French media coverage of Irish economic policy emphasises the government's decision to penalise individual taxpayers in the hope of reassuring investors.

The former Celtic Tiger owed its prosperity to foreign investment, Le Mondenoted in its coverage of the budget. "The only hope of recovery is the presence of foreign groups.... Dublin is counting on them to bring back growth once the global situation improves. If they decide to leave, like the US information technology group Dell, ... the country will lose its lifeline... This is why Dublin chose austerity over stimulus, in the hope of saving what little is left to be saved."

The economic daily Les Echosquoted Nathalie Dezeure, an economist with the French group Natexis: "The two main engines of growth (exports and property) broke down, and there is nothing left to pull the Irish economy," she said, adding that "The government has no choice." With ratings agencies hurting Ireland's reputation, Les Echossays, the government "must imperatively reassure."

Articles in Le Mondeand Le Figaronoted that Ireland is maintaining its 12.5 per cent corporation tax rate, which is considered scandalously low here. "Companies rest assured," said Le Monde. "At the moment, there's no question of their taxes being raised... On the other hand, individuals will suffer."

In their budget coverage, Le Mondeand Le Figaroreminded readers that 120,000 people demonstrated against Irish government policies on February 21. Rising unemployment "is likely to further exacerabate anger", Le Mondecommented.

The establishment of NAMA "has the opposition screaming" Les Echosreported. "For them, this bank bailout plan means, once more, hitting taxpayers who are already on their knees, in the midst of economic collapse and exploding unemployment."

Whatever about economic theory which dictates "counter-cyclic measures", Les Echossays. "The government seems to consider that it has no other choice than economic rigour – at the risk of further accentuating the downward economic spiral."

But Les Echosalso reported that the EU Commission congratulated Brian Lenihan on his "inevitable bitter potion". No social category is spared, the paper said, noting that aid to families with small children and Christmas bonuses have been cut.

The economic daily La Tribunereported that Irish authorities have worsened their economic predictions three times this year – from the 4 per cent reduction in GNP foreseen in January, to the 7 per cent slowdown cited by the Central Bank on April 3rd to the 8 per cent decrease predicted by Brian Lenihan on April 7.

Following a luncheon with economic journalists at the Irish embassy in Paris on St Patrick's Day, Le Parisiennewspaper sent its correspondent Séverine Cazes to Dublin. Her report, published on April 20, begins: "The Irish are in a state of shock... they are stunned to discover that their economy is ruined. A banking system on the verge of collapse, a devastated housing market (houses have lost 50 per cent of their value in one year) and runaway inflation."

There will be political consequences , Le Parisienimplies: "In June, the Irish who participate in European and local elections will go to the ballot box thinking about their soaring taxes."

Le Parisiennotes that the April 7 budget was the third crisis budget in a year. "Even recent millionaires no longer feel like laughing. In Paris, on the Île Saint-Louis, where many Irish people fell for apartments with a view of the Seine, no one talks about renaming the neighbourhood Île Saint-Patrick."

Le Parisien'stwo-page spread includes the story of Anita and Muhamet Gashi, who are both unemployed. Anita lost her job in a textile factory in 2004. Muhamet, an immigrant from Kosovo, lost his job in the construction industry in January. The couple and their two children are living on €1,552 per month and are considering moving to Belgium, where Muhamet's brother is a mason. "True to their history, when unemployment strikes their little island, the Irish don't hesitate to take to the sea," says Le Parisien.

But Le Parisienincludes two positive stories: an interview with Eamon Ryan in which he explains that his ministry's budget is increasing 7 per cent and that he's launching a €50 mn plan to insulate houses, which will create 2,000 jobs. "This situation can push us to make big changes," Ryan says.

Le Parisienalso tells the story of Anne-Marie Boyhan, 31, who lost her job in January and has since launched a website called "What she wears?" which is dedicated to fashion. The paper praises Boyhan for "not resigning herself to unemployment", implying that such resilience is rare in France.

"The corpse of the Celtic Tiger is on display in Ireland. You can visit it, like Lenin in his mausoleum," said an opinion piece in Le Monde. Marion van Renterghem visited an empty shopping centre in Longford, and a half-finished housing estate whose "cement carcases were abandoned in mid-construction."