Sunday 21 January 2018

Everyone knows we can't bear the bailout, so why not renegotiate?

A tough government stance will help to restore crucial public confidence, writes James Fitzsimons

James Fitzsimons

THE productivity of Irish workers is among the highest in the world and our labour costs have fallen. We are ready to work our way out of the financial crisis. We can achieve the labour market efficiencies that the EU/IMF require under the bailout.

During the week Paul Sweeney, the Ictu economist, said we need to boost public confidence. Those who have money are afraid to spend it for fear of what has yet to come. With the huge amount of debt hanging over us, the general public needs to see something positive happening to lift the burden.

The Government's Jobs Initiative is a positive start but we need more -- €2bn could be taken from what's left of the National Pension Reserve Fund to get employers back on their feet and help get people back to work.

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