Celtic Revival?

Kay (NATO and the Future of European Security) deftly synthesizes economics, history, sociology, and his own extensive interviews with artists (Sinead O'Connor), former heads of state, and the average person on the street (or in the pub) in order to understand the causes and effects of Ireland's recent religious, political, and economic meltdown. He addresses issues such as Ireland losing revenue from artists like U2 operating their businesses abroad in order to escape paying taxes in Ireland. According to Kay, Ireland needs every penny of that money if it is to get back on the road to recovery. He debunks the idea that Ireland's woes were caused by problems in the U.S. economy, arguing that Ireland's problems are the result of bad policy, weak regulation, and unethical behavior by bankers and politicians. The evidence presented in this in-depth and fascinating book is deeply disturbing. Still, Kay maintains, the Irish will bounce back as long as they remember the lessons they've learned since the Celtic Tiger died its long, painful death. (July)