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Recalling the Celtic Tiger

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Edited By Eamon Maher, Eugene O'Brien and Brian Lucey

This book looks at various effects, symptoms and consequences of the period in Irish culture known as the Celtic Tiger. It will trace the critical pathway from boom to bust – and up to the current beginnings of a similar, smaller boom – through events, personalities and products. The short entries offer a sense of the lived experience of this seismic period in contemporary Irish society.

While clearly not all aspects of the period could realistically be covered, the book does contain essential information about the central actors, events, themes, and economic trends, which are discussed in a readable and accessible manner. Each entry is linked to the overall Celtic Tiger phenomenon and its immediate aftermath.

The book also provides a comprehensive account of what happened in this period and will be a factual resource for anyone anxious to discover information on the areas most commonly connected to it. All entries are written by experts in the area. The contributors include broadcasters, economists, cultural theorists, sociologists, literary critics, journalists, politicians and writers, each of whom brings particular insights to some aspect of the Celtic Tiger.

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Euro: Cause and Consequences (Stephen Kinsella)

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Stephen Kinsella

Euro: Cause and Consequences

The Celtic Tiger proper lasted, roughly, from 1996 to 2002. The Euro was introduced towards the end of this period, and many argue that it created the conditions for the asset boom and bust which followed the Celtic Tiger, booming from 2003 to 2007, and then busting from 2008 to 2013.

The Euro was created to increase the degree of economic integration between member area countries of the EU. It followed the wave of increased economic integration the European Union had taken from the 1950s onward. The monetary union envisaged by the introduction of the Euro was not accompanied by the fiscal union required to recycle capital flows and to bailout systems more or less automatically.

The Irish decision to join the Euro was as much a political one as an economic one. Authors Patrick Honohan and Gavin Murphy have noted the tradeoff, ‘While financial issues were to the fore in the discussions, the final decision to join was based on a strategic vision that Ireland’s economic and political future lay with Europe, rather than the former colonial power’.

As of 2019, the common currency is shared by 19 of the EU 28 member states, and is used by well over 340 million people. The Euro, introduced in 2002, encouraged cross-border trade but did not reduce the dispersion of prices for products between states. Prices had in fact converged during the 1990s following the...

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