EC4333 2008 Lecture11
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EC4333 Lecture 11 Ireland and the EU | Recap Dr. S. Kinsella | stephenkinsella.net
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Transcript of EC4333 2008 Lecture11
EC4333 Lecture
11Ireland and the EU | Recap
Dr. S. Kinsella | stephenkinsella.net
Today
1. Ireland & The EU
2. Exam stuff
3. Course Recap
1/3 Ireland in the EU
<1973
<1973
depression (negative growth)
high unemployment (18%)
high inflation (16%)
public finances in crisis (deficit of 15.1%)
balance of payments deficit (14.6% of GNP)
depreciating exchange rate
Mass emigration
Rising Poverty
Basket Case
1994~2001
7 years of spectacular growth (average 9%)
low unemployment (3.6%)
low inflation (1.4%)
surpluses on fiscal budget (3.5%)
balance of payments (3.7%)
The Celtic Tiger
2001-2008
6 years of solid growth (average 4%)
2001-2008
6 years of solid growth (average 5.2%)
2002 2003 2004 2005 2006
35000
40000
45000
50000
GDP Per Capita, US Dollars
2002 2003 2004 2005 2006
0.050
0.055
0.060
GDP Real Growth, !
low unemployment (4%)
increasing inflation (~5%)
2002 2003 2004 2005 2006
0.10
0.15
0.20
Inflation Rate, !
surpluses on fiscal budget turning into
deficits
So.
So.
So.
So.
So.
EU Fundingbuilding the economy; improving transport and communication networks; increasing trade; creating employment; promoting cultural diversity, peace and understanding; cleaning up the environment; restoring tourism amenities; sustaining a country life and protecting human rights
Benefits/Costs of EU Funding
1. billions of euros of EU funding over 33 years
1. billions of euros of EU funding over 33 years
2. a single European market established between the EU members
1. billions of euros of EU funding over 33 years
2. a single European market established between the EU members
3. the break up of national monopolies and their privatisation
1. billions of euros of EU funding over 33 years
2. a single European market established between the EU members
3. the break up of national monopolies and their privatisation
4. deregulation of the marketplace across Europe
1. billions of euros of EU funding over 33 years
2. a single European market established between the EU members
3. the break up of national monopolies and their privatisation
4. deregulation of the marketplace across Europe
5. the encouragement of free and fair competition between EU countries
1. billions of euros of EU funding over 33 years
2. a single European market established between the EU members
3. the break up of national monopolies and their privatisation
4. deregulation of the marketplace across Europe
5. the encouragement of free and fair competition between EU countries
6. unrestricted trade between EU member countries using common rules
6. unrestricted trade between EU member countries using common rules
7. a large and growing market of consumers as the EU enlarged and more countries joined
6. unrestricted trade between EU member countries using common rules
7. a large and growing market of consumers as the EU enlarged and more countries joined
8. low corporate taxes introduced within Ireland (12.5%)
6. unrestricted trade between EU member countries using common rules
7. a large and growing market of consumers as the EU enlarged and more countries joined
8. low corporate taxes introduced within Ireland (12.5%)
9. a stable Irish political system
6. unrestricted trade between EU member countries using common rules
7. a large and growing market of consumers as the EU enlarged and more countries joined
8. low corporate taxes introduced within Ireland (12.5%)
9. a stable Irish political system
10. a young educated English mother-tongue population
6. unrestricted trade between EU member countries using common rules
7. a large and growing market of consumers as the EU enlarged and more countries joined
8. low corporate taxes introduced within Ireland (12.5%)
9. a stable Irish political system
10. a young educated English mother-tongue population
11. high levels of Foreign Direct Investment flowing into Ireland
Ireland in 2008
(ESRI Q.EC Commentary)
Ireland in 2008
GDP growth expected to stall, or fall slightly
(ESRI Q.EC Commentary)
Ireland in 2008
GDP growth expected to stall, or fall slightly
Consumption growth of 1%
(ESRI Q.EC Commentary)
Ireland in 2008
GDP growth expected to stall, or fall slightly
Consumption growth of 1%
15% decline in investment
(ESRI Q.EC Commentary)
Ireland in 2008
GDP growth expected to stall, or fall slightly
Consumption growth of 1%
15% decline in investment
CPI expected to average 4% in 2008
(ESRI Q.EC Commentary)
Ireland in 2009
Ireland in 2009
GDP growth stagnant
Ireland in 2009
GDP growth stagnant
Consumption recovery, tax increases
Ireland in 2009
GDP growth stagnant
Consumption recovery, tax increases
2nd Budget by June 2009
Ireland in 2009
GDP growth stagnant
Consumption recovery, tax increases
2nd Budget by June 2009
Property crash continues
Ireland in 2050
Ireland in the EU?
GDP Growth @ 2% to 2050 Implies GDP per capita of 70,000 Euros per annum
Investment/Climate Change/Fertility/Technology
2/3 Exam
Exam2.5 Hours
10 Short Qs
4qs, Longer, do 3. (I’ll take your best 3)
Points inside qs determine time allotted.
3/3. Recap
History
History
EMU/OCA
History
EMU/OCA CAP
History
EMU/OCA CAP
Competition
History
EMU/OCA CAP
Competition Inequality
History
EMU/OCA CAP
Competition Inequality
Enlargement
History
EMU/OCA CAP
Competition Inequality
Enlargement Globalisation
History
EMU/OCA CAP
Competition Inequality
Enlargement Globalisation
EU & Ireland
Email.
EC4333 Lecture
11Ireland and the EU | Recap
Dr. S. Kinsella | stephenkinsella.net
