Ship of Fools

Ship of Fools

How Stupidity and Corruption Sank the Celtic Tiger

Book - 2010 | 1st ed
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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
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: New York : PublicAffairs, c2010
Edition: 1st ed
ISBN: 9781586488819
Branch Call Number: 330.9415 OTO 2010
Characteristics: viii, 230 p

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c
capitalcity
Jul 18, 2013

Why and how did the Celtic tiger become roadkill? Look no further than the guest list to the money banquet laid on by the Irish banksters:
everyone in Ireland ... real estate speculators, politicians, subsistence farmers ... However, voracious indulgence leads to over exuberance and lethargy. You don't see it coming ... splat! Fintan O'toole provides chapter and verse.

j
JIS1946
Nov 14, 2010

If one wants to know what is behind the recent economic collapse in Ireland, Fintan O'Toole pulls no punches. He lays out in explicit detail how the power brokers (i.e. government leaders, bankers and land speculators and developers) in Ireland, when given the opportunity to erase poverty from the Irish landscape, made the decision to line their own pockets through corruption, offshore tax havens, and total lack of accountability. For those who have any sense of fairness, justice and ethics, this book clearly demonstrates once again that governments do not always carry out the will of the people nor are they concerned with the common good. A thoroughly readable and interesting book.

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