Friday 24 March 2017

Still too early to get wildly excited about the light at end of the tunnel on our economy

Finance Minister Michael Noonan has suggested that things are finally picking up
Finance Minister Michael Noonan has suggested that things are finally picking up
John Downing

John Downing

'Thanks to new-found hopes of economic recovery, the light at the end of the tunnel – extinguished to save energy in autumn 2008 – has now been switched back on."

Let us take the rest of the "light in the tunnel jokes" as read and move swiftly on to two simple questions: Why are so many people talking about an easy enough Budget next October as a staging post to imminent economic recovery? Why is everything in the Irish economy all so rosy all of a sudden?

Two of the three agencies that did economic supervision over this nation in the economic bailout from November 2010 until December 2013, the EU Commission and the International Monetary Fund, have counselled extreme caution.

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