Report: Ireland wasted money from the boom

Ireland is not a wealthy country when compared with others within the EU, according to a new report by Davy Research.

The report has also highlighted that the income generated during the boom has "largely been wasted".

Davy's analysis of income generated and investments undertaken in Ireland between 2000 and 2008 concludes that two thirds of the €255bn pumped into the economy during the period was spent building houses.