There are many other differences as well - scale, size of GDP, diversity of infrastructure and industries, current level of public indebtedness.  Let's not become uni-factorial about this.  Just as the Celtic Tiger wasn't solely caused by EU subsidies or low corporate taxes, neither will Ireland's recovery now be solely down to the Euro or the ECB.  My argument with McWilliams is that I see it as a positive factor, whereas he sees it as a negative one.  Neither of us would claim it is the only factor.

notes from no w here