Ireland: IRL Celtic Tiger Defanged.

We last posted on the IRL {the new Ireland Fund-a closed ended fund, not an ETF} on 2.09.09 where we noted that the IRL was down almost 90% since its highs in 2007 but up 5% since December. Well the last months carnage has not spared the folks over in "The Old Sod". IRL has lost another 30% since that post. Like all over, things are bad there right now. If no turn around comes soon, expect to see the youth of Ireland do what their ancestors have done for centuries, immigrate.

Link to previous article: http://lumencapital.blogspot.com/2009/02/irl-another-to-watch.html