UK tax payers to save dying Celtic Tiger

Ireland used to be known as the “The Celtic Tiger”, and ranked the best place to live according to a "quality of life" assessment by The Economist magazine in 2005. The country now depends on the UK and the whole of the EU to rise from the deepest recession in history. But is it up to us tax payers to solve the economic mess?

The UK might depend on Ireland as much as Ireland on the UK right now, according to the BBC. A Dublin commentator likened it to “two drunks staggering out of a pub and doing their best to keep each other upright”.

With Ireland being the UK’s fifth biggest export market, and with the average Irish citizen spending an annual average of £3,607 on British goods, it is in many ways in our own interest to save the staggering economy of Ireland.

But is it fair that while the UK is going through the most severe recessions in modern time, its taxpayers are expected to reach deep in their pockets for up to £300 per houshold to help Ireland.

On BBC Radio 4's Today program, Chancellor George Osborne said: "Our two economies are connected, and our two banking systems are interconnected".

Yet another Greece 

Mr. Osborne's statement might be true, but Ireland is now beginning to look more and more like another Greece. 


Greece was recently rescued by the EU, and the International Monetary Fund (IMF) in a staggering 110bn Euros rescue package. After Ireland, who is next up?

Not only are the tax payers getting increasingly tired of fixing nation’s financial break-downs, often caused by irresponsible governmental decisions, but it might even cause more harm than good.

The stock markets took a leap of joy when the bail-out plan was released. But the euphoria of the European financial market quickly subsided to be replaced by a huge worry for the growing political instability.

Protests and re-elections

The emergency bail-out debate has already caused protests and trade unions have warned of “civil unrest”. 


And it has resulted in a call for re-election by the Green Party (a partner in the Government).

There’s a fine line between helping a suffering nation in rough economic times and making sure countries take responsibility for their own actions.

Relaying on being bailed out by EU’s tax payers doesn’t promise for a prosperous and responsible handling of national finances.