Saturday 27 May 2017

Only one captain can steer us clear

The first week of election 2011 was surrounded by a strange air of unreality. As Fine Gael and Labour vied with each other to list out the taxes they would not raise it almost sounded like the reincarnation of the era of the Celtic Tiger.

Mr Gilmore, meanwhile, warned Europe that he didn't want to go to war with them, but unless they agreed to his restructuring plan then 'by jingo but [he] will', whilst Fine Gael was equally bullish with its proposals to invest €7bn of our National Pension Reserve Fund on infrastructure.

We will give FG credit for having an actual economic plan and for its open recognition that we cannot tax our way to recovery. The ominously stagnant state of our own internal economy also means there is merit behind the Labour proposal to extend the period for restructuring our national finances to 2015.

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