Author name: Patrick Devaney

Patrick Devaney is a second year student at the National University of Ireland, Galway where he is studying economics and political science. Patrick was born in 1993 and during his childhood years, the Celtic Tiger ‘’boom’’ times were beginning to take off. The foundations of a society that lived lavishly and to great excess were being laid. Unfortunately, these foundations were built on quick sand and by 2007; the beginning of the end had begun. With decisions about his future looming as the problems escalated, Patrick made the choice of studying about what went wrong in my country: economically and politically. With both of his parents threatened with redundancies in the last few years, Patrick's own hopeless job searches and experiencing the day-to-day pressure of these austere times, he has lived through the hardest times we have known since the Great Depression – and we’re not even sure how much long this could possibly go on for. Through his blog on Inspired Economist, he hopes to be a voice for common sense and conscience in a time when so many economic decisions are ill-chosen for a variety of reasons to the detriment of the public.

Borrowing costs plummet for Ireland as re-entry into the markets gathers pace

International, Investing, News / By

On Wednesday morning, September 12th, the Republic of Ireland hosted only it’s third bond auction since entering an EU-IMF bailout program in 2010. And while the other two auctions were noted as very positive developments for the eurozone member, this newest advancement smashed all expectations in a magnificent result for the country. The yield was […]

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Irish road to recovery continues with further prosperity in the bond market

International, News / By

Ireland’s nine year bond yields closed below 6% for the first time since  October 2010. The country’s yield dropped to 5.97%, the lowest level in 22 months and almost two years on since the beginning of their EU-IMF bailout program. This welcome development is particularly useful as it comes ahead of the Irish National Treasury

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The secrecy of Standard Chartered’s Iran transactions

News / By

On August 6th, the English bank, Standard Chartered, was accused of being involved in illegitimate transactions with Iran worth up to $250bn. Two weeks later, with an investigation continuing, the financial institution was fined $340m and has had terms attached to its punishment, most notably having a monitor permanently installed in the New York branch

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Europe edges closer to recession and indirectly poses dangers to the US

Corporate Politics, News, Policies / By

Europe is on the verge of plunging into a double dip recession. As the debt woes of the 17 eurozone countries continues to threaten any growth emanating from the continent, it looks more likely that the 27 country strong European Union will regress economically rather than progress. Eurostat, Europe’s official statistics agency, disclosed that the

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Success for Ireland in bond markets as first long-term bonds are auctioned off

International, Investing, News, Policies, Sustainable Development / By

The theme of the Irish economic rehabilitation continues as the country has successfully staged an auction to sell long-term bonds to investors. This is the first time the island has been able to do such an operation since entering the EU-IMF program in November 2010. In total, €5.2bn was raised, with €4.19bn of that money

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Justice on the horizon for Ireland as bankers are finally held accountable

International, News / By

If a week is a long time in politics than a day is a long time in banking. Within the space of 24 hours, three former senior executives at Anglo Irish Bank were arrested and charged in connection to financial irregularities at the bank. The bank (now known as the Irish Bank Resolution Corporation) is

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Europe’s turning point on the way? Stimulus finally comes to Ireland

International, Investing, Jobs, News, Policies / By

Albert Einstein once said ”Insanity is doing the same thing over and over again and expecting different results.” That quote definitely applies to the political leaders of Europe. Almost half a decade on from the inception of the global financial crisis, they have doggedly stuck to their failure of a policy that is austerity. And

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Irish Media Downplayed Red Flags as Country Descended into Economic Turmoil

Corporate Politics, International, News / By

As recently as 2008, Ireland was ranked the highest western nation in the conservative think tank Heritage Index of Economic Freedom (ranked primarily based on low corporate taxes and deregulated financial markets). As the Irish economy began its self-destruction back in 2007, the fears of the Irish people that it would turn into a dangerous

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