Sean Gilligan's Blog

6.29.2005

Ireland Second Richest Country in European Union!

According to The End of the Rainbow (New York Times), Ireland now has the second highest per capita G.D.P. in the European Union. As an Irish-American and dual-citizen this news makes me happy and proud. I last visited Ireland in 1992 when unemployment was 20 percent. At least one Irish relative desperately asked me to tell my American friends to buy Irish products. Clearly a change in policy was needed. Says The Times:
And change Ireland did. In a quite unusual development, the government, the main trade unions, farmers and industrialists came together and agreed on a program of fiscal austerity, slashing corporate taxes to 12.5 percent, far below the rest of Europe, moderating wages and prices, and aggressively courting foreign investment. In 1996, Ireland made college education basically free, creating an even more educated work force.
[via O'Reilly's Radar]

Erin go Braugh!

7 Comments:

  • you should say European Union, not europe as whole, cause then you would be below switzerland and norway :)

    By Anonymous Anonymous, at 1:48 AM  

  • Anonymous makes a good point, reminding me that the EU does not include all of Europe, notably Norway and Switzerland. I have corrected the post. (The New York Times article did not make this mistake.)

    By Blogger Sean Gilligan, at 8:39 AM  

  • second richest......think Luxembourg is no.1

    Denmark is no. 2

    Ireland no.3...........

    According to statistics, that is. But Friedmann dosent seem to know that. Idiot.

    By Anonymous Anonymous, at 1:03 AM  

  • God! You are so disgusting rude in the USA. Call a man an idiot for a simple mistake!!

    By Anonymous Anonymous, at 10:01 AM  

  • 10th July 2006
    A new league table of wealthy nations is putting Ireland second richest, behind Japan.

    The Bank of Ireland report puts us ahead of the US, the UK, Italy, France and Germany and puts our average net worth per head at almost €150,000.

    This report examines how rich Ireland has become over the past ten years.

    The country is now home to 30,000 millionaires, and we're saving more than €10m a year.

    Our net wealth has grown by 350% in the past decade, and it is estimated that net worth here will reach €1.2 trillion by 2015.

    The study also notes that the bulk of our wealth has been created since the mid-90s, and attributes this to a willingness to borrow to invest, and to take risks.

    Bank of Ireland's research predicts that as property prices stabilise, Irish people will choose different forms of investment, and choose to hold more of their assets in cash.

    By Anonymous Anonymous, at 5:24 AM  

  • This comment has been removed by a blog administrator.

    By Anonymous Anonymous, at 5:24 AM  

  • which webste tells you the league table for the richest countries?

    please andthankyou

    By Anonymous Anonymous, at 9:54 AM  

Post a Comment

<< Home