The Asian financial crisis occurred almost a decade ago, yet who can forget how rapidly it swept around the globe; knocking down currencies, shaking up markets, spreading to other emerging-market economies, and throwing many into a tailspin. Demand for commodities contracted sharply during the Asian crisis, which eventually led to a dramatic decline in many world commodity prices.
The rest is up to us, the Irish policy makers and the Irish people, to complete the recovery of the economy – which has been on a persistent growth path both in terms of output and employment for the past three years – and to rebuild the economic aspects of Irish society in a way which fully resonates with our shared vision and goals.