor estimated that the total net worth of 33,000 Irish millionaires was €121 billion. In 2009 Google Ireland Limited increased pre-tax profits to €47.5 million, from €10 million in 2008.