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Ireland 'needs All-party Rule' To Ride Out The Financial Storm

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Ireland needs a national emergency government bringing together all major parties to counter the Republic's worsening economic crisis, a leading economist urged this weekend.

Sean Barrett called for Fine Gael to be brought into the present coalition comes as former Taoiseach Garret Fitzgerald claimed that Ireland was suffering more than any other economy in Europe. He agreed with Barrett's argument that the main policy tool the current Fianna Fail-led administration could use to cope with the crisis was to control and cut public expenditure.

Barrett, who has advised Irish governments on economic policy since the 1980s, also predicted that the present downturn would last at least three years. In a gloomy prognosis, he said that one in 10 of the Irish workforce will be on the dole by the beginning of 2010. Gross domestic product would fall in 2009 by five percentage points, he estimated.

He pointed to the de facto "national government" in 1987 when the then Fine Gael leader Alan Dukes launched his "Tallaght Strategy", which effectively declared a political ceasefire with Charles Haughey's government and allowed it to drive down Ireland's crippling public sector deficit without any major opposition. Over 18 months debt as a proportion of GDP fell from 21 to just under 4%.

Talk of a national emergency govt, the boom has created on hell of a bust.

I just hope if we have one in the UK Ponzi Brown will not be the leader, hopefully his own incompetence will be there for all to see and he'll be removed.

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Ireland is a funny old place.

After Iceland, they're the laughing stock of Europe financially. Not only that, but they have a huge budget deficit and the **** is falling out of the jobs market with unemployment doubling in just over a year. You'd think that house prices would be getting gubbed over there. Nope, you're still looking at £400k for a liveable 3 bed semi in an ok part of Dublin :blink:

Unfortunately, we're only marginally less ******ed over here :huh:

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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