For 12 years, the Irish Economy, dubbed the Celtic Tiger grew and grew until the giant credit and property bubbles burst in 2007, leaving the country struggling and in need of a bailout. The past 7 years have meant austerity measures, high unemployment and tumbling property prices. The Irish Economy has started to grow again and it is anticipated that it will grow again in 2015. Official figures show a 1.5% increase in gross domestic product (GDP) in the second quarter of 2014 which pushed the annual growth rate to the highest in the EU. However, despite this news, Terrence McDonough, a Professor of Economics at NUI Galway says there is a long road ahead.