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GY331 Geographies Of The Crisis And Recovery Assignment Example Maynooth University Ireland

The financial crisis in Ireland began with a period of rapid economic growth, followed by a property market collapse. The downturn led to the Irish banking system being bailed out and an international bailout fund being set up.

The economy fell into recession, with an increase in unemployment and emigration. The Irish government – which had come to power in the wake of the crisis – implemented austerity measures in response to the European debt crisis. Unemployment peaked at over 15% in late 2012 and early 2013; it has since fallen to 8.9%.

The module’s objective is to introduce students to the current global financial, economic and political crisis, and to examine the differential impact of this crisis on countries and regions in Europe and beyond. This module considers how and why particular geographies have been at the center of the crisis, with a focus on Ireland. It examines some of the causes of the global financial crisis, its impacts, and attempts at dealing with it, i.e., austerity measures, international trade agreements, etc.

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Learning outcomes GY331 Geographies Of The Crisis And Recovery Ireland

At the completion of this module, students will be able to:

Critically assess the construction of an ‘Irish’ crisis, its causes, impacts, and solutions

It is a well-known fact that Ireland was hit by an economic crisis, and it’s been going on for quite some time. What many people don’t know though are its causes or how to fix this situation as it affects all aspects of life there such as jobs being lost due to their company’s bankrupting because they made poor financial decisions with funds from investors who thought everything would turn out just fine but instead saw millions flowing away down the drain without any hope left at return, shops shutting down and people losing their homes.

It was not long ago when Ireland led all of Europe in terms of the most competitive country. A lot of people were moving to Ireland to seek employment opportunities, but after the crisis, it’s hard for many Irish citizens to find work that pays enough money to pay their bills and put food on the table for their families. It seems like every day there is another problem arising that seems to be the final nail in the coffin for this country.

Examine some key spatial aspects of the crisis in Ireland, including geographical patterns of employment decline across regions, commuter migration trends to/from Dublin, urban-rural inequality, and housing markets

Ireland is divided into administrative regions called counties, which are further divided into towns and cities. The central region of the country, including the capital Dublin, has benefitted more than any other region from foreign investment and economic growth. This has led to a high population density in this area resulting in high demand for housing which in turn made Dublin one of the most expensive cities to live in, until the recent economic downturn.

The crisis affected different regions of Ireland at different times and with varying intensities. The South East region, which includes Waterford and Cork, was hit first and hardest by the financial crisis as many foreign-owned businesses began to downsize and close shop after suffering major losses due to the economic downturn.

The North West region, which includes Donegal and Derry, was affected a bit later due to their close proximity with the UK where many foreign investors were withdrawing their funds from Ireland to invest in countries with a more stable economy such as Germany. This led some of those companies to relocate from those 2 locations into Northern Ireland as a way to save on transportation costs and remain close to their primary market in the UK.

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Explain the implications of the crisis for Irish society, including spatial patterns of welfare reform and social housing provision in Ireland

It wasn’t long ago that housing in Ireland was a major issue as the demand for homes increased drastically. Many people could not afford to buy their own home and if they were able to, it would take years of saving before being able to do so. In 2010, there were over 539,000 households listed as needing social housing according to the Housing Agency. These people were living in either overcrowded conditions or without a home at all.

In order to ease the housing crisis, several construction companies began building homes in both urban and rural areas which had a positive effect on the unemployment rates as more jobs became available for those seeking employment. The demand was high that many of these homes would be put up for sale quickly, often before the construction phase was completed.

The demand for social housing increased even more after many of the people who had recently bought homes were unable to pay their mortgages because they lost their jobs or had lower income due to pay cuts which led to them being unable to afford newly-built homes that they were now stuck in.

Critically assess the geographies of the crisis and recovery in Ireland by considering key concepts such as neoliberalism, financialization, European integration/globalization, and austerity

The last twenty years have seen Ireland transform from an agrarian society to one of the top countries in Europe for foreign direct investment (FDI). Many multinational corporations were attracted by the low corporate tax rates and cheap labor. The Celtic Tiger economy provided many Irish people with jobs that paid well enough to allow them to take their families on vacation abroad, buy a second property, and have two foreign holidays each year.

The Celtic Tiger economy was based on building construction which included roads, schools, IT buildings, large shopping centers, and even a new airport in the capital city of Dublin. One of its main developers was Fianna Fail along with its coalition partner at the time Fine Gael. When the economic downturn hit, many Fianna Fail voters turned against the party as they were blamed for not averting the crisis and many of the coalition partners from the other center-right parties left due to disagreement with how to deal with the situation.

In order to prevent another banking collapse from happening again, Europe brought in an EU/IMF bailout program that would transfer money from the EU/IMF to banks to allow them to repay their debts. This effectively means that European taxpayers have been put on the hook for bailing out Irish banks and this has led to a lot of resentment towards the EU as many people feel they are being over-taxed so countries such as Ireland, Greece, and Portugal can get a bailout from their mismanaged economies.

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