Ireland
Zut Alors! Cracks in European Housing Market
The housing market slump in the U.S. has spread to Europe, according to this morning's Wall Street Journal. It's the same story over there as here: higher interest rates, tighter lending standards and wavering confidence.
France in the third quarter had its first quarterly home-price decline in almost a decade, and the Celtic Tiger, Ireland, saw home prices in August nearly 2 percent lower than the same month the year before. In Spain, the average home price has fallen since July.
The housing market slowdown could impact these countries' economies, much as it has in the United States.
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McCain Likes Ted Kennedy, Irish Drinking Jokes
Senator John McCain stored up some ethnic backing for a possible 2008 presidential bid last night, stressing his support for immigration reform - and recounting a story about a pair of drunken Irish twins that some of us have heard before.In his remarks, McCain said that America's greatness is a product of the "blood and vitality that is poured into this nation by generation after generation" of immigrants. He also asserted that "we will win this fight" to change the immigration laws.
In a curious sideswipe, the Arizona senator contrasted the openness of the American tradition with France, "where you shovel off the Muslim youth to ghettos and every once in a while they come out and burn a few thousand cars."
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