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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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Neary, Patrick (Darragh Flannery)

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Darragh Flannery

Neary, Patrick

Patrick Neary was the prudential director (2003–6) and CEO (2006–9) of the Irish Financial Services Regulatory Authority (IFSRA) within the Irish Central Bank. The IFSRA was responsible for micro prudential supervision of individual banks in Ireland, and as well as other financial service providers. His role, as the head of the financial regulatory authority, in the lead up to the banking crisis in Ireland in 2008, has been the subject of much debate and featured in numerous reports, inquiries and court cases that have examined the crisis.

Neary resigned from his position in January 2009, at the time facing criticism for the ‘hidden loans’ scandal within Anglo Irish Bank. Anglo was nationalised (at an eventual cost to the taxpayer of over €30 billion) in December 2008. At the same time, ‘the hidden loans’ scandal arose after it was discovered that Sean Fitzpatrick, then CEO of Anglo, had been transferring loans of up to €87 million off the bank’s book to conceal them from shareholders. It was claimed that staff at the regulator’s office first learned of this practice in January 2008, but did not inform the Department of Finance or take any action of its own. The Report of the Committee of the Authority examining the internal communication of matters relating to loans to directors of Anglo Irish Bank Corporation, found there had been a communications break down in the organisation, which resulted in a lack of action...

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