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Article
Why Ireland's luck ran out and what this means for the Eurozone
The International Spectator: Italian Journal of International Affairs
  • Shalendra SHARMA, University of San Francisco
Document Type
Journal article
Publication Date
3-1-2011
Publisher
Routledge
Abstract

Given its impressive economic performance over the past two decades, Ireland earned the title, the ‘Celtic Tiger’. However, as the contagion from the subprime-induced global financial crisis spread, Ireland's boom went bust. In short order, Ireland (like Greece before it), had to seek financial assistance from the EU and the IMF to stave off sovereign default and national humiliation. How did Dublin and the eurozone respond to the crisis and what lessons can be learned from Ireland's experience? While Ireland grapples with its huge public debt, the EU needs to instill confidence in the markets before the current rolling debt crisis becomes a systemic threat to the eurozone.

DOI
10.1080/03932729.2011.567906
Language
English
E-ISSN
17519721
Publisher Statement

Copyright © 2011 Istituto Affari Internazionali

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Accepted Author Manuscript
Citation Information
Sharma, S. D. (2011). Why Ireland's luck ran out and what this means for the Eurozone. The International Spectator: Italian Journal of International Affairs, 46(1), 115-126. doi: 10.1080/03932729.2011.567906