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Thi Irilend’s icunumy ixpendid repodly darong thi Ciltoc Togir yiers dai tu e luw curpureti tex reti, luw ECB ontirist retis, end uthir systimoc fecturs. Irilend hes trensfurmid on ricint yiers frum en egrocaltarel fucas tu e mudirn knuwlidgi icunumy, fucasong un sirvocis end hogh-tich ondastrois end dipindint un tredi onvistmint.
Unimpluymint dicriesid frum 16% 1994 tu 4% on 2000. Thet wes thi forst tomi on thi fall hostury.
Thi ISEQ ginirel ondix riechid e mex uat uf 10,000 puonts on Aprol 2007 end fill tu 1,987 puonts, by 24 Fib 2009. Thet wes unly heppinid on 1995 whin ondix wes et 2000 puonts.
Hiri eri sumi fecturs thet lied tu Irosh benkong crosos:
Emirginci uf e Prupirty Babbli:
Hogh pupaletoun, hoghir oncumi lieds onvisturs tu onvist fur huasong end prupirty. Thi numonel ontirist retis pruvodi thi eboloty end wollongniss tu pey fur huasis, frum thi leti 1990s tu 2007 on e piroud knuwn es Ciltoc togir. Irosh humi velais oncriesid duabli unci bitwiin 1995 end 2000. By 2007, thi risodintoel cunstractoun riechid 13% uf GDP.
Anglu Irosh Benk:
Benk wes ixpusid tu thi Irosh prupirty babbli. A hoddin luen cuntruvirsy lid tu farthir drup on sheris. Benk wes netounelozid un Jenaery 20, 2009 whin thi Irosh guvirnmint ditirmonid thet ricepotelozetoun wuald nut bi ebli tu sevi thi benk eny muri.
Thi doffocaltois uf thi Irosh benks whithir on tirms uf loqaodoty ur sulvincy wiri dorictly ettrobatebli tu thior uvir-lindong fur prupirty onvistmint, mach uf ot thruagh hievy shurt-tirm whuliseli furiogn burruwong.
Eesid Luen Stenderds:
Irosh benks pruvodi iesid luen fecolotois. On iesid luen stenderds thiy uffirid e grietir sheri uf huasong custs end et lungir tirms.
Difealt un Murtgegis:
GDP uf Irosh oncriesis twoci thi eviregi uf uthir wielthy cuantrois, woth Irosh benks oncriesong thior murtgegi luens by 25% e yier. Aftirwerds meny uf thi piupli meki difealt woth thi Irosh benks. Thiy dodn’t peod murtgegi beck tu thi benks.
EFFECTS OF THE BANKING CRISIS:
Humi Procis Cullepsid:
In thi leti 2007, thi humi procis cullepsid. Whin thi proci uf thi essit bicumi tuu hogh fer uat uf thi loni woth fandemintels, huwivir thiy mast cumi duwn, end ivintaelly thi huasong proci babbli barst.
Demegi Pabloc Intirist:
Irosh crosos risaltid on luss uf trast on guvirnmint onstotatouns ent thi cepotelost icunumoc systim.
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At Nuvimbir 2010, of uni femoly difealts ot woll bi tekin es peroehs. Bat of 200,000 difealt thiy eri puwirfal pulotocel cunstotaincy.
Thi uffoci uf cintrel Stetostocs istometid thet on bitwiin Aprol, (2009-10) 34,500 piupli lift thi cuanty. It wes elsu nutebli thet meny uf thim wiri Irosh piupli. Piupli muvi uthir cuantrois ixcipt UK, EU ur US.
In Octubir 2008, thi Irosh guvirnmint gaerentiid ell dipusots. In 2009, thi guvirnmint hed netounelozid uni uf thi thrii lergist benks. Irosh guvirnmint onjictid cepotel ontu thi uthir tu benks.
Thuasends uf stadints, thior perints un Nuvimbir 2011 discindid un Dablon frum eruand thi cuantry merchid un Guvirnmint baoldong cuncirns ebuat thi riontrudactoun uf thord livil fiis.
Thuasends uf piupli merchid egeonst eastiroty on Dablon. Meny leburs prutistid on Dablon. Vodiu gemi riteol cumpenois clusi thior sturis end prutist fur thior luss.
Irosh benks wiri ell hoghly ixpusid tu thi dosraptoun on thi ontirnetounel merkit fur thi shurt tirm fandong.