Opportunities for Irish law graduate

I am an Irish law graduate but am considering qualifying in England and Wales – however I am just wondering would you consider this an option in this recent economic climate?

I know that I would have to complete the Common Professional Examination course and a two-year training contract after that in order to qualify. Do I also need to have successfully completed all eight FE1 exams in Ireland before I am to apply for this course? I have two years experience working with an Irish law firm.