You know a country is in trouble when.....

....its ministry of finance produces a statement like this....

An Exchequer deficit of €3,721 million was recorded in the first quarter of 2009 compared to a deficit of €354 million in the same period last year. Tax revenue was down year-on-year by €2.6 billion or 23%. Total net voted expenditure was just over €680 million or 6% above expenditure levels for the same period of last year.

A ten-fold increase in the fiscal deficit; tax revenues are down almost a quarter; while expenditures are up 6 percent.

The country? Ireland.