Brendan Keenan: EU's 2014 borrowing target makes absolutely no sense
TODAY'S report from the Economic and Social Research Institute (ESRI) is one of the most important in its 50-year history.
As the main political parties reaffirmed their support for reaching EU borrowing targets by 2014, the ESRI says such a plan could plunge the economy into a period of prolonged deflation, amounting to a "lost decade".
There may well be some re-shuffling of positions today. Based on the ESRI report, it might have been better if the parties had done things the other way round -- disagreed on the deficit target, but sought consensus on the sacrifices that have to be made, whatever the target.