Republic of Ireland: Caged tiger
After 10 years that saw Ireland transform itself into one of the richest economies in Europe with astounding annual growth rates of up to 10%, the chill winds of recession have arrived. The celtic tiger that roared for a decade has been silenced. Irish law firms now face an altered economic landscape. In an attempt to invigorate struggling financial institutions, the Irish Government was one of the first to resort to exceptional fiscal measures such as a state-sponsored scheme to guarantee all deposits in - and liabilities of - Irish credit institutions.
A year after the recession took hold and rendered the Celtic Tiger clawless, Ireland’s local law firms tentatively voice hopes for recovery. Friederike Heine reports
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