January 2002 Issue of International Living
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Dear Reader, What’s to come in this third year of the 21st century? Here in Europe, 2002 marks the introduction of the euro. Starting this month, 12 countries take their own currencies out of circulation and replace them with the new common tender. This is the largest currency switchover ever attempted. (It’s also a free transaction, by the way.) In Ireland, 2002 promises recession. The Celtic Tiger has been reduced to a kitten. In fact, it wasn’t a Celtic Tiger…but an American Tiger. And U.S. companies have been pulling out and laying off here in the Emerald Isle since last summer. Hotels are closing. Several weeks ago, Aer Lingus auctioned off its collection of artwork (for a total of 500,000 Irish pounds) in an effort to raise some cash. Property prices are down and falling. In other words, this is a good time to begin looking at real estate in Ireland again. Generally, in fact, throughout Europe, this is a good time to be seeking the safety of bricks and mortar….
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