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the pluck of the irish
Ireland Enters Nationwide Recovery

Ireland’s economic recovery is solidifying, and areas beyond Dublin are reaping the benefits. The FT reports on evidence that Ireland’s economy—currently the eurozone’s “fastest growing” —is working for non-Dubliners. People from across the eurozone are heading to Ireland to find a job, and foreign companies, including Apple, are flocking to the country (to Athenry, near Galway). The government believes the economy is doing so well that it is cutting taxes and raising spending, and experts are optimistic about the future:

[University of Limerick economist Dr Stephen Kinsella] also emphasises that the recovery is not just a statistical anomaly, but is being felt by households and consumers at ground level. “It’s a real, genuine, actual recovery on the ground. It’s very minor but you can feel it on the ground in things like reservations for dinner or road traffic volumes,” he says […]

“Ireland is well positioned to benefit from a number of external factors in the year ahead. While growth is expected to be lower than the 4.8% seen in 2014, it is likely to be more broad-based. QE should provide a welcome boost to Ireland’s all important export sector and sluggish consumption should start to pick up on the back of low oil prices and gradually improving labour market conditions,” says [economist Sarah] Maxwell.

It’s important to note that the Irish themselves aren’t always as enthusiastic about their new growth as international observers are. Some are worried the recovery is a bubble that could pop, and the country still has work to do to shore up its gains. But for now, at least, economic conditions in Ireland are significantly better than they have been since the global recession hit. The creativity and resilience of the Irish people continues to bolster their country’s future.

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  • Andrew Allison

    Shame on you, you mustn’t go around publicising the fact that Mr Micawber was right and living within your means (aka the much vilified austerity) actually works [grin].

    • Dan

      Don’t tell Paul Krugman, his head might ‘splode

  • Corlyss

    Two great peoples: the Irish and the Germans. They just can’t be kept down.

  • Kevin

    Ireland’s tentative recovery is certainly a rejoinder to the choices Greece has made. Spain’s economic troubles (massive bubble induce by real estate and construction leading to a banking crisis when it burst) resemble those of Ireland’s just a few years delayed. But will the Spaniards elect a government that will see them through their difficulties and rebuild a foundation for resumed growth or will they go the Greek route and elect a government of ‘Not Very Serious People’?

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