After the collapse of Lehman Brothers in 2008, few Western nations suffered more than Ireland. After more than a decade of being lauded as â??the Celtic Tigerâ?, the economy of the Irish Republic contracted by an eye-watering 6.4pc in 2009.
It has continued to struggle, registering several years of sluggish or non-existent growth. Ireland pulled out of recession only in the second quarter of 2013 and has since failed to stage a convincing recovery.
Perhaps, that is, until now.