Has much changed in our ‘cute hoor’ nation?

Is this country capable of long-term economic sovereignty? It might seem like a moot point now given that the financial management of the country will be increasingly handed over to Brussels. But it still matters.

Since gaining independence, the economy has hit the buffers on a number of occasions. Erroneous policy decisions throughout the 1980s meant it was an economic wasteland for most of the decade. A brief period of enlightenment took hold in the early- to-mid 1990s, but the Bertie Ahern-Mary Harney axis made sure all the good work unravelled from 1997 onwards.

It would be unfair to pin the blame exclusively on domestic factors. The adoption of the single currency brought with it a completely inappropriate monetary policy. The economy was clearly overheating for much of the last decade.