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Ireland is the new Wunderkid of Europe

Wall Street Journal hails new economic miracle

PAUL ALLEN,

IrishCentral.com Columnist

Published Tuesday, August 30, 2011, 7:31 AM

Updated Tuesday, August 30, 2011, 9:18 AM

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Dublin's O'Connell Bridge by night - Ireland is Europe's economic miracle

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For every action in Ireland there is an opposite and equal criticism. Indeed, if cynicism was an Olympic sport, we’d be untouchable.

But while the national mood of mourning continues to fester, the international media has begun to cautiously cheerlead our economic performance as we struggle out of the doldrums.

“Never mind the crushing grip of domestic austerity or the ravages of tightening monetary policy, the Irish economy is growing,” wrote the Wall Street Journal this week commenting on what it sees as “Ireland’s economic miracle”.

A few weeks earlier The Financial Times even suggested that “Ireland’s unexpected economic comeback” could provide the blueprint for other struggling European economies.

While dour forecasts dampen expectations around the eurozone, the pulse of the Irish economy is proving stronger and stronger.

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Michele Bachmann attacks US jobs going overseas to Ireland

Weather Channel's coverage of Hurricane Irene spiced up by streaker - VIDEO

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“Ireland's gross domestic product expanded by 1.3pc in the first quarter over the quarter before, boosted by strong exports,” highlighted the Wall Street Journal. “Continued export growth since suggests the Irish economy's recovery is entrenched. In June, Ireland's trade surplus came in at a record €4.08 billion, up 8pc on the previous month.”

Yet, in Ireland there are few cheerleading or even acknowledging the success so far achieved in nurturing our ailing economy back to health.

Yes, our recovery is still fragile, but nonetheless it is the envy of many of our neighbours who are fearful of slipping back into recession.

The problem is we are too busy, as Patrick Kavanagh once noted, sailing in “the puddles of the past” to be optimistic about our bright future.

So, while we were being described as economic wunderkids in the international press, former Taoisigh Bertie Ahern and Brian Cowen were being dragged back through the mud by the founding president of the University of Limerick Dr Ed Walsh for handling the Irish economy like “intoxicated joyriders.”

However, attacking the well-documented exploits of Ahern and Cowen at this stage is tantamount to shooting fish in a barrel. It is time to move on.

It is hard to imagine, even though Arsenal got a 8-2 drubbing from Manchester United at the weekend, that Arsene Wenger will allow his side wallow in defeat. His and his team’s focus will immediately go to the next match.

Like a boxer that has been knocked down and received a mandatory count, it is vital we stand up and fight rather than licking our wounds and live in fear of defeat.

While the fundamentals of the Irish economy remain strong, the key lies in consumer and small business spending. The problem is that when confidence is low people don’t spend. Thus economic pessimism can become a self-fulfilling prophecy.
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Michele Bachmann attacks US jobs going overseas to Ireland

Weather Channel's coverage of Hurricane Irene spiced up by streaker - VIDEO

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George Orwell in his 1946 essay Politics and the English Language, wrote, “Political language is designed to make lies sound truthful and murder respectable, and to give an appearance of solidity to pure wind.”

But it is not only politicians that can weave a false reality out of thin air. The media also plays a part in fabricating a reality that is not broadly true.

When the foreign press used images of piebald ponies, homeless people and ghost estates to try to capture modern Ireland during the visits of President Obama and the Queen, they were rightly criticised for their one-dimensional portrayal. But now the Irish media seems to have followed suit. No news may be good news, but open an Irish newspaper or tune in to the broadcast media and it won’t be long before you are tempted to cry a river.

Yes, there are people out of work and living in dire straits. However, this is not the norm and while their cause needs to be championed their plight should not be used to conjure a picture of a ‘down and out’ Ireland.

It may not make great headlines in the current climate, but it looks possible that Ireland could well be the star economic performer of Europe over the coming years. But it appears no one wants to shout about it too loudly.

Paul Allen, is Managing Director of Paul Allen and Associates PR, www.prireland.com.

Nster.com

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33 Comments

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seanomelbourne | Sep 02, 2011, 07:25 PM EDT

Geez George I agree with your post on 31st. Aug. re your uncle as I had relations who fought in 1916/1921 and they "taught" the treaty was a sellout.BTW correcting sperlling and using it to justify a point demeans your argument.

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kinvara7 | Sep 02, 2011, 02:11 PM EDT

@Georgedillon: When you say I have 'a two bit knowledge of Irish History', I only laugh at you; for despite what you say, you know you have learnt from my posts and don't worry in time I will teach you more. You call me a 'clown' but I can call you a liar (because you made a post claiming I hate the Irish language, even though you knew that was false, indeed I have often posted in Irish and have set out ways to increase its use); a hypocrite (because you often call people liars and then talk of how much you despise liars); and stupid ( example: you thought Poland had a population of 70 million people). I will end by repeating what I said previously -you do not have a good understanding of the Irish Civil War, or the events leading up to it.

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kinvara7 | Sep 02, 2011, 01:18 PM EDT

@Ironmountainmovies: To begin with you misunderstood the source of the article, and pointed to the fact that Mr. Allen is in PR to prove its lack of credit. Well he is not the source, neither is the WSJ. I also think you misunderstand what the 'miracle' is. No one is saying that things are great, but rather, that despite massive austerity and unfavourable international circumstances the Irish economy grew in the first quarter of this year. Such positive results have real effects: Irish 10-year bond yields have dropped to 8.95percent from a peak of 14.08percent. As a people we need to leave go of the negativity; it doesn't help, infact it does the opposite. Economic pessimism does become a self realising prophecy. Lack of consumer confidence is hurting the domestic economy. Irish savings continue to increase as people are afraid to spend their money, a fall in consumer activity leads to loss of jobs. You talk about the national debt and the level of unemployment as reasons to attack the news, but this country needs confidence to return to the domestic economy; that will see the creation of jobs. There are positive stories to tell about the Irish economy but they get drowned out by the noise of the herd.

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IronMountainMovies | Sep 01, 2011, 05:02 AM EDT

@kinvara7. The population of 4.5 million Irish citizens have nearly 15% unemployment, and owe over 200 billion euro, but if the Wall St Journal and a PR consultant or paid spin doctor tell us we are an economic miracle then it must be true. Right?

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casualMBA | Aug 31, 2011, 03:58 PM EDT

On the subject of altered circumstances, Ireland’s Civil War politics may have altered some circumstances in the past, for the better and the worse. George’s forebears’ policy of arresting Treaty negotiators upon return to Irish soil would likely have yielded 26 additional counties of UK citizens. And, on other circumstances, at my mother’s knee, George, in lieu of childhood vulgarities (the street did a fine job there,) I learned “There, but for the grace of God, go I.”

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casualMBA | Aug 31, 2011, 03:53 PM EDT

Paul Allen, in doing Irish Central’s bidding and crafting a positive expectation for Ireland’s economy in the future, may just be gushing a bit too much, too soon. As is said in the States, “the jury is still out.”… “… And what is it out on?” one may ask… “Better silence and censorship (or restraint,)” might be the response, “rather than stretch export numbers with the thin facts of football matches and pugilist images against pundits’ comments (even if they might approach fundamental cultural and/or economic truths) to declare a resumption of consumer gratification.” Much better to continue austere sacrifice in silence, - no?- gleaning all publicist activities until a (better disposed?) audience has coalesced with a willingness to recognize altered circumstances.

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sirpeter | Aug 31, 2011, 03:01 PM EDT

Georgy Boy.Quote"You think you can come on "hear" and make nutty claims"Unquote.It's "here" you illiterate fool.hahahaha.You're some plonker Georgy Boy.See how thick stupid you are? hahaha

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GeorgeDillon | Aug 31, 2011, 01:13 PM EDT

sirpeter-- history is "thought constantly for 13 years" in Ireland. It's "taught', you illiterate fool. But actually, that's a lie, history is most certainly not taught in Irish schools for 13 years. You think you can come on hear and make nutty claims because there's noone who knows Ireland to contradict you. Won't work with me. You're a fool and a foulmouth. Do you have children? Was that your wife I saw in a McDonalds in Ireland a few weeks back, shouting to her out-of-control children, "If yas don't shut up I'll f**king kill yes." That to 2 and 3 year-olds. Did you learn to curse at your mother's teat too?

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GeorgeDillon | Aug 31, 2011, 01:06 PM EDT

kinvara, I don't need clowns like you to parade your two bit knowledge of Irish history. My forefathers who fought in the Dublin Brigade swore an oath to defend the Republic of Ireland, that had, as they saw it, been established in 1916. That republic was democratically ratified by the vote of 1918. Those who negotiated the dissolution of that republic were traitors, and, as my granduncle used to say, should have been arrested the second they set foot on Irish soil after signing the Treaty they had no authority to sign. My forefathers had no time for De Valera either, he was in great part responsible for the failure of the anti-Treaty forces, which as one time controlled most of Ireland but were lead by fools and knaves. The pro-Treaty forces represented the most reactionary forces of rich farmers, capitalists and church. The evolution of Ireland since 1923 is a legacy of the victory of the right-wing in the Irish Civil War, and it's nothing to be proud of. Nine decades after the Civil War, the country remains a dump, the laughing-stock of Europe. Its capitalists import huge numbers of foreign labor units, while exiling the nation's young men and women.

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kinvara7 | Aug 31, 2011, 08:01 AM EDT

GeorgeDillon: Here is one of your previous posts: ‘Good point, CitizenWhy. In my case, one of my ancestors left the Free State in 1924, never to return, because his life was made intolerable by police, both regular and secret, clergy, employers and in general any member of the propertied classes. His crime? He stood by his oath to defend the Republic proclaimed by Pearse and Connolly in 1916 and thereafter illegally dissolved by Collins, Griffith and sundry traitors.’ It would appear that if anyone had a lack of knowledge regarding the Civil War it is you. Are you not aware that the Treaty was put to a democratic vote and the Pro-Treaty side won? Unfortunately, some Irish people didn’t accept the democratic process and a Civil War ensued, which caused the pointless deaths of many Irishmen and for what? Nothing, the Free State allowed the freedom to achieve the Republic. Things would have been much better had it not been for the foolishness of those who chose to ignore democracy and instead go to war against their fellow Irishmen. It was a tragedy which should never have happened.

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seanmac50 | Aug 31, 2011, 07:12 AM EDT

Thanks for writing something positive about my Country, Ireland. As a resident the media here reports only negative news about Ireland. Well done Irish Central.

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williamite | Aug 31, 2011, 02:53 AM EDT

The big mega loans should be available again any day now.......................Then What ?.

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CaptainCon | Aug 31, 2011, 02:09 AM EDT

There was a reason that medieval cities were glad to see the merchants packing up and clearing off before a city was entirely surrounded. They were the most likely to open a gate for the enemy so that business and trade could resume. It was a bad mistake allowing trade to start coming in and out of the front door of buildings in Dublin and we seem to have forgotten why trade were usually dealt with at the back door. Since when was a nation known only as a 'business interest'? Ireland Inc could do with being put back in its place and that is nowhere near running Irish society.

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CaptainCon | Aug 31, 2011, 02:05 AM EDT

A PR bullshitter toe-ing the corporate Ireland line. I'm sure there was a scotch waiting for him back at IBEC's offices. These people would be the first to take any corporate shilling that was offered- the industrial equivalent of a dockside tart.

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nicgearailt | Aug 30, 2011, 07:57 PM EDT

is it April 1st ? I am all for positive thinking ...but this is a big stretch...I will wait for a 2nd opinion on this...and the truth will out..

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