Feeding the Celtic Tiger

April 19, 2005

The US-Ireland Alliance and Rasky Baerlein Strategic Communications hosted well-known Irish economist, Danny McCoy, who spoke to audiences in New York and Boston on the topic of Ireland's dramatic rise from a poor country to one the richest in less than two decades. Ireland's economy, often referred to as the Celtic Tiger, has become a model many other countries wish to emulate. In January, the chief economist for the Bank of Ireland reported that, on a per capita basis, Ireland is now wealthier than the US -- an incredible turn-around for a country that, 20 years ago suffered from a staggeringly high unemployment rate. A low corporate tax rate, and a well-educated, English speaking workforce has made Ireland the base of more than 500 American corporations.

Mr. McCoy, the Editor of the high profile Quarterly Economic Commentary for the Economic and Social Research Institute in Dublin, explained the reasons for Ireland's success as well as the challenges it faces in sustaining its position in the global economy. Ireland is now one of the 10 largest foreign direct investors in the US and is responsible for nearly as many jobs in the US and US multinationals are responsible for in Ireland.

Mr. McCoy, a former economist in the research department of the Central Bank of Ireland is one of the foremost commentators on the remarkable growth experience of the Irish economy - a subject upon which he has consulted for the Irish Finance Ministry, the European Commission and the OECD. He is also Ireland's representative on the European Central Bank's panel of professional forecasters. An article by Mr. McCoy, entitled "The Pluck of the Irish" appeared in the March issue of Worth

Rasky Baerlein Strategic Communications, sponsor of the event for the Alliance, provides clients an extensive range of services such as media relations, crisis management, public affairs, government relations and marketing communications. Clients are established companies, start-ups, trade associations and coalitions across industries including energy, environmental services, financial services, technology, healthcare, hospitality, sports, and real estate. Headquartered in Boston, MA, the firm has a satellite office in Washington, D.C.