As ireland's government bails out its banks yet again and wrestles with a budget deficit a third as big as its gdp, prompting a downgrade by Fitch, a credit-rating agency, on October 6th, many Irish businesses are struggling. Failure rates have exceeded 2009 levels for all but two months so far this year. Curiously, though, the financial crisis has made some firms more competitive than they were at the height of the boom.
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