Would a recession make ireland a poor country again, or will ireland always be a rich nation?

Question

Would a recession make ireland a poor country again, or will ireland always be a rich nation?

Answer 1

Poor?

= )

Answer 2

Ireland is like one of those guys who were fighting outside the chipper after a disco. (bare with me). He had fought a few good fights in his time, won a few, was pretty confident, but he had decided to punch a bloke who was just too well-prepared, too strong and too fast, and the bottom line is, he wasn't BIG ENOUGH to take the punches.

Ireland is too small to take a big recession, in many ways we are another state in USA because we rely so heavily on them (Yahoo, Google, Intel). We also over-valued our housing (350,000 Euros - thats 550 Dollars) for a small 3 bedroomed house in a field 300 miles from Dublin(you can triple that figure in Dublin), and on top of that, the building boom IS OVER. There is also a whole host of Social Factors like everybody being out for himself, boozing, corruption (in the nicest possible way) and a leadership who thinks honesty is only taking 50-100 grand a time in a brown bag. To put it bluntly, it will take a Leprechaun (and a rich one at that) to take us out of the rain and into another rainbow....

             https://www.mysecretireland.com

Answer 3

Ireland will always be rich because its capital is always Dublin.

Answer 4

Poor again, just like it was in the eighties....  We are not a big enough country to manage a lot of unemployment.  Not looking forward to these times as they are creeping in.

Answer 5

Good question, I sure hope not. I dont think we'll ever go back to the way we were years ago, I think it really depends how long this recession is going to last, Its obvious pwoplw have less disposable income but I still think we have a long way to going back to them days when we were the poor man of Europe. In saying that I can definitely see a lot of people starting to eemigrate again and in to the future esp construction and I.T workers because them sectors have been the first to be hit. Two friends of mine both builders are going to Germany to work because theres just nothing here for them.

I do hope we never return to those bad old days but (and for as unpopular as this may make me) I definitely agree with the above poster re the Lisbon treaty, if we dont say yes we will isolate ourselves from Europe, and a lot may see this as agood thing, but when your speaking financially and European trading partners it most certainly isnt.

Answer 6

I hope it makes us poor again,  we had the opportunity to put money into health and education but choose instead to squander it on expensive infrastucture, unused digital voting machines and massive over development in building.    When we were poor we spent our money wisely.

As I write restaraunts are closing, coffee bars don't have the custom for their over expensive brews.  Local bars are empty most night and have just embarked on a massive radio add campain to get people out.  Watch this space!

Answer 7

Ach sure there's always the under the mattress contingency funds to fall back on. ;)

Answer 8

People will always cope, we did back in the eighties when nobody had anything. There are worse things than not having your own car, ipod, mp3 player, gameboy, computer ....

Poverty is relative. Things don't make you rich, values do.

Answer 9

hi you

if it is a very bad recession yes Ireland will return to the bad old days but the way its for cast just right not it look like we will ride this one out and stay in a good posion

Answer 10

Depends, our future stake within the EU has to be important if we want to stay on top. That's why the government have been pushing a yes vote, if we reject Lisbon we'll be outcast from the general EU and our exporting will diminish. A future in Europe is very important to our economic success in the next few years, like or hate the EU.

We also need more people in the IT sector and Finance. Too many people have gotten in with the trade sector in the last few years and we're paying for it now. It is estimated that an extra 68,000 people will sign onto the dole by the end of this year. 85% of these are estimated to be trades or labourers, many of them immigrants. We need to re-educate, get our tertiaty sector on top, keep our corporate tax low (even lower it further!) to stay on top. We we were the fourth richest country 4 years ago, I think we've slid to 7th or so now... We need to manage our money more effeciently, more precicly the government needs to handle its finances better. Education is the key for the future as is the national developement plan!! That means not wasting millions on a d**n tunnel that leaks and is closed every second day!!!