The Celtic Tiger

The Celtic Tiger

"Ireland, the country which for 150 years had only one export: its own people;"

"It's a high-tech world that is making the legendary green countryside even greener - with cash and with the envy of others."

The expression "Celtic Tiger"

colloquial term, describing Ireland itself during the economical boom

refering to the 4 east Asien Tiger <- similar economical "explosion"

"Millions left because it was the only way to survive. The economy never recovered so people just kept on leaving."

Celtic -> Irish | Tiger -> economical boom

Impact on the Economy

The Great Famine

The Celtic Tiger II

Political Changes

-After:

• the bursting of the Dotcom-bubble (2000),
• the resulting negativ economic growth.

-Attempt to recover economy & stocks,

by opening doors to workers from new EU member nations.

Government:

• Cut spendings and reduced taxes,

• Pursued free trade,

• Encouraged foreign investments,

• Continued investing in education.

• Steadily increasing GDP,

• Skyrocketing income,

• Declining unemployment rate,

• Decreasing GDP/debt rate while total national debts remained constant,

• Modernized infrastructure,

• Reversed emigration.

• The recovery of the US. economy,
• The resurgence of the IT-Industry,
• The increases in house prices &
• The growing tourism...

...led to a temporal recovery of the Irish economy.

The situation today...

"After five years of grinding austerity and an international bailout, the Celtic Tiger is starting to find its feet."

The celtic tiger seems to be purring again, but at what price?

Young, well educated generation, isn't willing to do the "dirty-jobs", Ireland is seeking for.

-> Government is cutting social welfare payments;

2008 - today

-> Educated youth goes abroad to work,

1950s - 1980s

1990 - 2000

early 2000s

19th century

<-> emigration problem...again

Causes for the Celtic Tiger

Economic chances

Economic Problems

Death of the Celtic Tiger

Affects on the habitants

• Huge rise in consumer spending

• Thousands of new buildings -> "exploding" cities

• Great companies settled in Ireland, e.g. :

• Education sector was expanded,

• Member of European Economic Community.

• Investment in education and infrastructure (ESF),

• Subsidies, economic openness,

• Low corporate tax,

• English speaking work-force,

• Membership in European Union.

In September 2008, Ireland officially entered recession

• Global economic downturn,

• Bursting of the property bubble,

• Collapse in consumer spending,

• Monetary policy by ECB,

• Smaller bankning scandals ("Wild West of european finance"),

• Badly distributed wealth.

• Budget deficit after Anglo-Irish war,

• Economy based on protectionism,

• Inflation due to the oil crises ,

• Poor economic management by the government.

• in Limerick, Dell,

• in Leixlip, Intel,

• in Dublin, GoogleEU,

• in Cork City, AppleEU, Pfizer Inc. & Novartis.

Sources

• http://4.bp.blogspot.com/-LZSeWMBW-68/Ta-BggFsPoI/AAAAAAAAAZs/Z6Q8nHspeAs/s1600/Evolution%2Birish%2BEconomy%2BBlog.jpg

• http://en.wikipedia.org/wiki/Great_Famine_%28Ireland%29

• http://en.wikipedia.org/wiki/Economic_history_of_the_Republic_of_Ireland

• https://www.esri.ie/news_events/press_releases_archive/2007/best_of_times_the_social_/

• http://www.heritage.org/research/reports/2006/06/how-ireland-became-the-celtic-tiger

• https://prezi.com/dx3x2ulf3mwk/the-celtic-tiger/

• http://www.statista.com/statistics/268830/unemployment-rate-in-eu-countries/

• http://en.wikipedia.org/wiki/Tax_rates_of_Europe

• http://www.heritage.org/research/reports/2006/06/how-ireland-became-the-celtic-tiger

• http://www.askaboutireland.ie/learning-zone/primary-students/5th-+-6th-class/history/history-the-full-story/ireland-in-modern-times/joining-the-eu/

• http://www.mtholyoke.edu/~falve22h/classweb/recession/recession/Celtic_Tiger.html

• http://en.wikipedia.org/wiki/IDA_Ireland

• http://www.investopedia.com/terms/c/celtictiger.asp

• https(local)://www.youtube.com/watch?v=UYnk5ZMTadc