With an economic slowdown, how will the standard of living in Ireland be affected?

Question

There's a lot of talk of a 'soft landing' with the drop in house prices and the slow down of the economy but surely there will be some clear consequences to the fact that people in Ireland are in quite a lot of debt. Any ideas of what we can expect?

Answer 1

many capitalist countries are having a slow down because the debt to income ratio is becoming smaller they are pushing the spend spend spend theory but the consumer has to have a decent job to back this but all new businesses are retail and food oriented and do not allow for this theory to work in the long run because the middle class spenders are being greatly reduced in number to the working poor we are basically killing ourselves slowly

Answer 2

Not all countries have the same problems with Sub Prime as the US. Government controls exist in these countries to protect both borrower and lender. I think Ireland is one of these countries. Debt may be high but the sub prime crisis won't hurt as much there.

Answer 3

Adversely.