Celtic Tiger a Turning point in history?

alexlyons

Would you people on here consider the celtic tiger and the whole economic crisis as a "turning point in the history of the irish state since independence"?

ei.sdraob

which celtic tiger?

the export led wealth creation type of 90s

or the fake variety of the 00s

alexlyons

The whole lot, negative or posetive right from the start in the '90's to the recent banking cr*p. I would have thought so but a strongly based opinion would be great

ei.sdraob

Hmm more like an inflexion point in a wave I suppose

We will have another boom and bust

Since no lessons have been learned and the stage is being set for larger risks to be taken

I sure hope we can return to an export driven growth, the 90s weren't too bad at all for most part

alexlyons

ei.sdraob wrote: »

Hmm more like an inflexion point in a wave I suppose

We will have another boom and bust

Since no lessons have been learned and the stage is being set for larger risks to be taken

I sure hope we can return to an export driven growth, the 90s weren't too bad at all for most part

yes but would you not feel the celtic tiger was a turning point? what with the housing boom, full employment etc

ei.sdraob

alexlyons wrote: »

yes but would you not feel the celtic tiger was a turning point? what with the housing boom, full employment etc

oh of course sorry i was just being pessimistic earlier

yes a generation of people is saddled with debt, the next one after it can look forward to unemployment, and everyone is realising that money needs to be earned by hard work and that money doesnt grow on trees/houses/banks :P

so yes its a turning point I suppose

MaceFace

Yes

hiorta

Wasn't the root of 'The Celtic Tiger' to be found in the €uro?

alexlyons

ei.sdraob wrote: »

oh of course sorry i was just being pessimistic earlier

yes a generation of people is saddled with debt, the next one after it can look forward to unemployment, and everyone is realising that money needs to be earned by hard work and that money doesnt grow on trees/houses/banks :P

so yes its a turning point I suppose

MaceFace wrote: »

Yes

perfect, thanks all

alexlyons

hiorta wrote: »

Wasn't the root of 'The Celtic Tiger' to be found in the €uro?

if that's true then it's actually unbelievably helpful! an ideas?

ei.sdraob

hiorta wrote: »

Wasn't the root of 'The Celtic Tiger' to be found in the €uro?

the boom in the 90s (lets call it Celtic Tiger 1.0) came before the euro

fontanalis

hiorta wrote: »

Wasn't the root of 'The Celtic Tiger' to be found in the €uro?

More to do with an educated workforce and low corporation tax, I think.
I think the era should be called The Celtic Sabretooth Tiger, as in extinct.

hinault

I still contend that the IEP £8b infusion by the EU in to the Irish economy in 1993/4, was the catalyst to helping to the sustainable growth of the latter 1990's.

We're not totally screwed yet in all fairness. Not being able to afford the same amount of holidays/new cars per year is not a sign of sudden poverty, it's a correction.
We will continue to enjoy an extremely high standard of living.

cleremy jarkson

Would people agree that living standards and general economic outlook in, say, 1996 were much better than in 1993? I think of the E.U structural funds as being the cash injection that Ireland needed to kickstart the sluggish stagnant economy that existed before it, especially since the government was forced to take so much money out of the economy during the late 80's and early 90's.

ei.sdraob

Rojomcdojo wrote: »

We're not totally screwed yet in all fairness. Not being able to afford the same amount of holidays/new cars per year is not a sign of sudden poverty, it's a correction.
We will continue to enjoy an extremely high standard of living.

damn but we came so close to almost everyone in country driving a german car or owning a multimillion dollar home, with a whole underclass of imported workers serving our needs

we were rich, rich i tell ya

erm :P

dan_d

Personally I'd call it a learning experience (hopefully) more than a turning point.
I'm pretty sure the day the Lehman Brothers collapsed was the turning point.

ardmacha

Hopefully recent events have been dramatic enough that lessons will have been learned in Ireland, and in places like Greece. People will not be as keen to borrow as if there is no tomorrow and will behave more repsonsibly and expect their public representatives to do likewise, for a while anyway. The UK has similar problems but hasn't really drawn any real lessons from the situation as it just devalues.

fontanalis

dan_d wrote: »

Personally I'd call it a learning experience (hopefully) more than a turning point.
I'm pretty sure the day the Lehman Brothers collapsed was the turning point.

Why exactly, may have been the straw that broke the camels back in that it drew exposure to the industry but the ddebt had already built up at that stage.

fontanalis

Rojomcdojo wrote: »

We're not totally screwed yet in all fairness. Not being able to afford the same amount of holidays/new cars per year is not a sign of sudden poverty, it's a correction.
We will continue to enjoy an extremely high standard of living.

But is it not true to say that people bought things in the past they really couldn't afford but they now have to pay for them in a time of less money.

fontanalis

fontanalis wrote: »

But is it not true to say that people bought things in the past they really couldn't afford but they now have to pay for them in a time of less money.

This is true and well..unlucky for them.

Our primary concern should be to maintain a high standard of living for as many people as possible while making sure that this standard of living is passed on to our kids and future generations. It makes me sick when certain groups advocate mortgaging their kids future in order to keep the same 40" flatscreen TV/BMW/Skiing every winter lifestyle going when the reality is that while they can't afford it now, they couldn't before either.

Permabear

This post has been deleted.

CuLT

This thread looks suspiciously like a school homework question.

Especially considering this thread.