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How the Celtic Tiger lost its roar

Ireland has suffered the most dramatic fall from grace in recent European history. How has this happened—and who is to blame?

By John Murray Brown   January 2011

More on Ireland in this month’s magazine:

Julian Gough on why the Irish should marry their daughters to the IMF

Colin Murphy on Irish migration

Steingrímur Sigfússon, Iceland’s finance minister, had been planning to visit Dublin on 1st December to deliver a lecture to students at Trinity College. The title of his paper was “Iceland and the International Monetary Fund: what lessons for Ireland?” By chance, the longstanding engagement happened to fall a few days after Ireland had agreed the terms of a humiliating €85bn bailout by the IMF and a 16-member eurozone group led by Germany, and including…

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