The Making of the Celtic Tiger

The Republic of Ireland is Europe's star-performing economy, "Europe's Shining Light" in the words of "The Economist" magazine. Yet in 1990, Ireland was "In Hock, Out of Work" according to the same magazine. There was talk of the International Monetary Fund stepping in to exact the economic stringency that Ireland's politicians seemed unable to impose. How did the Republic of Ireland become an overnight success and transform itself from Europe's economic basket-case into the Celtic Tiger within a decade? The Irish are bemused by the change in their country's fortunes; outsiders flock to fashionable Dublin to see for themselves. In this book, two individuals who were at the heart of the dramatic changes, tell the inside story of Ireland's economic miracle. How in 1987 a minority government changed the political rule book by making dramatic cutbacks in spending, winning the approval of the public, the markets and the business. The book also goes on to look at the pitfalls awaiting the Celtic Tiger. The authors contend that the Celtic Tiger is more robust than the Asian species but pinpoint some of the hazards of success.