In recent days the Irish government has been facing a financial crisis, and has had to look to the EU for aid. The European Central Bank and the IMF are reportedly preparing to make available a sum of 85 billion euros (US$113 billion).
Ireland was once held up by the Chinese Nationalist Party (KMT) as an exemplar of economic development. In early 2006, the pro-China press in Taiwan, the mouthpiece of the KMT, touted the success of Ireland, asking why Taiwan couldn’t achieve success in the same way. It was a weapon with which to attack the cross-strait policy of the Democratic Progressive Party (DPP), in power at the time. Then-Taipei mayor and current President Ma Ying-jeou (馬英九) made a study trip to Ireland and, on his return, declared the Irish Experience a model for economic development.