Document Type

Journal article

Source Publication

The International Spectator: Italian Journal of International Affairs

Publication Date

3-1-2011

Volume

46

Issue

1

First Page

115

Last Page

126

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

Print ISSN

03932729

E-ISSN

17519721

Publisher Statement

Copyright © 2011 Istituto Affari Internazionali

Access to external full text or publisher's version may require subscription.

Full-text Version

Accepted Author Manuscript

Recommended Citation

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