
by Leonard P. Liggio The current economic crisis in Ireland has a political dimension. Since 1987 the Irish government has been formed by the Fianna Fail (Soldiers of Destiny) party as has been the case for most of the years since Irish independence. It is a populist party not too concerned about fiscal limits and closely associated with the real estate developers in the recent boom. Ireland has been able to attract foreign investment in production in Ireland with a low corporation tax. It had drawn revenue strongly from a tax on real estate transactions which now have disappeared. The…