Ireland and the economy
Ireland’s economic fortunes over the past decade or so have seldom been far from international headlines.
The so-called celtic tiger years of unprecedented growth were followed by a spectacular economic collapse that led to the Irish Government requesting financial assistance from the European Commission , the European Central Bank and the IMF, collectively called the troika.
In simple terms, Ireland went from being held up as a shining example of how a small, open economy could become successful in the modern, global marketplace to being a country on the brink of financial collapse.
Ireland is now beginning to recover and measures are being put in place to encourage growth and protect our economy for the future.
A modest pick-up in economic growth is expected in 2014 and the labour market is continuing to show welcome signs of improvement, with the IMF predicting unemployment to fall to 10.5% in 2015 from a high of 14.7% in 2012.
However, Ireland needs to act in solidarity with other Eurozone Members to continue down the road to recovery and steps are being taken to ensure our economy is better protected in the future.
However, Ireland needs to act in solidarity with other Eurozone Members, Just as membership of the European Union facilitated our move from an agricultural based economy to a modern one driven by hi-tech industry and global exports, it’s now providing a route back to financial stability.