Word: dubliners
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...soon as I envision this admittedly distant prospect, though, I can’t help but feel a measure of nostalgia, already, mixed with my exhilaration. Last summer, I spent a glorious week in Dublin at the National Library of Ireland, reading dusty volumes of 18th-century pamphlets for my thesis. In the world after Google Books has conquered all libraries and the Book Espresso Machine has delivered them all to bookstores around the country, will such trips even be necessary...
There's an eerie silence in Adamstown. Between the rows of sleek apartment buildings in this new housing development in suburban Dublin, buses meander the empty streets, searching in vain for passengers to take into the capital. On street corners, pedestrian crossing lights shine brightly, ready to guide residents through the nonexistent traffic...
...Those who support NAMA say Ireland has little option but to take the plunge. The International Monetary Fund has predicted that Irish banks could lose up to $53 billion next year if they fail to get rid of their toxic assets. For Pat McCloughan, a Dublin-based economist, the looming bankruptcy threat outweighs all other concerns. "Unfortunately, developers going out of business and home repossessions are an inevitable part of [the downturn]. But a much bigger problem would be if one of the big banks was to fail. That would have massive repercussions for a small country like Ireland...
...Other economists aren't quite so convinced. Brian Lucey, a professor of finance at Trinity College Dublin, has been one of the most vocal critics of the scheme. "We end up with a situation where we bail out shareholders and bondholders first, then deal with taxpayers, rather than the other way round," he says. "The taxpayers are on the hook anyway. The question is, What do they...
...Dublin...