Austerity hasn’t ruined our prosperity

It might sound like a contradiction, but austerity hasn’t ruined our prosperity, according to a global study.

A report by the influential Legatum Institute places Ireland 12th out of 142 countries in its annual prosperity index, published today. That maintains the position we held last year and may signal an end to the slide that has seen us drop from a high of ninth in 2009. It also puts us one place ahead of Britain, and, somewhat surprisingly, two places ahead of Germany, while France could only manage 21st, Spain 26th and Italy 37th.

Norway makes the number one slot for the sixth year in a row. The index does not measure economic performance alone, but assesses countries on 90 indicators which are then collated under eight headings.