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Irish Ambassador: Crisis Has Hit Ireland More than Bulgaria

Date: 27.05.2009

The Irish Ambassador to Bulgaria, Geoffrey Keating, has stated that Ireland has been affected more by the global financial crisis than Bulgaria.

In an exclusive interview for Novinite.com, Keating stated; "Without any question, the crisis has had a more severe impact in Ireland, coinciding as it did with the collapse of the domestic property market."

Keating said that Ireland's "banking sector is facing severe challenges and the Government is also tackling a fiscal crisis," and added; "While I remain optimistic about the Irish economy in the medium term, this year and the next will be tough for us."

Keating concluded by confirming that "there has been a fall off of Irish investment in Bulgaria which reflects both the problems the Irish economy is experiencing as well as the global financial crisis."

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