Ireland playing fiscal catch-up, says Economist

IRELAND’S economic success was down to playing catch-up after 50 years of mismanagement, leading British magazine The Economist said yesterday.

The economy will struggle to find ways to keep its momentum going and remains at risk to a property crash that could destabilise Irish banks, according to the magazine’s latest survey of the Irish economy.

Economist Europe editor John Peet said that Ireland’s apparent miracle reflected a country catching up with neighbours that had played their economic cards more successfully.