Growth of the Celtic Tiger is unlikely to remerge in the coming years
The growth of the Celtic Tiger period is unlikely to remerge in the coming years.
Table of Contents
Executive Summary………………………………………………………..…3
Irelands National Debt Crisis………………………………………………...4
The sustainability of an Economy driven by Multinational Corporations....6
Eastern European Nations Competition with Ireland……………………….7
Possibilities of Economic Growth……………………………………………..8
Growth in Islamic Finance…………………………………………………….9
Renewable Energy, a refuel to the Irish Economy...........................................9
Eurozone investment in Irish economy………………………………………..10
Conclusion……………………………………………………………………..10
Works Cited……………………………………………………………………..11
Executive Summary
The “Celtic Tiger” is a term that refers to the remarkable growth of the Irish economy during the periods from the 1994 up to 2007. Ireland used to be a poor country shadowed by civil wars and political strife for the majority of the 20th century. Strong government support and laws have since then transformed Ireland into an economic powerhouse, thanks to its high educational standards, stability, fiscal policies and introduction into the Eurozone.
High general education, young workforce, strong Fiscal Policies and strong connection with Europe have propelled the growth and development of the Irish economy; primarily in its Information and Communications Technology (ICT), and the Pharmaceutical Industry.
Since 2008 and the global financial crisis, the Irish economy has taken one of the worst hits in the European economy. Low corporate tax rate, low European central bank (ECB) interest rates and several other factors have led to an expansion of credit debt and led to a property bubble which led to the bankruptcy of numerous Irish Banks, and in September of 2008, The Irish government
Table of Contents
Executive Summary………………………………………………………..…3
Irelands National Debt Crisis………………………………………………...4
The sustainability of an Economy driven by Multinational Corporations....6
Eastern European Nations Competition with Ireland……………………….7
Possibilities of Economic Growth……………………………………………..8
Growth in Islamic Finance…………………………………………………….9
Renewable Energy, a refuel to the Irish Economy...........................................9
Eurozone investment in Irish economy………………………………………..10
Conclusion……………………………………………………………………..10
Works Cited……………………………………………………………………..11
Executive Summary
The “Celtic Tiger” is a term that refers to the remarkable growth of the Irish economy during the periods from the 1994 up to 2007. Ireland used to be a poor country shadowed by civil wars and political strife for the majority of the 20th century. Strong government support and laws have since then transformed Ireland into an economic powerhouse, thanks to its high educational standards, stability, fiscal policies and introduction into the Eurozone.
High general education, young workforce, strong Fiscal Policies and strong connection with Europe have propelled the growth and development of the Irish economy; primarily in its Information and Communications Technology (ICT), and the Pharmaceutical Industry.
Since 2008 and the global financial crisis, the Irish economy has taken one of the worst hits in the European economy. Low corporate tax rate, low European central bank (ECB) interest rates and several other factors have led to an expansion of credit debt and led to a property bubble which led to the bankruptcy of numerous Irish Banks, and in September of 2008, The Irish government
Cited: Davies, Ron. "You Can Pry Our 12.5% Rate from Our Cold, Dead Fingers."Irisheconomy.ie. N.p., 15 Nov. 2010. Web. 8 Oct. 2012. . Davies, Ron. "You Can Pry Our 12.5% Rate from Our Cold, Dead Fingers."Irisheconomy.ie. N.p., 15 Nov. 2010. Web. 8 Oct. 2012. . McWilliams, David. "The Numbers the Continue to Dam Us." Davidmcwilliams.ie. N.p., 1 Oct. 2012. Web. 8 Oct. 2012. . “Unleashing the Celtic Tiger.” International Securities Finance. London: Jun 1, 2004. p.1. “Will the Celtic tiger keep roaring?” International Money Marketing. London: May 12, 2003 Communications Of The ACM. New York: Mar. 1997. Vol. 40, Iss. 3, p. 11-16. Chater, Robin. "Will the Irish Economy Really Recover next Year? The Federation of European Employers (FedEE) Writes ....." Yahoo! News. Yahoo!, 27 Mar. 2012. Web. 09 Oct. 2012. . McCourt, David Bohan, Christine. "Ireland Is Becoming a Hub for Islamic Finance – but What Exactly Is It?"TheJournal.ie. N.p., 12 May 2012. Web. 09 Oct. 2012. . Byrne, Ciara. "VentureBeat | News About Tech, Money and Innovation." VentureBeat. N.p., 30 Nov. 2010. Web. 09 Oct. 2012. . McWilliams, David. "David McWilliams » Prepare for Titanic Struggle as Draghi Turns Euro into Lira." David McWilliams » Prepare for Titanic Struggle as Draghi Turns Euro into Lira. N.p., 27 Sept. 2012. Web. 09 Oct. 2012. .