Tuesday 16 January 2018

Facing up to a changed reality

THE year just ended will be long remembered for the European Union and International Monetary Fund bailout; the year in which a political crisis accompanied a banking meltdown and an economic disaster; the year in which a Government lost all authority and credibility and furious citizens expressed a lack of confidence equal to that of the international institutions.

But the story of 2010 is not one of unrelieved misery. It had positive aspects too.

Once again, we have mass unemployment and emigration. But we still have an economy. It was a terrible year for one traditional industry, tourism, but it was a terrific year for another, agriculture. Exports of goods and services boomed -- both by strong indigenous companies and multinationals.

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