The risks to Ireland come from outside

Ireland should run a cautious and conservative fiscal policy for the foreseeable future.

21st September, 2014
Mario Draghi, president of the European Central Bank: revising estimates downwards. Picture: EPA

When you follow the Irish discussion about the budget from abroad, it looks as though depression has given way to euphoria.

Things have been getting progressively better. First there was the deal on promissory notes. Then came the decision to exit the European stability mechanism without a backstop. Then came the request to repay the loans from the International Monetary Fund early. It looks as if Ireland is in a hurry to exit from the...

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