I'm going to take this with a grain of salt ... given the EU's hatred of Ireland's efforts to be competitive and lower taxes, this may or may not be a smear job.
It is somewhat a badge of honor to be held in contempt by the Continentals.
"The report claimed, too, that despite years of ``unprecedented wealth`` in Ireland, resources had been squandered with many public services, especially health, in a worse state than ever."
To socialists, wealth not spent on public services is, by definition, "squandered".