Tuesday 25 April 2017

Our future hangs on a vital vote for stability

The experience of Greece and Portugal proves how political instability can undermine confidence. Reuters
The experience of Greece and Portugal proves how political instability can undermine confidence. Reuters
Editorial

Editorial

The US economist Paul Krugman wrote: "For most Americans, economic growth is a spectator sport." There are many in Ireland who might make the same argument but even the most begrudging would have to accept that after the worst recession we have ever seen, the economy is finally going in the right direction.

That does not entitle our politicians to go on victory parades or conduct laps of honour: the improvement was achieved by the hard industry and sacrifices of the workforce. The Coalition's stewardship was commendable but the bouquets, such as they are, should go to all who worked longer hours for less pay and accepted tax increases and levies as a painful fact of recessionary life. There has been an improvement in the State's finances and the economy is stabilising, but once more, yesterday, concerns were expressed by employers that prolonged post-election instability could hit progress.

"Irish business can create a further 60,000 jobs in 2016, but hiring plans could be threatened if the election results in an unstable or anti-enterprise government," Ibec chief executive Danny McCoy warned.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Don't Miss