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The Irish Economy

Ireland has transformed its image and position in the world in a very short period of time. By shifting focus from just agriculture and including independent trade, hi tech industry and knowledge. Not surprisingly, a recent study by the Economist found that Ireland offers the 'best quality of life' in the world!

As the world struggles with a global financial crisis, no nation is untouched by the repercussions and has been affected in some way or another. This is the way a globalised economy functions. Ireland is also still severely under the spell of the financial crisis of 2008. The property market did go boom and bust but is showing signs of recovery.

Every country in the world has social problems to deal with. Crime is a major problem in the world today, and crime itself has changed in nature. Today terrorism looms large on the world, as does internet related crimes like fraud and identity theft .

Although crime rate on the whole is low, Ireland is dealing with a high rate of internet related crimes.

Solvency is a problem that has been admitted by the banks and financial governing bodies of Ireland. the property has been largely responsible for this problem. Irish banks received a bailout from the government, using tax payer's money in 2008. No caps on bonuses or salary cuts were demanded by the government.

The economy of Ireland is struggling at the moment as are many other countries in Europe and indeed around the world. Ireland, however, still remains one of the most advanced democracies and best places to live in Europe.