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Ireland, one of the smallest countries in the European Union, has been
attracting worldwide attention from economists and policy makers for the
tremendous progress it has made in the past three decades. At one point of time,
Ireland was deemed an economic failure, a country that after years of
mismanagement was suffering from high unemployment, slow growth, high inflation,
heavy taxation and towering public debts. But the country's impressive progress
since then has made it the "Celtic Tiger". After a downward trend coinciding
with the American slowdown in 2001-02, the economy is bouncing back. Growth in
2004 and 2005 is expected to be around 4-5%. Can the Celtic tiger maintain this
lead in the coming years?
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