Ireland slumps in ‘freedom’ league

IRELAND has plummeted 14 places in the world economic freedom league, as the size of government’s role in the economy grows following the effective privatisation of much of the banking sector.

The Economic Freedom of the World: 2011 Annual Report ranks Ireland as the 25th most economically free country in the world, down from 11th just 12 months ago. The report was published globally by the Economic Freedom network and its Irish affiliate the Open Republic Institute.

A director of the Open Republic, Paul MacDonnell, said the Irish Government has taken extraordinary measures to intervene in the economy to support the banking system and the Government has dragged its feet over domestic economic reform, particularly reform in the public sector.