Who shot the tiger?

Februar 23, 2011

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The Celtic Tiger

The line graph “Who shot the tiger”, which was published by the Central Statistics Office Ireland/ Central Bank of Ireland, is about the change of the gross domestic product of Ireland in the last 25 years. On the x- axis is a timeline from 1985 to 2010 and on the y-axis are the numbers from -12 to + 12, which describe the change in percentage. From 1985 to 1987 the GDP raises from 0 up to 4, but after that it falls again to circa 2 in 1988. Than the GDP changes up to 6 in year in 1990, but then it falls again to 2 in year 1991 and increases just a little bit up to 3 in year 1993. From that point the graph swells to 6, but falls than again, that it reaches in year 1995  again 0. And now it happens what is called the Celtic Tiger. Through capital investment, pro business government and costs of labour, which are lower than in other European countries, the graph rushes from zero up to circa 10 in only two years. After that it falls just a little bit and increases again up to 10. But in 2000 the GDP drops rapidly to nearly less than 4 and in 2002 the graph also raises just a little bit to 6. But in year 2007 the gross domestic product changes fatally and falls down to -10. This is the end the Irish Celtic Tiger. The forecast claims, that in future the GDP will increases again up to positive numbers. The reason for the sudden fall in 2007 was an inflation for instance of high house prices and the effect of that was, that the people could not pay for their credit and so that they became unemployed.