High Unemployment Irish Economy Essay
Module Title: Business Economics
Module Code: EC291
Lecturers Name: Dermot Gallagher
The current recession has had a huge effect on every day Ireland, the Celtic Tiger years are a distant memory. Gone are the days of living beyond on our means and there are very few people left in this country who have not felt the growing financial pressures. When a recession hits, Unemployment figures increase enormously. We agree with the assignment statement, in that we feel that unemployment will remain high over the coming years and we will strive to prove this statement correct in the following pages.
We feel that there are certain factors …show more content…
"The huge sums of money that have been put in by the government to support the banks, have not generated sufficient confidence yet. The money is enough objectively, but the confidence isn't there, and it's partly not there because investors are concerned in general about the government finances and the future prospects for growth and employment."
(Honan, Patrick, Central Bank Governor, speaking to RTE, 18/112010)
A huge factor in attracting multinational companies to these shores other than the low corporation was the fact that Ireland had gained a