Celtic Meltdown


Dr. Constantin Gurdgiev 
Economist, Trinity College, Dublin.
 "Celtic Meltdown certainly deserves attention for its clarity, factual depth and an ability to pull together differing points of view and proposals into a coherent structure.

The book opens with analysis of what transpired during the years immediately preceding the economic collapse. O'Dalaigh is superbly direct in summarising how the Celtic Tiger was built on quicksand of institutional and cultural nationalism, clientism, and historical backwardness of the political elites.

He gives the Tiger its legs of straw: wrong economic policies, venal greed of the public and State-protected sectors and vested interests, and the internecine nature of our belief that the State can lead us to salvation."

Eoghan Harris - Sunday Independent

 "A recently published powerful polemic by Cearbhall O Dalaigh, Celtic Meltdown makes a lot of sense. Unlike his presidential namesake, Cearbhall O Dalaigh is a man of the world and does not mince words.   He also advocates helping people re-finance their mortgages at lower rates and discounting some of the loans, by giving the banks tax-breaks to do so. This would free the people to start spending again."

 

 "With the Irish government’s bank guarantee in September 2008, the death knell sounded for Celtic Tiger Ireland. We watched in disbelief as the bubble burst: tax revenues collapsed, unemployment soared. This book will change your mind on many aspects of modern Ireland. In Celtic Meltdown Cearbhall O'Dalaigh goes behind the headlines to tell the inside stories the spin doctors have to date successfully covered-up."

 
 
 "Beginning in the early 1990s, the normally moribund Irish economy began a growth spurt that led many to call Ireland the "Celtic Tiger." The past two years have been disastrous for Ireland, however, and Ó Dálaigh blames the country's economic collapse on poor investment decisions made by Ireland's political and financial leaders. In a call to action, he argues that Ireland must re-establish a productive economy by controlling wages, reforming taxation, and strictly regulating the public sector."
 
 
 
 "Many factors are blamed for the current crisis but who is really responsible? Why was everyone taken by surprise? How did it happen? How can we prevent similar crises from happening again? Where do we go from here? The time has come for us to understand exactly why the Celtic Tiger crumbled so dramatically so that we can have some say in our own lives and livelihoods rather than leaving the control in the hands of the few. There is a way out of this mess, based on high standards, appropriate levels of pay and conditions, fair and efficient taxation, strict regulation in the public sector and in financial markets. Those in positions of power must also share the pain of recovery.
This is an ordinary person's take on the whole scene. Cearbhall  has gathered together all the issues in one affordable easily-understood package so that the average person can see why Ireland is broke but more importantly, how we can fix it.
 But as the author points out it's now time to think of solutions and Mr. O'Dalaigh has some original ideas to put forward."