Ireland's economy not roaring back
| November 20, 2008 |  View for printing |
It sounded like a bizarre rocker's fantasy: Singer Bono and the rest of U2, recording their songs in an oval-shaped pod suspended at the very top of a 393-foot glass tower overlooking Dublin.
Until this fall, that fanciful project was on its way to becoming reality, a symbol of Ireland's economic success.
Planners envisioned a landmark — known, of course, as the U2 Tower — to be twice as high as any other building now in the Irish capital. The skyscraper was to house U2's recording studios and 180 apartments selling for more than $1 million each.
And then, reality intervened. The $252 million project is on hold for at least a year, a victim of Ireland's economic recession.
The Dublin Docklands Development Authority, which is in charge of the public-private partnership to build the tower, shelved its plans on Halloween, saying the "current unfavorable economic environment" made it impossible to move ahead.
By Jeffrey Stinson, USA TODAY
Full Story: http://www.usatoday.com/news/world/2 ... eland_N.htm
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