Strategy cannot afford to fail, warns Goldman chief
Published 06/11/2010 | 05:00
IRELAND must adopt a robust and clear Budget strategy if the country is to avoid intervention by the IMF, the chairman of Goldman Sachs International has warned.
Speaking at the University of Limerick yesterday, Peter Sutherland said he was happy the Government had decided on a €6bn savings package for 2011. The former Irish Attorney General and EU commissioner highlighted the dangers facing the country if the Budget failed, or if there was a prolonged period of uncertainty regarding the formation of a government.
He said any intervention by the IMF and the EU in taking reins of the Irish economy would represent a failure of our political system to face up to the challenge posed by the deficit in our public finances.