The news today in Ireland are nothing but disappointing , after few months of good growth and steady recovery, the Irish economy was hit hard today buy the news that it shrunk by %1.9 in the third quarter and according to the experts this is 4 times higher than what they expected . this is due mainly to the %20 decline in he construction sector, but other business & sectors are doing well , also the same bad news emerged about Europe's second largest economy , France, is apparently heading back to rec**sion . i think all these bad news & scary figures will not help in calming the markets & solving the euro crisis , sadly al this will leave the European property market in it's current situation .