Irish GDP to outpace global rate - EIU

[bin.dare]

http://www.ireland.com/newspaper/finance/2004/1214/3580090901BZEIU.html

The Republic (of Ireland) will outpace the global economy in 2005, expanding strongly while growth rates decline elsewhere, the Economist Intelligence Unit said yesterday (EIU).

The London-based think tank warns that risks such as higher oil prices or an interest-rate shock could turn a "mild global slowdown" into a "slump" next year.

...

The report claims that other potential threats to the world economy include the risk of a sharp slowdown in China and the destabilising effect of economic imbalances in the world's largest economies.

The EIU highlights Equatorial Guinea as the country most likely to grow fastest in 2005 by posting expansion of almost 20 per cent, but also predicts that three of Europe's biggest economies - Italy, Germany and France - will be among the 10 worst performers worldwide.

[HuckleB]

1. What is so different about the Irish economy?

Why has it gone from backwater to frontburner over the last 15 to 20 years?

[AngryAmish]

2. Liberalized economy

Plus free college tuition for many years gave them one of the highest levels of education in the world.

Plus Irish people are just f'n cool.

[termo]

9. financial oportunities

like luxembourg, it is financially interesting to issue bonds/equities from ireland, it does cost less and the law is more flexible...

a lot of banks have some people there to manage a part of their assets.

[neweurope]

3. Plus a lot of money from the EU

:)

[AngryAmish]

4. true, true

[Igel]

5. And taxes below the EU norm. n/t

[many a good man]

6. And highest salaries, too

I recently read a worldwide salary survey for my field in a trade rag and it showed Ireland has the highest pay in the world for my tech position. It even beat out the US. I wonder, though, if Dublin is skewing the statistics; its the most expensive city in the world I hear...

[Brundle_Fly]

7. Tech In

Ireland totally revamped their economy.

[neweurope]

8. The gap between the rich and the poor seems to be widening there, too.

We were there last July and saw a lot of new mansions being built. We also saw a lot of people with teeth missing. Many of those we spoke to told us that they cannot afford as much as they used to. Also suicide rate is rising.