The Irish pound served as the country's currency from 1928 until 2002

The state known today as the Republic of Ireland seceded from the United Kingdom in 1922. The state was plagued by poverty and emmigration until the 1990s. That decade saw the begining of unprecedented economic success, in a phenomenon known as the "Celtic Tiger". Download high resolution version (762x749, 211 KB)own image Uncirculated coin as part of a presentation pack; presented here as a greyscale image. ... Download high resolution version (762x749, 211 KB)own image Uncirculated coin as part of a presentation pack; presented here as a greyscale image. ... A IR£1 coin, featuring the Irish red deer. ... See also: 1927 in Ireland, 1929 in Ireland and the list of years in Ireland. Events January 29 - In Belfast, members of the Opposition protest at the governments plan to abolish Proportional representation. ... See also: 2001 in Ireland, 2003 in Ireland and the list of years in Ireland. Events January 1 - The Euro is introduced across the European Union. ... The Republic of Ireland (Irish: Poblacht na hÉireann) is the official description of an independent state which covers approximately five-sixths of the island of Ireland, off the coast of north-west Europe. ... The United Kingdom of Great Britain and Northern Ireland is a country in western Europe, and member of the Commonwealth of Nations, the G8, the European Union, and NATO. Usually known simply as the United Kingdom, the UK, or (inaccurately) as Great Britain or Britain, the UK has four constituent... 1922 was a common year starting on Sunday (see link for calendar). ... Cartoon of the Celtic Tiger - the press media in Ireland use pictures of green striped tigers to symbolise or sometimes mock the Celtic Tiger The Celtic Tiger is a nickname for the Republic of Ireland during its period of rapid economic growth between the 1990s and 2001 or 2002. ...

Effects of partition

After the War of Independence, part of Ireland gained independence from the United Kingdom. Twenty-six counties of Ireland became the Irish Free State, while the other six remained in the Union as Northern Ireland. The had already been a significant economic divide between these two parts of Ireland, but following partition both regions further diverged, with Belfast, as the North's economic centre, and Dublin becoming the capital of the southern state. Partition had a devastating effect on what became Ireland's border area. County Donegal for example was economically separated from its natural regional economic centre of Derry. The rail network struggled to operate across two economic areas, finally closing across a vast swath of Ireland's border area (the only cross-border route left being that between Belfast and Dublin). In general the economy of the Republic was much weaker than that of the North throughout the twentieth century, with the situation only reversing due to the 'Troubles' in Northern Ireland, and the Celtic Tiger era in the Republic. An Irish War of Independence memorial in Dublin The Anglo-Irish War (also known as the Irish War of Independence) was a Ireland by the Irish Republican Army. ... A true colour image of Ireland, captured by a NASA satellite on January 4, 2003. ... The United Kingdom of Great Britain and Northern Ireland is a country in western Europe, and member of the Commonwealth of Nations, the G8, the European Union, and NATO. Usually known simply as the United Kingdom, the UK, or (inaccurately) as Great Britain or Britain, the UK has four constituent... The island of Ireland is often referred to as the 32 counties, with its two states, Northern Ireland and the Republic of Ireland, being nicknamed respectively the six counties and the twenty-six counties. ... The Irish Free State (Irish: Saorstát Éireann) was (1922–1937) the name of the state comprising the 26 of Irelands 32 counties which were separated from the United Kingdom of Great Britain and Ireland under the Irish Free State Agreement (or Anglo-Irish Treaty) signed by British and Irish... Northern Ireland is an administrative region and one of four parts of the United Kingdom. ... This article is about the city of Belfast in Northern Ireland. ... Dublins Hapenny Bridge. ... For other uses, see Donegal (disambiguation) Donegal ( Irish: Dún na nGall) is a county in the northwest of Ireland. ... Derry or Londonderry (in Irish , Doire Cholm Chille or Doire), often called the Maiden City, is a city in Northern Ireland. ... For rail transport in Great Britain see rail transport in Great Britain Rail services in Ireland are provided by Iarnród Éireann in the Republic of Ireland and Northern Ireland Railways in Northern Ireland. ... The Troubles is a term used to describe two periods of violence in Ireland during the twentieth century. ...

1922-1960s

The establishment of the Irish Free State gave rise to the first serious attempt to industrialise Ireland. Farming became orientated around pasture rather than tillage, with the industrialisation of processing of products and the export business. The country was gradually electrified and new factories were encouraged, such as the Irish Sugar Company in Carlow. During the late 1930s the state's economy struggled against United Kingdom and a trade dispute followed, the Irish state put tariffs on British consumer goods, whilst the UK iimposed tariffs on Irish beef; this "economic war" was resolved shortly before the outbreak of World War II. Pastureland Pasture is land with lush herbaceous vegetation cover used for grazing of ungulates as part of a farm or ranch. ... Greencore is a food company in Ireland. ... Carlow (Irish: Ceatharlach, meaning four lakes) is an inland town in the south-east of Ireland in County Carlow, some 85 km (53 miles) from Dublin. ... Events and trends Technology Jet engine invented Science Nuclear fission discovered by Otto Hahn, Lise Meitner and Fritz Strassmann Pluto, the ninth planet from the Sun, is discovered by Clyde Tombaugh British biologist Arthur Tansley coins term ecosystem War, peace and politics Socialists proclaim The death of Capitalism Rise to... The United Kingdom of Great Britain and Northern Ireland is a country in western Europe, and member of the Commonwealth of Nations, the G8, the European Union, and NATO. Usually known simply as the United Kingdom, the UK, or (inaccurately) as Great Britain or Britain, the UK has four constituent... A tariff is a tax placed on imported and/or exported goods, sometimes called a customs duty. ... Beef is meat obtained from a bovine. ... Mushroom cloud from the nuclear explosion over Nagasaki rising 18 km into the air. ...

During the early years of independence the state pursued a protectionist policy and sought self-sufficiency, this initially led to the state taking control of private interests in the name of the 'public interest' - nationalisation and monopoly creation similar to that in vogue at the time in many countries. Many of the industries which were brought under government control at the time remain under 'semi-state' control today - others were sold in the 1980s and 1990s whilst others simply were downsized or closed when the economic reality became apparent. Protectionism is the economic policy of promoting favored domestic industries through the use of high tariffs and other regulations to discourage imports. ... Public interest is a term used to denote political movements and organizations that are in the public interest—supporting general public and civic causes, in opposition of private and corporate ones (particularistic goals). ... Nationalization is the act of taking assets into state ownership. ... This article is about economic monopoly. ... Events and trends The 1980s marked an abrupt shift towards more conservative lifestyles after the momentous cultural revolutions which took place in the 1960s and 1970s and the definition of the AIDS virus in 1981. ... Events and trends Technology Explosive growth of the Internet; decrease in the cost of computers and other technology Reduction in size and cost of mobile phones leads to a massive surge in their popularity Year 2000 problem (commonly known as Y2K) Microsoft Windows operating system becomes virtually ubiquitous on IBM...

1960s

In the 1960s the economy greatly expanded, under the leadership of Sean Lemass, many rehousing schemes were started to clear the Dublin tenements (including Ballymun); the Industrial Development Authority refocused on high technology and foreign direct investment was encouraged. Education was also reformed to a large extent, the state built a RTC system and later two NIHE institutions; both systems greatly expanded education, in particular technical education, university education was also reformed and expanded. Entry into the European Economic Community (forerunner to the European Union) in 1973 also added to Ireland's economic prospects. Centuries: 19th century - 20th century - 21st century Decades: 1900s 1910s 1920s 1930s 1940s 1950s - 1960s - 1970s 1980s 1990s 2000s 2010s Years: 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 Events and trends The 1960s was a turbulent decade of change around the world. ... ... Categories: Stub | House types ... Ballymun is an area on Dublins Northside close to Dublin Airport currently best known for the Dublin City University and the Ballymun flats, a development of 7 apartment towers and many smaller step-up blocks (i. ... IDA Ireland is the agency responsible for industrial development in Ireland. ... Foreign direct investment (FDI) is the movement of capital across national frontiers in a manner that grants the investor control over the acquired asset. ... A Regional Technical College (RTC) is a type of college in Ireland now replaced by an Institute of Technology (IOT). ... A National Institute for Higher Education (NIHE) was a category of higher education institution established in Ireland to provide higher level technical education above the standard of the then established Regional Technical College system but at university level. ... A university is an institution of higher education and of research, which grants academic degrees. ... The European Community (EC), most important of three European Communities, was originally founded on March 25, 1957 by the signing of the Treaty of Rome under the name of European Economic Community. ... The European Union or EU is an intergovernmental organisation of European countries, which currently has 25 member states. ... 1973 was a common year starting on Monday. ...

The 1968 Buchanan Report was a significant report on the regional dimension to economic planning which had largely been ignored. The report, prepaired by Colin Buchanan and Partners (http://www.cbuchanan.co.uk), investigated and recommended on the social and economic sustainability of industry in the regions. The reports principal advise was to recommend on a limited number of development centers throughout Ireland, which would have a minimum self sustaining size, this became quite controversial as their were less than a dozen of such places recommended. In the end local politics and patronage won out and the report was largely dropped with industry been ineffectively dispersed as local need arose.

However the boom did not last for long. Industrial relations disputes, inflation and poor management of the economy by the government took their toll in the late 1970s. By the 1980s Ireland was referred to as the 'sick man of Europe' [1] (http://www.fraserinstitute.ca/admin/books/chapterfiles/Tax%20Competition%20Helps%20the%20Global%20Economy-Dec03ffmitchell.pdf) and was far behind its European rivals - frequent changes in government compounded the situation. The government, often led by the now disgraced Charles Haughey, presided over a decade of high emigration, unemployment (about 18% for much of the decade) and economic mismanagement. Strike action (or simply strike) describes collective action undertaken by groups of workers in the form of a refusal to perform work. ... Inflation rates of five core members of the G8 from 1950 to 1994. ... Events and trends Although in the United States and in many other Western societies the 1970s are often seen as a period of transition between the turbulent 1960s and the more conservative 1980s and 1990s, many of the trends that are associated widely with the Sixties, from the Sexual Revolution... Events and trends The 1980s marked an abrupt shift towards more conservative lifestyles after the momentous cultural revolutions which took place in the 1960s and 1970s and the definition of the AIDS virus in 1981. ... Charles (Charlie) James Haughey ( Ir. ...

1980s

The 1980s in the Republic of Ireland was one of the state's bleakest times. An extremely irresponsible budget by the majority Fianna Fail government in 1977, which included abolition of car tax and borrowing to fund current spending, combined with some global economic problems to ruin the Irish economy for most of the 1980s, causing high unemployment and mass emigration. It is generally accepted that the Charles Haughey and Garret FitzGerald governments made this bad situation much worse with more massive borrowing and tax rates as high as 60% (with one Fine Gael finance minister suggesting people were not being taxed enough). The Republic of Ireland (Irish: Poblacht na hÉireann) is the official description of an independent state which covers approximately five-sixths of the island of Ireland, off the coast of north-west Europe. ... Fianna Fáil - The Republican Party (Pronounced fee-na fall.) (English: Soldiers of Destiny) is the largest political party in the Republic of Ireland. ... Unemployment rates in the United States. ... Charles (Charlie) James Haughey ( Ir. ... Dr. Garret FitzGerald (Irish: Gearóid MacGearailt) (born February 9, 1926) was the seventh Taoiseach of the Republic of Ireland. ... Current Fine Gael logo Fine Gael (United Ireland) (pronounced fi-na gale) is the second largest political party in the Republic of Ireland. ...

This was also an era of political instability and extreme political corruption, with power alternating between Fianna Fail and Fine Gael, with some governments not even lasting a year, and in one case, three elections in one year. The problems were eventually dealt with starting in 1989 with economic reform, tax cuts, welfare reform, more competition and a ban on borrowing to fund current spending. This policy was started by the 1989-1992 Fianna Fail-Progressive Democrats government and continued by the subsequent Fianna Fail-Labour and Fine Gael-Labour-Democratic Left coaltion governments. The Progressive Democrats (in Irish An Páirtí Daonlathach) is a free market liberal party in the Republic of Ireland founded in 1985. ... Logo of the Irish Labour Party The Irish Labour Party (Irish: Páirti an Lucht Oibre) is the third largest political party in the Republic of Ireland. ...

Celtic Tiger (1990s-2001)

Main article: Celtic Tiger Cartoon of the Celtic Tiger - the press media in Ireland use pictures of green striped tigers to symbolise or sometimes mock the Celtic Tiger The Celtic Tiger is a nickname for the Republic of Ireland during its period of rapid economic growth between the 1990s and 2001 or 2002. ...

In the 1990s, the Republic's economic miracle began: the 'Celtic Tiger'. High FDI rate, a low corporate tax rate, good economic management and a new 'social partnership' approach to industrial relations together transformed the Irish economy. By 2000 the Republic had become one of Europe's wealthiest nations, unemployment was only 4% and income tax was almost half 1980s levels. During this time, the Irish economy grew by five to six percent annually, dramatically raising Irish living standards to equal and eventually surpass those of many states in the rest of Western Europe. Events and trends Technology Explosive growth of the Internet; decrease in the cost of computers and other technology Reduction in size and cost of mobile phones leads to a massive surge in their popularity Year 2000 problem (commonly known as Y2K) Microsoft Windows operating system becomes virtually ubiquitous on IBM... Foreign direct investment (FDI) is the movement of capital across national frontiers in a manner that grants the investor control over the acquired asset. ...

Recent economic circumstances

Over the past decade, the Irish government has implemented a series of national economic programmes designed to curb inflation, ease tax burdens, reduce government spending as a percentage of GDP, increase labour force skills, and promote foreign investment. The Republic joined in launching the euro currency system in January 1999 along with ten other European Union nations. The economy felt the impact of the global economic slowdown in 2001, particularly in the high-tech export sector – the growth rate in that area was cut by nearly half. GDP growth continued to be relatively robust, with a rate of about 6% in 2001 and 2002 – but this was expected to fall to around 2% in 2003. Since 2001, GNP growth has been much worse, with an almost three-fold decrease in 2001 from the previous year. After a near stagnant year in 2002, growth started to pick up once again in 2003 [2] (http://www.finance.gov.ie/documents/publications/other/bes_04.pdf). Inflation rates of five core members of the G8 from 1950 to 1994. ... In economics, the gross domestic product (GDP) is a measure of the amount of the economic production of a particular territory in financial capital terms during a specific time period. ... The euro (€; ISO 4217 code EUR) is the currency of twelve European Union member states: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. ... 1999 is a common year starting on Friday of the Common Era, and was designated the International Year of Older Persons by the United Nations. ... The European Union or EU is an intergovernmental organisation of European countries, which currently has 25 member states. ... 2001 is a common year starting on Monday of the Gregorian calendar. ... 2003 is a common year starting on Wednesday of the Gregorian calendar, and also: The International Year of Freshwater The European Disability Year Events January January 1 - Luíz Inácio Lula Da Silva becomes the 37th President of Brazil. ...

See also

• Economy of the Republic of Ireland
• Economic history of Ireland
• History of rail transport in Ireland