Celtic Tiger Bruised

Once known as the “Celtic Tiger”, Ireland has been taking a hit of late.  The first Euro currency country to be hit by recession, it is now in a deflatory period.

Having fought its way out of hard times in the mid 1980s to the mid 1990s, growth was so strong there which led to its firm place on the world economy map.

Quality of life there was ranked as the highest in the world – things were good.

Now, the economy has shrunk to record levels, and the decline is at its worst since the 80s.  But should there be concern?  Some commentators in Ireland say that despite the current hardship, the people of Ireland are being money-wise, saving what they can and trying to stay within means.  So while things are definitely tough going at present, there is optimism within the Republic that things will improve – perhaps not within 2009, but within the years to come.

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Tags: deflation, Economy, Euro, Irish economy, Recession

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