Two covers of the Economist newspaper, showing the speed and effect of the change. Two special reports on Ireland, the first in 1988, describing Ireland as the "Poorest of the rich", the second in 1997, less than a decade later, showing the "The Celtic Tiger: Europe's shining light"

Celtic Tiger (Irish: Tíogar Ceilteach) is a name for the period of rapid economic growth in the Republic of Ireland that began in the 1990s and slowed in 2001, only to pick up pace again in 2003 and then have slowed down once again by 2007. Irish (ga ''Gaeilge'' is a Goidelic language of the Indo-European language family originating in Ireland and historically spoken by the Irish. Economic growth is the increase in the amount of the goods and services produced by an economy over time Ireland ( Irish: Éire, ˈeːrʲə is a country in north-western Europe. During this time, Ireland experienced a boom in which it was transformed from one of Europe's poorer countries into one of its wealthiest. In Economics, the term boom and bust refers to the movement of an economy through Economic cycles. The causes of Ireland's growth are the subject of some debate, but credit has been primarily given to free market capitalism: low corporate taxation; decades of investment in domestic higher education; a low-cost labour market; a policy of restraint in government spending; and EU membership - which provided transfer payments and export access to the Single Market. Capitalism is the Economic system in which the Means of production are owned by private Persons and operated for Profit and where

The term "Celtic Tiger" has been used to refer to the country itself, and to the years associated with the boom. In Economics, the term boom and bust refers to the movement of an economy through Economic cycles. The first recorded use of the phrase is in a 1994 Morgan Stanley report by Kevin Gardiner. Morgan Stanley ( is a global Financial services provider headquartered in New York City New York United States ^[1] The phrase has often been wrongly associated with the Irish economist David McWilliams. David McWilliams (born 1966 is an Irish Economist. McWilliams has worked with the Central Bank of Ireland, UBS bank, and the Banque The "Celtic Tiger" is analogous to the "East Asian Tigers"—the tigers of South Korea, China, Singapore, Hong Kong, and Taiwan during their periods of rapid tiger growth in the 1980s and 1990s. The term Four Asian Tigers or East Asian Tigers refers to the Economies of South Korea, Hong Kong, Singapore South Korea, officially the Republic of Korea and often referred to as Korea ( Korean: 대한민국 tɛː China ( Wade-Giles ( Mandarin) Chung¹kuo² is a cultural region, an ancient Civilization, and depending on perspective a National Singapore Hong Kong ( officially the Hong Kong Special Administrative Region, is a territory located on China 's south coast on the Pearl River Delta, and borders Taiwan ( Taiwanese: Tâi-oân/Tāi-oân (historically 大灣/台員/大員/台圓/大圓/台窩灣 is an Island in East Asia. The Celtic Tiger period has also been called the "The Boom" or "Ireland's Economic Miracle". Variants of the phrase have been used to refer to continued economic growth in Ireland.

The aspiration to become a Celtic Tiger has also been expressed by leaders of the other Celtic countries. Celtic nations are areas of modern northwest Europe which identify themselves with the Celtic cultures specifically speakers of Celtic languages. Addressing the Council on Foreign Relations in New York in October 2007, Alex Salmond, the First Minister of Scotland, said "we have everything it takes for a Celtic Lion economy to take off in Scotland" (the lion rampant is the heraldic symbol of Scotland). The Council on Foreign Relations ( CFR) is an American Nonpartisan foreign policy membership organization founded in 1921 and based at 58 East 68th Street (at The City of New York Alexander Elliot Anderson "Alex" Salmond, (ˈsamənd is the First Minister of Scotland, heading a minority Scottish Government. The First Minister of Scotland (Prìomh Mhinistear na h-Alba First Meinister o Scotland is the head of the devolved Scottish Scotland ( Gaelic: Alba) is a Country in northwest Europethat occupies the northern third of the island of Great Britain. The economy of Scotland is closely linked with the rest of the United Kingdom and the wider European Economic Area, it is essentially a Mixed economy The Royal Standard of Scotland, also known as the Royal Standard of the King of Scots or more commonly the Lion Rampant was the flag used historically by the ^[2]

Celtic Tiger

The "Celtic Tiger" period began in the mid-1990s and lasted until the global economic downturn of 2001. From 1994 to 2000 GNP rate growth ranged between 6 and 11%, falling through 2001 and early 2002 to 2%, the level at which the economy had been growing in the early 1990s. The rate subsequently rose back to an average of about 5%. During this period Irish living standards rose dramatically to equal then eventually surpass that of all but one state in Western Europe. The standard of living refers to the quality and quantity of goods and services available to people and the way these goods and services are distributed within a population Western Europe at its most general meaning means 'all the countries in the West of Europe '

Causes

Comparison of corporate taxation in Ireland vs. other EU members. The European Union ( EU) is a political and economic union of twenty-seven member states, located primarily in

Tax

Many economists credit Ireland's growth to a low corporate taxation rate (10 to 12. Corporate tax refers to a Tax levied by various jurisdictions on the Profits made by companies or associations. 5 percent throughout the late 1990s), and to net transfer payments from members of the European Union like Germany and France that were as high as 4% of gross national product. In Political science and Economics, a transfer payment is a payment of money from a government to an individual for which no good or service is required in return The European Union ( EU) is a political and economic union of twenty-seven member states, located primarily in Germany is one of the world's most advanced market economies. This article addresses the current economic situation of France Between 1997 and 2004, Charlie McCreevy, the Minister for Finance, pursued fiscal policies such as low taxation^[3] and contributed to a dramatic reduction in public debt over the boom years. Charles "Charlie" McCreevy, ( Irish name: Cathal Mac Riabhaigh) born 30 September 1949 is an Irish politician The Minister for Finance (Aire Airgeadais is the title held by the Irish government minister responsible for all financial and monetary matters ^[4] He was voted Ireland's best Minister for Finance in 2004 by Finance magazine. ^[5]

EU Aid

The EU aid was used to increase investment in the education system and physical infrastructure. The Republic of Ireland 's education system is quite similar to that of most other western countries Infrastructure typically refers to the technical structures that support a society such as Roads Water supply, Wastewater, Power grids The increased productive capacity of the Irish economy is often attributed to these investments, which made Ireland more attractive to high-tech businessmen. ^[6] . The libertarian Cato Institute has suggested that the EU transfer payments were economically inefficient and may have actually slowed growth. The Cato Institute is a Libertarian Think tank headquartered in Washington D ^[7] The Heritage Foundation also downplayed the role of transfer payments. The Heritage Foundation is an American conservative Think tank. ^[6] Ireland's membership in the European Union since 1973 helped also the country gain access to Europe's large markets. Ireland's trade had previously been predominantly with the United Kingdom. The economy of the United Kingdom is the fifth largest in the world in terms of market Exchange rates and the sixth largest by Purchasing power parity ^[8]

Industrial Policies

In the 1990s, the provision of subsidies and investment capital by Irish state organisations (such as IDA Ireland) encouraged high-profile companies like Dell, Intel, and Microsoft to locate in Ireland. In Economics, a subsidy (also known as a subvention is a form of financial assistance paid to a business or economic sector IDA Ireland is the agency responsible for industrial development in Ireland. The multinational technology company Dell Inc develops manufactures sells and supports Personal computers and other computer-related products Microsoft Corporation is an American multinational Computer technology Corporation, which rose to dominate the Home computer These companies were attracted to Ireland because of its European Union membership, relatively low wages, government grants and low tax rates. A wage is a compensation workers receive in exchange for their labor. Grants are funds dispersed by one party (Grant Makers often a Government Department Corporation Foundation or Trust to a recipient, often (but not always Entreprise Ireland ^[9], a state agency, provides financial, technical and social support to start-up businesses. ^[10].

The building of the International Financial Services Centre in Dublin led to the creation of 14,000 high-value jobs in the accounting, legal and financial management sectors. The International Financial Services Centre ( IFSC) or An Lárionad Seirbhísí Airgeadais Idirnáisiúnta ( LSAI) in Irish is a major financial services

Geography and Demographics

A favourable time zone difference^[11] allows Irish employees to work the first part of each day while U. S. workers sleep. This was particularly attractive to companies with large legal and financial departments; an Irish lawyer could work on a lawsuit in the morning while their American counterpart slept. In law a lawsuit is a civil action brought before a Court in which the party commencing the action the Plaintiff, seeks a legal or equitable remedy U. S. firms were assured by the limited government intervention in business compared to other EU members, and particularly to countries in Eastern Europe. Growing stability in Northern Ireland brought about by the Good Friday Agreement further established Ireland's ability to provide a stable business environment. Northern Ireland (Tuaisceart Éireann Ulster Scots: Norlin Airlann) is a Country within the United Kingdom, lying in the northeast of The Agreement, most often referred to as the Belfast Agreement (Comhaontú Bhéal Feirste Belfast Greeance or the Good Friday Agreement (Comhaontú Aoine an ^[12][8]

Irish workers could effectively communicate with Americans—especially compared to other low-wage EU nations such as Portugal and Spain—a factor that was vital to U. Portugal, officially the Portuguese Republic (República Portuguesa is a country on the Iberian Peninsula. Spain () or the Kingdom of Spain (Reino de España is a country located mostly in southwestern Europe on the Iberian Peninsula. S. companies choosing Ireland for their headquarters. It has also been argued that the demographic dividend from the rising ratio of workers to dependents due to falling fertility, and increased female labour market participation, increased income per capita. The demographic dividend is a rise in the rate of economic growth due to a rising share of working age people in a population

Consequences

Public debt as a percentage of GDP dropped significantly over the 1990s.

Ireland was transformed from one of the poorest countries in Western Europe to one of the wealthiest. Disposable income soared to record levels, enabling a huge rise in consumer spending. Disposable income is Gross income minus Income tax on that income Unemployment fell from 18% in the late 1980s to 3. Unemployment occurs when a person is available to work and currently seeking work but the person is without work. 5% by the end of the boom, and average industrial wages grew at one of the highest rates in Europe. Inflation brushed 5% per annum towards the end of the 'Tiger' period, pushing Irish prices up to those of Nordic Europe. In economics inflation or price inflation is a rise in the general level of prices of goods and services over a period of time Public debt was dramatically reduced, enabling public spending to double without any significant increase in taxes. Government debt (also known as public debt or national debt) is Money (or credit) owed by any level of government either Central government

The new wealth resulted in large investments in modernising Irish infrastructure and cities. The National Development Plan lead to improvements in road infrastructure, and new transport services were developed, such as the Luas light rail lines, the Dublin Port Tunnel, and the extension of the Cork Suburban Rail. National Development Plan ( NDP, Plean Forbartha Náisiúnta is the title given by the Irish Government to a scheme of organised large-scale expenditure on (mainly Luas /ɫ̪uəsˠ/ ( Irish for 'speed' also promoted in the development stage as the Dublin Light Rail System, is a Light rail or Tram The Dublin Port Tunnel ( Tollán Calafoirt Bhaile Átha Cliath in Irish is a road traffic Tunnel in Dublin, Ireland, that forms part of the The Cork Suburban Rail (Irish Iarnród Fobhailteach Chorcaí) network serves the Metropolitan Cork area in County Cork, Munster, Ireland Local authorities enhanced city streets, and built monuments like the Spire of Dublin. The Spire of Dublin, officially titled the Monument of Light (An Túr Solais is a large stainless steel pin-like Monument in height located on the site of the

Ireland's trend of net emigration was reversed as the republic became a destination for immigrants. This significantly changed Irish demographics and resulted in expanding multiculturalism, particularly in the Dublin, Cork, Limerick and Galway areas. The term multiculturalism generally refers to a state of racial, cultural and ethnic diversity within the Demographics of a specified Dublin (ˈdʌblɨn/ /ˈdʊblɨn or /ˈdʊbəlɪn/, bˠalʲə aːha klʲiəh or cliə(ɸ is both the largest city and capital of Ireland. Cork (Corcaigh is the second largest city in the Republic of Ireland and the island of Ireland 's third most populous city after Dublin and Belfast Limerick (pronounced /ˈlɪmrɪk/ Luimneach in Irish) is a city and the county seat of County Limerick in the Province of Munster Galway (Gaillimh is the only city in the province of Connacht in Ireland. It was estimated in 2007 that 10% of Irish residents were foreign-born. Most of the new arrivals were citizens of Poland and the Baltic states, many of whom found work in the retail and service sectors. Within Ireland, many young people left the rural countryside to live and work in urban centres. The growing success of Ireland's economy encouraged entrepreneurship and risk-taking, qualities that had been dormant during poor economic periods. Entrepreneurship is the practice of starting new Organizations or revitalizing mature Organizations particularly new Businesses generally in response to identified

Many people in Ireland believe that growing consumerism during the boom years eroded the country's culture, with the adoption of American capitalist ideals. The culture of the people living on the island of Ireland is far from monolithic Capitalism is the Economic system in which the Means of production are owned by private Persons and operated for Profit and where While Ireland's historical economic ties to the United Kingdom had often been the subject of criticism, Peader Kirby argues that the new ties to the U. S. economy, however, were met with a "satisfied silence". ^[13] Nevertheless, voices on the left have decried the "closer to Boston than Berlin" philosophy of the government parties. Writers such as William Wall, Mike McCormick and Gerry Murphy have satirised these developments. William Wall (b 1955 is an Irish Novelist, Poet and Short story writer Gerry Murphy is an Irish Poet. Life & work Gerry Murphy was born in Cork City in 1952

Growing wealth was blamed for rising crime levels among youths, particularly alcohol-related violence resulting from increased spending power. However it was also accompanied by rapidly increased life expectancy and quality of life ratings.

Downturn, 2001–2003

The Celtic Tiger's momentum slowed sharply in 2002, after seven years of high growth. The Irish economic downturn was in line with the worldwide downturn.

The economy was impacted by a large reduction in investment in the worldwide information technology (IT) industry. Information technology ( IT) as defined by the Information Technology Association of America (ITAA is "the study design development implementation support The industry had over-expanded in the late 1990s, and its stock market equity declined sharply. Ireland was a major player in the IT industry: In 2002, it had exported US$10. 4 billion worth of computer services, compared to $6. 9 billion from the United States. Ireland accounted for approximately 50 percent of all mass-market packaged software sold in Europe in 2002 (OECD, 2002; OECD, 2004).

Foot and mouth disease and the September 11, 2001 attacks damaged Ireland's tourism and agricultural sectors, deterring U. Foot-and-mouth disease ( FMD) or hoof-and-mouth disease ( Aphtae epizooticae) is a highly contagious and sometimes fatal viral S. and British tourists. Several companies moved operations to Eastern Europe and the People's Republic of China because of a rise in Irish wage costs, insurance premiums, and a general reduction in Ireland's economic competitiveness. Eastern Europe is a general term that refers to the Geopolitical region encompassing the easternmost part of the European continent. China has the second-largest economy in the world with a GDP of over $ 6 The rising value of the Euro hit non-EMU exports, particularly those to the U. Please update other articles as well to avoid contradiction within Wikipedia e An economic and monetary union is a Single market with a common currency S. and the United Kingdom.

At the same time, economies globally experienced a slowdown. The economy of the United States grew only 0. 3% in April, May and June 2002 from a year earlier. The Federal Reserve made 11 rate cuts that year in an attempt to stimulate the U. S. economy. In Europe, the EU scarcely grew throughout the whole of 2002, and many governments (notably Germany and France) lost control of public finances, causing large deficits that broke the terms of the EMU Stability and Growth Pact. Public finance is a field of economics concerned with paying for collective or governmental activities and with the administration and design of those activities The Stability and Growth Pact (SGP is an agreement by European Union member states related to their conduct of Fiscal policy, to facilitate and maintain Economic

The economic downturn in Ireland was not a recession, but a slowdown in the rate of economic expansion. A recession is a contraction phase of the Business cycle. The U Signs of a recovery became evident in late 2003 as U. S. investment levels increased once again. Many senior economists have heavily criticised [1] the Government and the economic imbalance in favour of the construction industry and the prospect of sustaining economic growth in the future.

Post-2003 resurgence

The information technology recovery has helped the Irish economy to boom once again.

After the slowdown in 2001 and 2002, Irish economic growth began to accelerate again in late 2003 and 2004. Some of the media considered this an opportunity to document the return of the Celtic Tiger — occasionally referred to in the press as the "Celtic Tiger 2" and "Celtic Tiger Mark 2". ^[14] In 2004, Irish growth was the highest, at 4. 5%, of the EU-15 states, and a similar figure was forecast for 2005. These rates contrast with growth rates of 1% to 3% for many other European economies, including Germany, France, and Italy. The economy of Italy has changed dramatically since the end of World War II.

The reasons for the continuation of the Irish economic boom are somewhat controversial within Ireland. Skeptics say that recent growth is merely due to a great increase in property values, and to catch-up growth in employment in the construction sector. A variety of other factors have also been put forward.

Globally, the U. S. recovery has boosted Ireland's economy due to Ireland's close economic ties to the U. S. The decline in tourism as a result of foot and mouth disease and the September 11, 2001 attacks has reversed itself. Foot-and-mouth disease ( FMD) or hoof-and-mouth disease ( Aphtae epizooticae) is a highly contagious and sometimes fatal viral ^[15] The recovery of the global information technology industry is also a factor: Ireland produces 25% of all European PCs, and Dell, IBM, Apple and HP all have sizeable Irish operations, with Dell having its major European manufacturing plant in Limerick. A personal computer ( PC) is any Computer whose original sales price size and capabilities make it useful for individuals and which is intended to be operated The multinational technology company Dell Inc develops manufactures sells and supports Personal computers and other computer-related products International Business Machines Corporation abbreviated IBM and nicknamed "Big Blue", is a multinational Computer Technology Apple Inc, ( formerly Apple Computer Inc, is an American Multinational corporation with a focus on designing and manufacturing Consumer electronics The multinational technology company Dell Inc develops manufactures sells and supports Personal computers and other computer-related products Limerick (pronounced /ˈlɪmrɪk/ Luimneach in Irish) is a city and the county seat of County Limerick in the Province of Munster

There has been a renewed investment by multi-national firms. Intel has resumed Irish expansion, Google has a major office in Dublin,^[16] Abbott Laboratories is building a new Irish facility^[17] and Bell Labs will open a facility in the near future. Google Inc is an American public corporation, earning revenue from advertising related to its Internet search, e-mail, online Dublin (ˈdʌblɨn/ /ˈdʊblɨn or /ˈdʊbəlɪn/, bˠalʲə aːha klʲiəh or cliə(ɸ is both the largest city and capital of Ireland. Abbott Laboratories ( is a diversified pharmaceuticals Health care company Bell Laboratories (also known as Bell Labs and formerly known as AT&T Bell Laboratories and Bell Telephone Laboratories) is the Research organization ^[18]

Domestically, a new state body, Science Foundation Ireland, has been established to promote new science companies in Ireland. Science Foundation Ireland (SFI, or Fondúireacht Eolaíochta Éireann (FEÉ in Irish, is the Irish statutory body with responsibility for A drive has been underway to attract high-skill jobs to Ireland; the location of Google and Bell Labs in Ireland are the cornerstone of this new drive. Google Inc is an American public corporation, earning revenue from advertising related to its Internet search, e-mail, online Bell Laboratories (also known as Bell Labs and formerly known as AT&T Bell Laboratories and Bell Telephone Laboratories) is the Research organization ^[19] Maturing funds from the SSIA government savings scheme relaxed consumers' concerns about spending and thus fuelled retail sales growth. ^[20]

Challenges

The Spire of Dublin symbolises the modernisation and growing prosperity of Ireland. The Spire of Dublin, officially titled the Monument of Light (An Túr Solais is a large stainless steel pin-like Monument in height located on the site of the

Property market

The return of the boom in 2004 is claimed to be primarily the result of the large construction sector catching up with the demand caused by the first boom. The construction sector represents nearly 12% of GDP and a large proportion of employment among young, unskilled men. A number of sources, including The Economist,^[21] have warned of excessive Irish property values. The Economist is an English-language weekly news and International affairs publication owned by The Economist Newspaper Ltd and edited in London 2004 saw the construction of 80,000 new homes, compared to the United Kingdom's 160,000 – a nation that has 15 times Ireland's population. Rent yields are falling nationwide on residential property and output has now outpaced demand. Despite this, as of January 2007, it is estimated that home completions in 2006 may have reached 90,000.

Loss of competitiveness

Rising wages, inflation, poor infrastructure, excessive public spending, and the accession of ten new European Union members in 2004 and Romania and Bulgaria in 2007 are threats to the continued competitiveness and sustained growth of the Irish economy. Irish wages are now substantially above the EU average, particularly in the Dublin region. These pressures primarily affect unskilled, semi-skilled, and manufacturing jobs. Outsourcing of professional jobs is also increasing. Poland recently gained several hundred former Irish jobs from the accountancy division of Philips. Poland (Polska officially the Republic of Poland Koninklijke Philips Electronics NV ( Royal Philips Electronics Inc.

Despite this, there was a surge in Foreign Direct Investment in 2006 and substantial net increase in IDA supported jobs.

The government has set up Science Foundation Ireland^[22] to promote education in highly-skilled careers, and to invest in science initiatives that will further Ireland's knowledge economy. Science Foundation Ireland (SFI, or Fondúireacht Eolaíochta Éireann (FEÉ in Irish, is the Irish statutory body with responsibility for The knowledge economy is a term that refers either to an economy of knowledge focused on the production and management of knowledge in the frame of economic constraints

Promotion of indigenous industry

One of the major challenges facing Ireland is the successful promotion of indigenous industry. Although Ireland boasts a few large international companies, such as AIB, CRH, Kerry Group, Smurfit Kappa Elán and Ryanair, there are few companies with over one billion euros in annual revenue. Allied Irish Banks plc ( AIB; Irish: Bainc-Aontas Éireann;,,,) is a major Commercial bank based in Ireland not to be mistaken Kerry Group, is a major quoted food company headquartered in the Republic of Ireland. Ryanair (,) is an Irish Airline with headquarters in Dublin and its biggest operational base at London Stansted Airport in the UK Please update other articles as well to avoid contradiction within Wikipedia e The government has charged Enterprise Ireland^[23] with the task of boosting Ireland's indigenous industry. The government launched a Web site^[24] in 2003 with the objective of streamlining and marketing the process of starting a business in Ireland.

However, companies such as IAWS, Grafton, Riverdeep and Tullow Oil have risen to prominence as investors have bought into Irish equities in the general upswing in the stock exchange over the past 5 years. IAWS Group plc was an international food and agribusiness group Riverdeep Interactive Learning originally started as a publishing house for educational online and CD-ROM products based in San Francisco and Dublin Ireland Tullow Oil plc ( is a British -based oil and gas exploration and production business headquartered in London.

Reliance on foreign energy sources

Another economic concern is Ireland's reliance on foreign oil. ^[25] Ireland for many years curbed dependence on foreign energy sources by developing its peat bogs, building a dam on the River Shannon, and developing offshore gas fields. Peat is an accumulation of partially Decayed Vegetation matter. The River Shannon ( Sionainn or Sionna in Irish) is at 386 km (240 miles the longest river in Ireland. An oil platform or oil rig is a large structure used to house workers and machinery needed to drill and/or extract oil and Natural gas through wells Gas, peat and hydroelectric power have been almost fully exploited in Ireland. Hydroelectricity is electricity generated by Hydropower, ie the production of power through use of the gravitational force of falling water This situation has led to an increasing need for oil at a time of increasing concerns about security of supply and global warming. Global warming is the increase in the average measured temperature of the One solution is to develop significant potential energy sources like wind power and, to a lesser extent, wave power. Wind Power is the conversion of wind energy into a useful form such as electricity using Wind turbines At the end of 2007 worldwide capacity of wind-powered generators was Wave power refers to the Energy of Ocean surface waves and the capture of that energy to do useful work — including Electricity generation, The world's largest offshore wind farm is currently in construction off the east coast of the island near Arklow, and many remote locations in the west show potential for wind farm development. A wind farm is a group of Wind turbines in the same location used for production of electric power Arklow ( is a historic town located in County Wicklow on the east coast of Ireland. A report by Sustainable Energy Ireland indicated that if wind power were properly developed, Ireland could one day be exporting excess wind power. Wind power currently supplies 5% of Ireland's electricity.

Wealth redistribution

Ireland's new wealth is not evenly distributed. The United Nations reported in 2004 that Ireland was second only to the United States in inequality among Western nations. ^[14] . The government has established a National Development Plan^[26] to invest in infrastructure throughout the country, and has formulated the National Spatial Strategy^[27] to focus on the development of 'gateways' and 'hubs'— towns such as Mullingar, Athlone, and Ennis have been so-designated. National Development Plan ( NDP, Plean Forbartha Náisiúnta is the title given by the Irish Government to a scheme of organised large-scale expenditure on (mainly Mullingar ( An Muileann gCearr in Irish, meaning "the left-handed or wry mill" is the administrative centre of County Westmeath, Ireland Athlone ( is a town that lies on the River Shannon near the southern extremity of Lough Ree, Ireland. Ennis ( is the County town of Clare in Ireland. Situated on the River Fergus, it lies north of Limerick and south of Galway

However inequality persists. Many communities are still crime-ridden and in relative poverty. The government has enlisted Ballymun Regeneration Ltd. ^[28] to regenerate the Ballymun area and move people into new homes. They began knocking down the Ballymun Flats in 2004. The Ballymun Flats Tower block complex in Ballymun, Dublin is scheduled for excavation

There is some opposition to the theory that Ireland's wealth has been unusually unevenly distributed, among them economist and journalist David McWilliams. David McWilliams (born 1966 is an Irish Economist. McWilliams has worked with the Central Bank of Ireland, UBS bank, and the Banque He cites Eurostat figures which indicate that Ireland is just above average in terms equality by one type of measurement^[29]. The Statistical Office of the European Communities ( Eurostat) is the Statistical arm of the European Commission, producing data for the European Union However while it is better off by this measurement than generally less developed and/or more free market countries like Britain, the Mediterranean and the new accession states; Ireland is still more unequal than the Scandinavan countries, Germany and France.

Moreover, Ireland's inequality persists by other measurements. according to an ESRI report published in December 2006 is the 22nd best out of the 26 richest countries in terms of the level of its child poverty; and the 2nd most unequal country in Europe. ^[30].

See also

• Baltic Tiger
• Boom and bust
• Four Asian Tigers
• Economy of Ireland
• European Union
• Greek Economic Miracle
• IDA Ireland
• Irish property bubble
• Irish Stock Exchange
• Social Partnership
• Tatra Tiger

Notes

References