Economic Woes Wipe U2 From Dublin's Skyline

Proposed skyscraper housing a new recording studio for the hometown band put on hold due to the economic downturn

Count U2 among the list of global economic casualties.

The Dublin Docklands Development Authority in the band's native Ireland has suspended construction on the U2 Tower, a $250 million skyscraper boasting an egg-shaped recording studio at its peak.

"The objective is to see this landmark project completed," the DDDA said in a statement Friday. "However, given the current unfavorable economic environment, more time is needed at this juncture."

Somehow we feel that, despite the inevitable civic disappointment, people in recession-ravaged Ireland will understand.

The proposed tower, an ecofriendly structure designed by British architect Norman Foster, was to measure nearly 400 feet, making it Dublin's tallest building, and include million-dollar luxury apartments, a viewing platform for the public, solar paneling, wind turbines and a tunnel to allow riverside traffic to drive through the base of the building.