What’s Ireland grinning about?
Posted by Stephen Cline on May 26th, 2010The recent Greece Economic crisis and the European meltdown has suddenly made the ministers of Ireland happy. It has welcomed the fall of the European economy with open hands sectretly. The lingering Irish economy will benefit from this fall by an increase in exports along with trade in general and additional revenue through tourism. The weakness of the Euro has been as a booster dose to the small Irish economy.
Already the falling euro has given Ireland 6 billion Euros in trade and has given hope to the Irish people about a growth this year. Since more than 80% of the Ireland’s GDP is provided by exports, the increase in revenue through this is a golden opportunity and a silver lining to dark clouds. Hence this fall in the European markets has created new jobs in the Irish states and made everyone happy. This has given Ireland to recuperate and start managing its resources better so that it can face the global economy once the euro is back on its feet.
Since the fall in euro has led to reduction in travelers going abroad, most of the travelers prefer to visit their own country. This has increased tourism in the Irish state.