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Ireland economy’s phenomenal growth during 1993 to 2007 (also known as “Celtic Tiger”) was largely based on the success of the economic model driven by factors such as banks providing cheap credit, low cost base, educated work force etc. With Ireland’s entry to European Union (EU), many foreign companies established their businesses in the country. In a bid to promote foreign inflows, Irish Government introduced favourable tax structure for international transfer pricing, liberal taxation policy etc. Irish wages grew 5 times faster as compared to that of European Union from 1997 to 2007. New banking model introduced by the government by the name “originate to distribute” (a process that allows banks to increase their lending base without violating the government norms.