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The state, initially the Irish Free State, was established on 6 December 1922 as a dominion within the British Commonwealth as a result of the Anglo-Irish Treaty, which concluded the Irish War of Independence. It gained increasing sovereignty through the Statute of Westminster and the abdication crisis of 1936. A new constitution was introduced in 1937 declaring it as an entirely sovereign state, simply named Ireland. The last formal link with the United Kingdom was severed in 1949 when the Oireachtas (national parliament) passed the Republic of Ireland Act, which declared Ireland a republic by removing the remaining duties of the monarch. Consequently, Ireland left the then British Commonwealth, having already ceased to attend Commonwealth meetings since 1937. During British rule and initial independence, Ireland was one of the poorest countries in Western Europe and experienced high emigration. But in contrast to many other states in the period, it stayed financially solvent and remained a democracy. The protectionist economy was opened in the late 1950s and in 1973 Ireland joined what is now the European Union. An economic crisis led Ireland to start large-scale economic reforms in the late 1980s which led to widespread emigration. Ireland reduced taxation and regulation dramatically compared to other EU countries. The rapid growth of the economy during the 1990s saw the beginning of unprecedented economic growth in the phenomenon known as the "Celtic Tiger". However, the financial crisis of 2007 2010 significantly impacted the Irish economy. Ireland is ranked as the 38th economic power in the world by the IMF and is one of the most developed countries. In 2006 Ireland had the sixth highest nominal gross domestic product per capita (ninth highest per capita considering purchasing power parity). The country is ranked fifth in the Human Development Index, and has one of the highest qualities of life in the world, ranking first in the Economist Intelligence Unit’s quality-of-life index. Ireland is ranked sixth on the Global Peace Index, ranked first for press freedom and ranked fourth for economic freedom. The state also has high rankings for its education system, political freedom and civil rights. The country is ranked fifth from bottom on the Failed States Index, being one of the most sustainable states in the world. Ireland is also a member of the OECD, the WTO and the United Nations. |
