I was doing quite well with the link until I came across this -But it ain't working:
As the salt pillars of austerity crumble there will be enormous opportunities - Independent.ie
"Even Michael Noonan, a supporter up until yesterday, has had a volte face extraordinaire and is now saying that the Irish presidency has been working tirelessly to dismantle austerity behind the scenes. This is obviously why the Irish presidency oversaw the austerity-driven shambles in Cyprus two weeks ago!"
Then something odd happens: retailers respond by cutting prices. But when people who are worried see prices falling, rather than conclude that there is a bargain to be picked up, they conclude that prices will fall further, so they actually spend less. We are witnessing this in the retail carnage in Ireland at the moment.
Not sure what retailers he had in mind but I can't think of many that have dropped their prices and people stopped buying because they didn't have the money or because they didn't know where the next euro was coming from or when the government would take it off them!