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.