Privatisation in Ireland

Privatisation has been an important instrument of economic policy for over 30 years. It has proved to be immensely controversial and has provoked extreme reactions from its advocates and opponents alike. But what can be learned from the privatisation experience to date? This book seeks to answer this question by drawing lessons from the experience of Ireland. It shows how the Irish government withdrew from activities such as telecommunications, aviation and banking, and identifies a number of key decisions that have soured the privatisation experience. For example, the decision to fully privatise the telecommunications industry has had disastrous consequences for the creation of a modern information economy. This volume draws attention to the winners and losers from privatisation policy and pays particular attention to employees who have accrued large financial gains as members of employee share ownership plans. It highlights the continuing important role of public enterprises in Europe and shows how this has increased dramatically following the global economic crisis of 2008. This book is essential reading for all interested in the Irish economy, privatisation, public finance, public sector reform and European economic issues.