COMMENT: Sorry, real Ireland, you're low on list of government priorities

Summer statement ignores quantitative easing that makes our debt affordable, writes Constantin Gurdgiev

"The state is now back into running a pro-cyclical fiscal policy: spending when economy is booming". Pic:

After the lavish promises of some €2-3 billion worth of goodies during the elections, the government’s Summer Economic Statement, published today, reads more like a ‘valiant climbdown’ from the political campaigns highs.

With one billion euro of fiscal space available, the statement reveals the real hierarchy of government’s priorities. Sorry, real Ireland, you are low on that list.

“Economic recovery is now firmly established,” reads the top line of the document, conveying a ...