We need to stay the course because there are no shortcuts to recovery
Snake-oil solutions to our economic woes will muddy the pre-election debate on Ireland Inc, says Colm McCarthy
Published 02/01/2011 | 05:00
THE New Year will likely see a new government and the opportunity to consider whether there are fresh approaches to economic policy which might improve the pretty grim outlook for the Irish economy. Peddlers of snake-oil solutions tend to surface on these occasions and it is useful to run through a list of policies which won't work, or which could even make things worse. Expect all of them to be promoted vigorously over the next couple of months.
Why not leave the euro?
Some people seem to think that Ireland still has a currency and that it could be devalued or hitched to some weaker alternative, such as sterling or even the dollar, thus providing a softer option through a painless boost to competitiveness.