Crisis and Change in Ireland

Chari, Raj (2011) Crisis and Change in Ireland. Elcano Newsletter (77). 7 p.. ISSN 1698-5184

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Abstract

The 2011 Irish election must be placed in the context of both the economic and the political crisis that preceded the vote in order to examine its results and consider Ireland’s future in Europe. After years of economic growth during the ‘Celtic Tiger’ boom, Ireland fell into economic decline as a result of its financial crisis in 2008. Ireland’s fall can best be understood as home-made, fuelled by speculation and lax regulation of the financial sector. In the context of this economic and financial crisis, Ireland then suffered a political crisis in which the Fianna Fáil (FF) government coalition lost legitimacy, prompting an early election on 25 February 2011. Unsurprisingly perhaps, a new coalition government comprised of Fine Gael (FG) and Labour came into being as a result. A major issue to be addressed by the new government relates to the renegotiation of the interest rates on the EU/IMF bailout agreed in December 2010. However, what remains unclear is how much this new government’s hands are already tied and whether or not the EU seeks to renegotiate the terms of the deal.

Item Type: Article
Additional Information: Estudio sólo disponible en inglés
Uncontrolled Keywords: Europa
Subjects: INTERNATIONAL COOPERATION > COUNTRIES AND REGIONS > IRELAND
PUBLIC FINANCE; BANKING; INTERNATIONAL MONETARY RELATIONS > CURRENCIES; FINANCING > FINANCIAL MARKET.
ECONOMIC CONDITIONS; ECONOMIC RESEARCH; ECONOMIC SYSTEMS > ECONOMIC CONDITIONS > ECONOMIC CONFLICTS
ECONOMIC CONDITIONS; ECONOMIC RESEARCH; ECONOMIC SYSTEMS > ECONOMIC CONDITIONS > CRISIS
INSTITUTIONAL FRAMEWORK > POLITICS > POLITICAL LEADERSHIP
INSTITUTIONAL FRAMEWORK > POLITICS > POLITICAL PROBLEMS
INSTITUTIONAL FRAMEWORK > POLITICS > ELECTIONS
Divisions: Real Instituto Elcano, RIE
Depositing User: Jorge Horcas Pulido
Date Deposited: 15 Apr 2012 02:50
Last Modified: 15 Apr 2012 02:50
URI: http://biblioteca.ribei.org/id/eprint/2165

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