This week EU President Jose Manuel Barosso argued that austerity in Europe may have run its course. It follows the publication ten days ago of new research by a 28 year old economics student at the University of Massachusetts in Amherst that has thrown a major spanner in the economic works.
He showed that two of the world's most influential economists Ken Rogoff, formerly the Chief Economist at the IMF, and Carmen Reinhart of the Massachusetts Institute of Technology, two influential economists who support austerity, had made huge errors with data. The Amercian student who blew the lid on it all, Thomas Hendron joins us now.
We're also joined by Alan Barrett, head of the Economic Analysis Unit at the ESRI and Professor Steve Keen who joins us from Sydney.
As Ireland's Great Recession rumbles on we've heard lots of stories about the big efforts some people are making to get on with things. The town of Mallow in Co Cork has taken it all to a whole new level.
Local people there have come together to raise €300,000 euro to help teachers get extra training in science, and they've even begun to teach Mandarin in schools there. Brian O'Connell went to find out more.
Earlier this week, the Twitter account of the Associated Press news agency in America was hacked by saboteurs who sent out a bogus tweet claiming there had been two explosions at the White House and that President Obama had been injured. Immediately $200 million dollars was wiped off values in US financial markets.A group calling itself the Syrian Electronic Army subsequently claimed responsibility.
Most hackers however, have profit, rather than politics, in mind.
Rik Ferguson, Vice President of Security Research at Trend Micro, is an expert on Cyber Crime and he joins us from Poland.
Independent News and Media was in the headlines again with news that the Group had brokered a deal with its lenders - including the major state-owned banks- to write off almost €140 million of debts. The company also announced that it is seeking 100 redundancies as part of new cost cutting initiatives.
To discuss the implications we're joined by Roy Greenslade, Professor of Journalism at City University in London, and by Siobhan O'Connell from Business Plus Magazine.
Since the 1980s, Edna O'Coineen has started over a dozen companies, made several Atlantic crossings by boat, and sailed in the Whitbread "Around the World" race.
He is no stranger to the stormy seas of business - with interests from Eastern Europe to the Caribbean, and from publishing to renewable energy. In fact, there seems to be very few industries he hasn't invested in. He's now in the process of putting the finishing touches to an Irish village in Haiti. He joins us in studio.