The country's external debt per capita is $503,914 .

It's national debt is 94.2% of GDP.

The Irish economy entered severe recession in 2008. Ireland officially left recession in the first quarter of 2010. In the deficit 2009, Ireland ranked second in the European Union (EU) area after Greece, accounting for 14.4% of GDP.

The liabilities of the Irish banks represent a figure equivalent to approximately 309% of GDP, the third highest in the EU.

In April 2011, despite all the measures taken, Moody's downgraded the Irish banks' debt to junk status.