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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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Irish Fiscal Advisory Council (Seamus Coffey)

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Seamus Coffey

Irish Fiscal Advisory Council

The Irish Fiscal Advisory Council (IFAC) is an independent fiscal institution that was created in 2011 when Ireland was in an EU/IMF rescue programme, and it was put on a statutory footing with the passing of the Fiscal Responsibility Act in 2012. IFAC comprises a five-member council, and a secretariat with a staff of six. The annual budget is around €800,000.

The Council Members are appointed by the Minister for Finance, are drawn from academia, research institutions and public policy practitioners, both from Ireland and abroad, and can serve up to two consecutive four-year terms. The first chairperson of the Council was John McHale, Professor of Economics in the National University of Ireland Galway (NUIG).

Since IFAC’s creation, it has become a requirement under EU regulation for all EU countries to have an independent fiscal institution (IFI), and by the end of 2018 all EU member states bar Poland had established an IFI, many of which are similar in scope and scale to IFAC.

In the context of IFAC’s mandate, the word ‘advisory’ may be a bit of a misnomer. IFAC does not sit down with the Minister for Finance or officials in the Department of Finance to discuss the appropriate direction of fiscal policy. The formal mandate of IFAC is set out in the Fiscal Responsibility Act, 2012 (as amended), and is one that is more oversight than advisory. As of the...

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