Analysis
Economy

The real story behind Ireland’s “Leprechaun” economics fiasco

Over the past few days we have learned much about the true story behind Ireland’s so-called “Leprechaun” economic figures. Senior civil servants and ministers were blindsided by the astonishing 26% economic growth figures for 2015 from the Central Statistics Office (CSO) – issued on Tuesday of last week. Many of the mandarins found out after the media, who were given the information under embargo 30 minutes in advance of publication at a press briefing. Previously the CSO gave ministers and senior …

Meaningless economic statistics may cause problems

Ireland’s economy grew by more than a quarter last year – according to official statistics. But should we believe them? The straight answer is that they have been so badly distorted by activities by multinationals they are rendered meaningless. Aircraft bought by leasing companies, multinationals moving assets to Ireland and corporate restructuring have resulted in a dramatic increase in the size of the economy. The figures show the economy grew by a remarkable 26% last year in terms of Gross Domestic …

Parallel Lines

Ireland and Britain are politically very different – different electoral systems, different parties, different issues. And yet, for the past two decades, we and our neighbours have seen extraordinary political parallels. In 1997, both countries got youthful new leaders, who brought about fundamental change in traditional party attitudes – Tony Blair changed Clause IV of the Labour Party Constitution, which committed the party to public ownership of the means of production, distribution and exchange; Bertie Ahern changed Articles 2 and …

Pokémon Go – what’s all the fuss?

By Will Goodbody, Science & Technology Correspondent If you haven’t already, you should expect to hear a good deal about Pokémon Go over the coming days and weeks. It hasn’t even officially arrived here in Ireland yet, but already it’s getting a phenomenal reaction in the places where it has been launched. That will undoubtedly lead to it also becoming a huge hit when it arrives on Irish shores too. So what is Pokémon Go? Made by the Japanese company …

“the long goodbye”?

It must be the silly season – people are talking about whether Ireland should rejoin the Commonwealth. This notion is a hardy perennial of the summer school circuit, where the great and the good gather to ponder, pontificate and proselytise. Let them at it, it’s fairly harmless. If I run out of things to blog about, I might even discuss it at some point. But for the moment, let’s just say it’s not going to happen, whatever Frankie Feighan and …

Juno’s mission to Jupiter explained

By Will Goodbody, Science & Technology Correspondent Over the next few days, indeed months, you are likely to hear quite a bit about a spacecraft called Juno and its mission around Jupiter. It’s an exciting project, which could yield many answers to questions about the origin of the planet, and of the solar system as a whole. After a five year journey, NASA's spacecraft Juno will arrive at Jupiter early tomorrow morning.https://t.co/mtp1f1Tie3 — RTÉ News (@rtenews) July 4, 2016 Why …

Counting the cost of Brexit for science

By Will Goodbody, Science & Technology Correspondent “It’s a disaster”. That was Nobel Prize winning physicist Peter Higgs’ response when I asked him for his reaction to the result of the Brexit referendum, just hours after it was delivered last Friday. And he wasn’t alone in his views. Indeed a few weeks earlier, Professor Higgs had been among 13 Nobel Prize winning scientists who had warned losing EU funding of science would put British research “in jeopardy”. “Inside the EU, …

Five issues to watch after the Brexit bombshell

The Single Market Perhaps the biggest issue facing Ireland and the UK following the Brexit vote is the ability of Britain to retain access to the Single Market. This allows for the free movement of goods without the imposition of tariffs. German Chancellor Angela Merkel has warned that Britain cannot cherry pick the benefits of the EU without making its own contribution. “Those, for example, who want free access to the Single Market,” said Ms Merkel, “will in return have …

Brexit Britain … where next?

London on Thursday was hammered with rain. Not just a few summer showers but full on downpours. Tube lines were flooded. Train lines were closed. Traffic ground to a standstill. The glass tower of The Shard building disappeared from view. Two polling stations in Richmond were moved due to flooding. It was, in retrospect, a dramatic backdrop to the decision of voters that day to end Britain’s membership of the European Union. The United Kingdom and the rest of the …

Britain votes to leave EU: What does it mean for Ireland?

Politically, socially and economically the decision of the UK to leave the European Union will have huge ramifications for Ireland, writes RTÉ Business Editor David Murphy. But the most immediate impact will be felt by Irish businesses and their employees. Sterling Sterling is falling rapidly against the euro and fell 8% in the hours after the result became clear. It is safe to assume sterling will remain very weak for a considerable period. That will make Irish exports to the …

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