How the celtic tiger won its stripes

The remarkable growth of the Republic of Ireland's economic performance is evident in the annual growth of its Gross Domestic Product since the 1990s. Macroeconomic stability leads the factors contributing to the Irish economy's success. The basis of such stability includes low inflation, responsible monetary policy and moderate pay settlements. The cooperation between the government, trade unions and employees as social partners also contributed to the success. However, the country's membership to the European Monetary Union is seen to require certain economic policy changes.