Thursday 8 December 2016

Richard Curran: The 10 things that could go wrong with Ireland's economic recovery

This recovery is great ... so what can possibly go wrong?

Published 09/01/2016 | 02:30

Public Expenditure Minister Brendan Howlin TD and Finance Minister Michael Noonan are all smiles breaking good news on the End Year 2015 Exchequer Statement – but there are many external threats to our upturn in fortunes. Photo: Gareth Chaney/Collins
Public Expenditure Minister Brendan Howlin TD and Finance Minister Michael Noonan are all smiles breaking good news on the End Year 2015 Exchequer Statement – but there are many external threats to our upturn in fortunes. Photo: Gareth Chaney/Collins

The year is barely nine days old and already there appears to be a wide gulf between the story of Ireland's continued economic recovery and the upheaval and turmoil brewing beyond these shores. Michael Noonan and Brendan Howlin presented another set of stellar exchequer figures this week, which showed the State took in €3bn more in taxes than expected in 2015.

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Meanwhile, over in Shanghai a selling surge prompted the suspension of trading on the stock exchange. Serious economic and geopolitical risks surround us, from the Middle East and Isil to Brexit, Vladimir Putin and even Donald Trump.

As we know from the September 11 attacks in New York, a political event can have huge economic ramifications. And as everyone learned from the financial crisis to the bank guarantee, an economic problem can too easily become a political one.

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