Some hope in Europe
TODAY we will see the first contours of a new government begin to emerge as the page is turned on the 30th Dail. Few will be sorry to see the back of this administration but what we need more than recrimination is a positive sign that things can and will be better.
One such sign came yesterday from Antonio Borges, the IMF's new director for Europe. Mr Borges believes that a stronger focus on rebuilding competitiveness can restore growth and create new jobs across the eurozone. He points to freeing up capital flows, through deeper financial integration, as a means of finding solutions to some of our economic woes.
He rightly suggests that speeding up the reallocation of resources is a priority. Growth in Germany and a number of other EU countries can be the engine of recovery, he believes.