policymakers will join in the public sentiment of trying to get japan on track. the question is, do you have faith in the policymakers and in the lawmakers of this country? some do, some don t. okay, kyung. thanks very much for that. i guess it s a bit hard to have too much faith if you look at the track record. kyung lah, joining us live from tokyo. for the queen of england is on a historic visit to ireland. making a bid to heal old wounds, nina. security for the visit is actually costing ireland $2 million. all this is a big bill coming at a time when this country needs to pay its bills and help to do so. what happened to the keltic tiger? we ll investigate, just ahead.
years ago. home owners found themselves with houses worth half as much and the dream of the keltic tiger suddenly turned into a nightmare. there are 620 of these ghost estates across ireland, the scars of the property boom, visual reminders of everything that went wrong, easy credit, lax planning regulations and just nowhere near the demaned to meet the number of houses actually being built. on the next door estate, things are going better, for now. but tour this site and you find out just how the property market s working. three years after a period of unprecedented prosperity in ireland came to a crashing halt. the banks are still lending if you have a large enough deposit. so buyers like this woman who managed to get mortgages can snap up bargains. the original prices with 300,000. we got it for close to half price. reporter: it means developer
aftershocks, japan enters recession for a third time in a decade. as industrial output freefalls and consumers hold on to their cash. and the crumbling foundations of a failed property market. we ll look at the wreckage left behind by ireland s housing crisis. facing multiple charges of sexual assault in the united states, the managing director of the international monetary fund has resigned. dominique strauss-kahn tendered his resignation just a few hours ago in a letter to the imf. in it he writes i want to protect this institution which i served with honor and devotion and especially, especially, i want to devote all my strength, all my time and energy to provingmy innocence. in his statement strauss-kahn strenuously denies the allegations against him that alleged he sexually assaulted a maid last saturday at a new york hotel. he s still in a new york jail, his lawyers are going to court later on thursday to ask for bail. he s offering to post $1 million to stay in man