11 Countries With More Problems Than America

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Ireland

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(Peter Morrison/AP)

Famously low corporate tax rates haven't stopped Ireland's economy from shrinking by a punishing 14 percent since the global recession hit in 2008. A worse housing bust than that of America and a wrecked banking sector forced a European bailout last year that calls for sharp spending cuts likely to make joblessness worse—and possibly force those tax rates up.

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