the celtic tiger

the state of the republic is a topic of constant debate over here. its the classic case of trying to find a balance between economic success and social content. Over the last 10-15 years, ireland has gone through one of the most dramatic economic turnarounds. thanks to their investment friendly economic policies, a large amount of foreign multinationals seeking european headquarters were attracted. after an education system overhaul that provided a young smart english speaking workforce coupled with a the lowest european corporate tax rate (12.5%). the countries unemployment rate plummeted to 4.5% and the average irish worker became europe's highest paid. construction boomed and housing prices skyrocketed 130% since 1985. ireland has become the most expensive country in europe to live in and dublin the most expensive city. the cost of groceries and in the pubs are the highest in europe. 40 year morgages are the norm. now there is a lot of backlash within ireland by the people calling ireland the "rip-off republic". people are beginning to really weigh the benefits of having a gov't that has focused so much on the economy which really hasn't produced a surplus for the worker, because as wages increased so has the cost of living. i'm glad i'm somewhat insulated from many of these things.