Lessons to learn after a lost decade

Ireland’s over-reliance on the construction sector in 2007 left the country in a very vulnerable state

Ireland does not do normal when it comes to economic growth. The country has a long history of episodes of vigorous growth being followed by a painful reversal. The past decade has been the most notable example of this.

An economic collapse unsurpassed by any other European economy bar Greece has been followed by an impressive rebound over the past four years.

As a result, the volume of domestic spending looks set to ...