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What George Osborne said about Ireland before the crash

Oliver Wright

112267316 292x300 What George Osborne said about Ireland before the crashIn a tweet earlier today Denis McShane asked if anyone could dig up George Osborne’s comments on Irish economy before the 2008 crash.

A quick search reveals a speech he made at University College Dublin’s Michael Smurfit School of Business in 2006 about the lessons the UK could learn from Ireland. It makes interesting reading.

The key quote is this: “Ireland stands as a shining example of the art of the possible in economic policy-making….With its vision of a highly- educated, innovative, open, dynamic, low-tax economy and relentless focus on the long-term drivers of prosperity, Ireland’s economic miracle has shown that it has the answers to the challenges of the new global economy.”

Well, I guess two years is a long time in economics. But nonetheless….

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  • Guest

    I submit, the subtlety of your ad hominems leave me speechless. You have clearly proved the causative relationship between Ireland’s economic policy pre-crash and the problems caused by them subsequently agreeing to guarantee their bank’s debt, so it is entirely appropriate and not at all puerile to mock George for praising the former.

  • stonedwolf

    I call that a win.

  • stonedwolf

    the Irish economy and government economic planning played absolutely no role in the crisis in Ireland. What caused the crisis was the incompetent behaviour of the banking sector mixed with poor regulation of that sector.

    Oi you – this boat’s sinking because you haven’t fitted a bottom to the boat!

    “Nah mate. It only looks that way. The truth is the boat is sinking because the water is rising.”

  • Howard

    Another headline reader ………

  • stonedwolf

    I’m, erm, taking the Mick out of you for appearing to suggest “government economic planning” and “financial industry regulation” are unrelated.

  • Howard

    That’s an easy swipe at a whole country and government. The ‘economy’ of Ireland did brilliantly for a decade. The economic policies they implemented worked really well in almost all areas, except ….. of course the obvious. Suer they screwed up one big area but the truth is most countries did the same. They were unfortunate in that the Banking Sector really really really screwed them big time and the system wasn’t prepared for such gross stupidity.

    I just think it’s unfair to pain the whole country and government with one brush because of this.

  • stonedwolf

    The economy of Ireland “did brilliantly” for a decade because it was a net
    recipient of EU funds.

    Remove the EU expenditure and remove the property bubble and you’re left
    with a more honest picture of the Irish economy – there isn’t one.

  • Howard

    stonedwolf wrote: “The economy of Ireland “did brilliantly” for a decade because it was a net
    recipient of EU funds. Remove the EU expenditure and remove the property bubble and you’re left with a more honest picture of the Irish economy – there isn’t one.”

    Again an easy tabloid response that ignores the fact that Greece and Spain received equally large EU funds toward capital expenditure and yet their economy went nowhere.

  • Derek_M

    I wonder why that shyster MacShane asked the question?


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