Will Ireland Become The World's Richest country?
While the U.S housing bubble burst in 2007, sending the world into a recession, Ireland was one of the countries hit hardest. It had the largest real estate bubble in the world, with housing prices falling a staggering 56 percent. Defaults Nationwide caused Banks to go into crisis, and layoffs were rampant. The Irish economy shrank by almost 25 percent, and it was on the verge of total collapse. The Irish government secured a 67-billion-dollar bailout from the International Monetary Ireland is currently the second richest country in the world. In the last eight years, it has surpassed larger nations such as the U.S. and rich nations such as Qatar. In 2021, Ireland had a GDP per capita of $111,590, but based on everything we know about economics, this should not have occurred.