The Irish Experience: Fiscal Consolidation 2008-2014

This paper provides an analysis of the fiscal consolidation undertaken in Ireland during the period 2008-2014. Consolidation was a response to the collapse in Ireland’s finances provoked by an unprecedented financial crisis, bursting of the property bubble and unsustainable fiscal policies undertaken during the decade leading up to the crisis. Eight years after the beginning of consolidation, the economic and fiscal landscape has completely changed. This paper intends to add value by producing a multi-faceted assessment of the fiscal consolidation undertaken in Ireland from 2008 to 2014. This is important to understand whether the Irish consolidation episode can be considered successful and which policies have contributed to the outcomes observed. 

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