Spendthrift Ireland needs to develop new economic masterplan

A strange sense of arrogance has resurfaced in Ireland this year. It reminds me of the attitude which prevailed at the height of the so-called Celtic Tiger, ahead of the 2008 crash.

At that time, there was a feverish rush to jack up prices in many parts of the Irish economy, and that had the ultimate effect of breaking the economy.

The global financial crisis acted as the catalyst for that downturn. It is not hard to find triggers for another one now.