Western Europe

A Peek Into Several European Countries

Irish Frugality Kills the Economy?

By Destiny G. Albritton

Just when it seemed there was a light at the end of the tunnel, Ireland’s economy began feeling cramped up earlier this year. According to the findings of the Central Statistics Office, it’s safe to say Ireland is back in a recession.If you can believe it, employments rates have been steady however Irish exports have declined this year, according to the Irish Times.

irish economy

In The Post-American World, Fareed Zakaria argues that American households should make saving money more of a practice. Hopefully that advice isn’t one size fits all because ironically, one of the possibilities for the economic recession in Ireland which is being explored is the trend of saving one’s finances becoming more popular. This practice of households within a nation leads to less consumption and a wilting economy, possibly.

In 2009, Forbes predicted Ireland was one of the countries which definitely would not bounce energetically back from the recession. Who could have predicted more Irish citizens handling their finances with frugality could be considered the root of falling back into an economic decline?

Ireland has been a member of the UN since 1955 and is a strong advocate for everything international order the UN stands for. Ireland has also been a member of the IMF since 1957 and a member of the WTO since 1995.

Irish UN peacekeeping soldiers take part

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One comment on “Irish Frugality Kills the Economy?

  1. Monika Fischer
    September 15, 2013

    Austerity is what Angela Merkel preaches – but you say it might not work. Who else says so? http://www.telegraph.co.uk/news/worldnews/europe/germany/10022580/As-Europe-rebels-against-austerity-Berlin-shows-signs-of-giving-way.html

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This entry was posted on September 6, 2013 by in Ireland.
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