Summary Box: Debt crisis hits Ireland hard
EMERALD ISLE: A report from Ireland's Central Statistics Office economic dashed hopes of only a slight drop in economic activity. Ireland's economy shrank by an unexpectedly large 1.9 percent in the third quarter.
LA FURIA ROJA: Spain's central bank reported that debt levels for the country's 17 regions have soared 22 percent over the past year.
THE GENTLE LAND: In Portugal, the main opposition party refused to support the government's plan to amend the constitution to include a budget limit. All 17 members of the eurozone are supposed to make such commitments.
L HEXAGONE: Fitch maintained France's credit grade at Triple-A, but revised its outlook to negative.
THE WAY FORWARD: The news from Ireland was the most troubling for many economists. Hopes were high that severe budget cutting would be enough to spring Ireland from its dismal economic slump and serve as a model for other countries trying to follow similarly austere policies. The nation's faltering growth could deepen the divide between those who want to slash government spending, and those who believe governments must invest more money to get economies growing again.
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