The collapse of the Irish economy during the Great Recession brought a substantial decline in GDP, a trebling of the unemployment rate, and a sharp increase in public debt. Key to the crisis was the size of a domestic property bubble. Since 2013, however, there has been a notable turnaround in the Irish economy, far stronger than in the other European countries which experienced crises.
This lecture, presented by Professor Frances Ruane will explore what has driven this recovery and what further challenges face Ireland. What lessons are there for the members of the European Union in managing crises in a monetary union, and indeed for other countries in seeking to recover from an economic crisis?
Professor Frances Ruane is currently an Honorary Professor at the Department of Economics at Trinity College Dublin (TCD), where she taught for over 25 years. In addition to her academic and research roles, Frances has contributed to policy making in Ireland and is currently a member of the Economic Advisory Group in Northern Ireland, the Council of Economic Advisors in Scotland and the Executive Committee of the European Statistical Advisory Committee (ESAC).