Publication

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, fueled 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 Labor 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.