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Ship of Fools: How Stupidity and Corruption Sank the Celtic Tige

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Book Title
Ship of Fools: How Stupidity and Corruption Sank the Celtic Tige
ISBN
9781586488819
Publication Year
2010
Type
Textbook
Format
Hardcover
Language
English
Publication Name
Ship of Fools: How Stupidity and Corruption Sank the Celtic Tiger
Item Height
241mm
Author
Fintan O'toole
Publisher
Publicaffairs,U.S.
Item Width
162mm
Subject
Business
Number of Pages
240 Pages

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The death of the Celtic tiger is not an extinction event to trouble naturalists. There was, in fact nothing natural about this tiger, if it ever really existed. The Irish Economic miracle was built on good old-fashioned subsidies (from the European Union) and the simple fact that until the 1980s Ireland was by the standards of the developed world so economically backward that the only way was up. And as it began to catch up to European and American averages, the Irish economy could boast some seemingly remarkable statistics. These lured in investors, the Irish deregulated and all but abandoned financial oversight, and a great Irish financial ceilidh began. It would last for a decade. When the global financial crash of 2008 arrived it struck Ireland harder than anywhere-even Iceland looked like a model of rectitude compared to the fiasco that stretched from Cork to Dublin. There was an avalanche of statistics as toxic as the property-based assets that lay beneath many of them: type= disc The International Monetary Fund was predicting that Ireland's Gross Domestic Product (GDP) would shrink by 13.5 per cent in 2009 and 2010-the worst performance among all the advanced economies and one of the worst ever recorded in peacetime in the developed world. type= disc Government debt almost doubled in a year. type= disc In May 2008, &euro13.5 million was paid for a 450-acre farm in Warrenstown, County Meath-one of the highest prices ever paid for agricultural land anywhere in the world. By 2009 the level of debt among Irish households and companies was the highest in the European Union. type= disc The country's gross indebtedness was larger than Japan's, which has thirty times the population. type= disc Between 1994 and 2006, the average second-hand house price in Dublin increased from &euro82,772 to &euro512,461-a rise of 519 per cent. By 2009 Irish house prices had fallen more rapidly than any others in Europe. type= disc With a fifth of its office spaces empty, Dublin had the highest vacancy rate of any European capital and was rated as having the worst development and investment potential of twenty-seven European cities. type= disc The Irish stock exchange fell by 68 per cent in 2008 type= disc The average Irish family had lost almost half its financial assets type= disc Unemployment rose faster than in any other Western European country, increasing by 85 per cent in a year. type= disc Ireland's bad bank, the National Assets Management Agency (Nama), which had to take over &euro90 billion in loans to developers from banks that would otherwise be insolvent holds more assets [sic] than any publicly quoted property company in the world, dwarfing giants such as GE Capital Real Estate and Morgan Stanley Real Estate, which own assets of &euro60 billion and &euro48 billion respectively.And under all this rubble lay the corpse of the Celtic Tiger. How Ireland managed to achieve such a spectacular implosion is a stunning story of corruption, carelessness and venality, told with passion and fury by one of Ireland's most respected journalists and commentators.

Product Identifiers

Publisher
Publicaffairs,U.S.
ISBN-13
9781586488819
eBay Product ID (ePID)
89705572

Product Key Features

Author
Fintan O'toole
Publication Name
Ship of Fools: How Stupidity and Corruption Sank the Celtic Tiger
Format
Hardcover
Language
English
Subject
Business
Publication Year
2010
Type
Textbook
Number of Pages
240 Pages

Dimensions

Item Height
241mm
Item Width
162mm

Additional Product Features

Title_Author
Fintan O'toole
Country/Region of Manufacture
United States

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Book in excellent condition, great price and fast dispatch, excellent service, recommended seller.⭐️⭐️⭐️⭐️⭐️
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Some good recipes in here. Was hoping for more strictly vegetarian ones but overall still a good purchase
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