Ireland’s Sovereign Debt Crisis

Karl Whelan ()

No 201109, Working Papers from School of Economics, University College Dublin

Abstract: Among the countries currently experiencing sovereign debt crises, Ireland’s case is perhaps the most dramatic. As recently as 2007, Ireland was seen by many as top of the European class in its economic achievements. Ireland had combined a long period of high economic growth and low unemployment with budget surpluses. The country appeared to be well placed to cope with any economic slowdown as it had a gross debt-GDP ratio in 2007 of 25% and a sovereign wealth fund worth about €5000 a head.

Keywords: Celtic Tiger; Sovereign debt crises; Banking crises; EU-IMF bailout (search for similar items in EconPapers)
Pages: 23 pages
Date: 2011-05
New Economics Papers: this item is included in nep-bec, nep-eec and nep-fdg
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Citations: View citations in EconPapers (6)

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http://hdl.handle.net/10197/6384 First version, 2011 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:ucn:wpaper:201109

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