Ireland ranks among the wealthiest countries in the world in terms of GDP per capita.[11] After joining the European Union (then called the European Economic Community) in 1973, Ireland enacted a series of liberal economic policies that resulted in rapid economic growth. The country achieved considerable prosperity from 1995 to 2007, during which it became known as the Celtic Tiger. This was halted by an unprecedented financial crisis that began in 2008, in conjunction with the concurrent global economic crash.[12][13]
Although still recovering from its economic crash, Ireland remains one of the world's most prosperous nations. In 2011 and 2013, it was ranked as the seventh-most developed country in the world by the United Nations Human Development Index.[14] Ireland also performs well in several metrics of national performance, including freedom of the press, economic freedom and civil liberties. Ireland is a member of the European Union and is a founding member of the Council of Europe and the OECD. It pursues a policy of neutrality through non-alignment and is consequently not a member of NATO,[15] although it does participate in Partnership for Peace.