Christmas Cheer for the Irish Economy

After several years in decline, the Irish GDP is expected to grow again next year. After a massive banking and housing bubble, with taxpayers bailing out failing businesses, the Celtic Tiger is slowly getting back on his feet. Experts also predict the unemployment rate falling - but the rate will still be over 14 per cent.

The good news is particularly welcome across Europe, as the Irish government has complied with all the regulations attached to the EU bailout - government spending has been cut, the VAT has been increased to 23 percent, and the pension age moved up to 68 years - a record in Europe. The big financial governing bodies like to compare the quiet Irish resolve to shoulder the hardship with the volatile protests in Greece. In the last four years, Irish citizens have seen seven austerity packages passed by their Parliament, and cuts amounting up to a fifth of the GDP have especially hit pensioners, struggling families and the unemployed.

Like elsewhere, failing banks were nationalized, following the general tendency to nationalize losses and privatize profit. Hard-working people have to pick up the pieces and tighten their belts, yet again.

But there is light at the end of the tunnel, and maybe, just maybe, the people who have left Ireland for brighter shores may find opportunities at home again.