Ireland:from one of the poorest to one of the most prosperous countries.(worth reading!!!!)

The economic performance of Europe is nothing to get excited about. Yet there is one European member state that seems to defy the law of economic gravity: Ireland also called the Celtic Tiger.

Recently the economic performance of several European countries has been compared(based in Belgium).The comparison was mainly between Belgium and Ireland(1984 - 2002)It was found out that there were a surprising amount of large differences in economic growth and GNP(gross national product) per capita.Researches showed that Belgian real growth over this 18 year period amounted to 42%.Ireland managed to get an incredible 167%! Really how Ireland managed to become one of the most prosperous countries????
n 1985, the economy of Ireland was in shambles. It faced excessive budget deficits and minimal growth.Irish unemployment stood at 17% against 10% for Belgium. Until 1985 both countries followed similar Keynesian policies of deficit spending. In 1983 Belgian public spending exceeded 50% of GNP.The first move Ireland did was in 1985:It drastically lowered the tax burden, and all wasteful government spending was eliminated.When taxes were lowered many big companies took the initiative and opened their central buildings for Europe there. Also in three years, public spending was reduced by 20%.The result was that Ireland entered a period of explosive GNP growth, averaging 5.6% from 1985 to 2002. This is roughly three times the Belgian growth rate.By doing this new jobs were created.Ireland has now more resources available for all sorts of social, cultural and environmental initiatives than Belgium does.
At first Ireland was been funded by the E.U.The aim of this funding was to "make the economy of Ireland better".In 2002 E.U. stoped funding Ireland because of this rapid and excellent economic growth the country had...

Ireland is now one of the most prosperous countries,tyrkey's economy is growing rapidly,belgium also,china's economy grew 11.5% in first 9 months...
Maybe we should all wonder...Is Greece going to do anything???