Ireland has beaten the US to the top of a leading German "success index" of the economies of 21 countries.
The index, compiled by the Bertelsmann Foundation and measuring economic data over 18 years, also put Ireland ahead of Australia, Norway and Austria, the other top five countries.
The report contained a healthy dollop of Schadenfreude for the Irish, with Germany coming last thanks to low growth and high unemployment. "While most countries have sometimes \ remarkable success with the battle against unemployment and registered economic growth targets, the large continental countries such as France, Italy and Germany are on the spot," said Mr Heribert Meffert, president of the foundation.
Ireland was head of the 21 countries with a per capita income of $38,150 (€30,700) and made a dramatic 14-place jump to third in the index of income make-up. Ireland was also top in production potential, jumping 146 per cent between 1990 and 2003.
The ranking was produced by creating a "success index", comparing OECD data on employment market, per capita income, and potential growth. A second "activity index" grades countries on measures to encourage employment and growth. The final index is graded in points between 0 and 120. Ireland scored 111.
Bringing up the rear in almost every index with just 66 points overall - well below the 80 point "danger zone" - was Germany.
It was dragged down by a per capita GDP of just €27,000 and potential growth of just 1.6 per cent. "Germany really has to considerably increase its reform efforts if it is not to lose out long-term," said Mr Meffert.
