The death of the Celtic tiger is not an extinction event to trouble naturalists. There was, in fact nothing natural about this tiger, if it ever really existed. The"Irish Economic miracle" was built on good old-fashioned subsidies (from the European Union) and the simple fact that until the 1980s Ireland was by the standards of the developed world so economically backward that the only way was up. And as it began to catch up to European and American averages, the Irish economy could boast some seemingly remarkable statistics. These lured in investors, the Irish deregulated and all but abandoned financial oversight, and a great Irish financial ceilidh began. It would last for a decade. When the global financial crash of 2008 arrived it struck Ireland harder than anywhere-even Iceland looked like a model of rectitude compared to the fiasco that stretched from Cork to Dublin. There was an avalanche of statistics as toxic as the property-based assets that lay beneath many of them: type="disc" The International Monetary Fund was predicting that Ireland's Gross Domestic Product (GDP) would shrink by 13.5 per cent in 2009 and 2010-the worst performance among all the advanced economies and one of the worst ever recorded in peacetime in the developed world. type="disc" Government debt almost doubled in a year. type="disc" In May 2008, &euro13.5 million was paid for a 450-acre farm in Warrenstown, County Meath-one of the highest prices ever paid for agricultural land anywhere in the world. By 2009 the level of debt among Irish households and companies was the highest in the European Union. type="disc" The country's gross indebtedness was larger than Japan's, which has thirty times the population. type="disc" Between 1994 and 2006, the average second-hand house price in Dublin increased from &euro82,772 to &euro512,461-a rise of 519 per cent. By 2009 Irish house prices had fallen more rapidly than any others in Europe. type="disc" With a fifth of its office spaces empty, Dublin had the highest vacancy rate of any European capital and was rated as having the worst development and investment potential of twenty-seven European cities. type="disc" The Irish stock exchange fell by 68 per cent in 2008 type="disc" The average Irish family had lost almost half its financial assets type="disc" Unemployment rose faster than in any other Western European country, increasing by 85 per cent in a year. type="disc" Ireland's bad bank, the National Assets Management Agency (Nama), which had to take over &euro90 billion in loans to developers from banks that would otherwise be insolvent holds more assets [sic] than any publicly quoted property company in the world, dwarfing giants such as GE Capital Real Estate and Morgan Stanley Real Estate, which own assets of &euro60 billion and &euro48 billion respectively.And under all this rubble lay the corpse of the Celtic Tiger. How Ireland managed to achieve such a spectacular implosion is a stunning story of corruption, carelessness and venality, told with passion and fury by one of Ireland's most respected journalists and commentators.
- Publisher Name:PublicAffairs,U.S.
- Product Format:Hardback
- ISBN: 9781586488819
- Author:O, Toole Fintan
- Publication Date:2010-03-02
If you are not satisfied with your order in any way, get in touch. We have an excellent customer service record and we will do our best to ensure you are pleased with your purchase.
We are happy to refund a product if it is defective, within 30 days of purchase upon the return of your product. If you return a product to us and request a refund due to an error on our part we will be happy to pay for the postage cost to return it to us.
To be eligible for a return, your item must be in the same condition that you received it, unworn or unused & unread, and in its original packaging. You’ll also need the receipt or proof of purchase.
Please note, if you are requesting a refund based on an issue with condition we kindly ask you to provide a photo in order for us to best advise a suitable resolution.
To start a return, you can contact us at shop@chaptersbookstore.com. If your return is accepted, we’ll send you a return shipping label, as well as instructions on how and where to send your package. Items sent back to us without first requesting a return will not be accepted.
You can always contact us for any return question at shop@chaptersbookstore.com.
Damages and issues
Please inspect your order upon reception and contact us immediately if the item is defective, damaged or if you receive the wrong item, so that we can evaluate the issue and make it right.
Exceptions / non-returnable items
Certain types of items cannot be returned, like custom products or special orders. Unfortunately, we cannot accept returns on sale items or gift cards.
Exchanges
The fastest way to ensure you get what you want is to return the item you have, and once the return is accepted, make a separate purchase for the new item.
Refunds
We will notify you once we’ve received and inspected your return, and let you know if the refund was approved or not. If approved, you’ll be automatically refunded on your original payment method. Please remember it can take some time for your bank or credit card company to process and post the refund too.
Free Delivery in the Republic Of Ireland on all orders over €30. Standard Delivery Charge in Republic of Ireland of €5 for all orders below €30.
Delivery is subject to warehouse availability. Out-of-stock items will be shipped as soon as possible, upon arrival from the manufacturer/publisher. Please take shipping time into consideration.
