How Ireland got screwed

[Cliphead]

First Iceland. Then Greece. Now Ireland, which headed for bankruptcy with its own mysterious logic. In 2000, suddenly among the richest people in Europe, the Irish decided to buy their country—from one another. After which their banks and government really screwed them. So where’s the rage?

A long article but an interesting read;

When Irish Eyes Are Crying | Business | Vanity Fair

[stek]

First Iceland. Then Greece. Now Ireland, which headed for bankruptcy with its own mysterious logic. In 2000, suddenly among the richest people in Europe, the Irish decided to buy their country—from one another. After which their banks and government really screwed them. So where’s the rage?

A long article but an interesting read;

When Irish Eyes Are Crying | Business | Vanity Fair

I've seen Angela's Ashes...

[Cliphead]

I've seen Angela's Ashes...

At least that story offered redemption and hope.

[RichardCranium]

I've seen Angela's Ashes...

That film's really done your head in, hasn't it?

May I suggest you go to the Radio 7 Listen Again bit on the BBC web site and listen to this week's episodes of A Short History of Ireland. Link: BBC - BBC Radio 7 Programmes - A Short History of Ireland

The description of the effects of the potato famine will make you forget all about Frank McCourt's whingeing.

[stek]

That film's really done your head in, hasn't it?

May I suggest you go the Radio 7 Listen Again on the BBC web site and listen to this week's episodes of A Short History of Ireland. Link: BBC - BBC Radio 7 Programmes - A Short History of Ireland

The description of the effects of the potato famine will make you forget all about Frank McCourt's whingeing.

Well, as Alan Partridge said about the so-called potato famine;

'You will pay the price if you are a fussy eater'

and;

'If can afford to emigrate you can afford to eat at a modest restaurant"

Can't argue with that, can you really?

It's all about a bit of schadenfreude, I'm going to watch it again!

[AtW]

In 2000 or just before it Ireland had actually ok business model - low corp taxes to attract direct foreign investment that created jobs, however after 2000 outsourcing started causing jobs being moved offshore, and even if firms technically stayed they did not pay much tax - add house pricing bubble after that the the story is complete.

[norrahe]

In 2000 or just before it Ireland had actually ok business model - low corp taxes to attract direct foreign investment that created jobs, however after 2000 outsourcing started causing jobs being moved offshore, and even if firms technically stayed they did not pay much tax - add house pricing bubble after that the the story is complete.

It was always a case of the country being sucked up into its own "Celtic tiger" dream, bad financing, bad government and people believing the hype and forgetting the facts.

When said companies that were availing of very beneficial business taxes start upping sticks to eastern Europe, you know you're numbers up....................

[AtW]

Very good article - very long (still reading) but very good.

[DaveB]

I thought it was carelessness and a lack of discipline allowing France to stay in the game through penalties.

[alreadypacked]

Well, as Alan Partridge said about the so-called potato famine;

'You will pay the price if you are a fussy eater'

and;

'If can afford to emigrate you can afford to eat at a modest restaurant"

Can't argue with that, can you really?

It's all about a bit of schadenfreude, I'm going to watch it again!

I think you will find that the Irish did not pay for their tickets to emigrate. The English landlords were obliged to pay for their tenants who went to the Poor house, as they had no food, an on-going expense. The solution was to bulk buy as cheap as possible tickets for them to emigrate, ending their obligation. The cheap tickets meant that the ships captain did not have enough food or water for the trip, they became known as the coffin ships.