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Investor Predicts Celtic Tiger Will Roar Again

by Jason Gorringe, Tax-News.com, London

05 September 2011


Ireland will emerge from economic crisis ahead of other eurozone countries, one of the country's key investors has predicted.

Wilbur Ross, chairman of WL Ross & Co., made the comments during a radio interview on Bloomberg Surveillance. Ross is among those investors holding a 34.9% stake in the Bank of Ireland.

He said that he expects Ireland to "be the first of the euro countries to recover because they really bit the bullet".

Indeed, the government is continuing to "bite the bullet", with Finance Minister Michael Noonan in the process of drawing up a budget plan that will see at least two years of tax hikes and changes to the tax and fiscal systems.

Ross added that, "once they get through all that, the fundamental advantages of Ireland are still intact". He even went so far as to predict that "Ireland will once again become a Celtic Tiger".

TAGS: tax | investment | economics | Ireland | fiscal policy | banking | budget | tax reform

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