Wednesday, November 17, 2010

Lest we forget what they used to say - 2

A generation ago, the very idea that a British politician would go to Ireland to see how to run an economy would have been laughable. The Irish Republic was seen as Britain’s poor and troubled country cousin, a rural backwater on the edge of Europe. Today things are different. Ireland stands as a shining example of the art of the possible in long-term economic policymaking, and that is why I am in Dublin: to listen and to learn.

George Osborne, 23 February 2006

A couple of fairly substantial economies, Ireland and Portugal, are teetering on the brink of collapse

Robert Peston, 16 November 2010

...official data showed that the former "Celtic Tiger" sank into a double dip recession in the spring. News of the relapse rattled the financial markets and put additional pressure on Dublin's unpopular coalition government, which had previously insisted that its tough budget cuts were helping to stabilise the economy. Ireland has also been hailed by Britain's coalition government for its
decision to tackle the double-digit budget deficit left by the collapse of its property bubble with immediate and deep cuts...

Larry Elliott, The Guardian, 23 September 2010

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