End of the Oilocene: The Roar of the Oil-Fizzle Dragon King

Source: Feasta

“Ireland’s policymakers exist in an insulated bubble; congratulating themselves on reducing the debt-GDP ratio and high employment due to the sleight of hand of low corporate tax rates, ” writes Tim Clarke,. He argues that Ireland is hugely vulnerable to a global financial downturn triggered by energy shortages: “Talk of a ‘Celtic Phoenix’ excites dull short memories, and another property bubble is in the making.”