The Republic of Ireland has experienced remarkable economic growth in recent years, earning the country the title of the 'Celtic Tiger'.

Its economy has expanded at an annual inflation-adjusted rate of more than 7% since 1995, when growth peaked at 10.4%. Estimates for economic growth in Ireland for 1998 suggest that the economy grew at a rate almost three times greater than that of the economic & monetary union (EMU) level of 2.6%.

What is the source of this economic success and what, if anything, jeopardises this growth continuing? One important factor is the outlook for the Irish economy in the uncharted waters of a single monetary policy system.