As economic growth surges ahead we can rightly take pride, and hope, from the national recovery. But past experience shows that being out of step with Europe, especially with Germany, brings dangers.
We go in for lots of hand-wringing here about failures within Ireland in the run-up to the crash. Rightly so, but it means we overlook the external factors that inflated the bubble.
The biggest of those was the mismatch between low interest rates, which suited Germany and other, at the time, sluggish economies, and high growth at home that should have been cooled.
Give or take seven lost years, mass unemployment and a debt crisis, we are getting back there.
So it's important to remember how cheap loans, available after we joined the euro, led directly to the Irish bust, blowing robust growth up into a monstrous bubble. Back then it was Irish banks and house buyers that sucked cheap debt into the economy, but it spewed out from Frankfurt, and interest rates set by the ECB.
Today banks and households are closely monitored. But under the radar is the rapid growth in so-called "non-bank" lending, while footloose US investment funds today dominate aspects of the Irish economy in much the same way house buyers did before the crash.
We know very little about how those two important factors will play out over time, and seem to care less.
We do know that before the crash low interest rates, set to suit big economies such as Germany and France, were dangerously unsuited to a fast growing economy here.
Now we are growing quickly again but, thanks to slow growth in "core" Europe, official interest rates are lower than ever. Hold on tight.