“I am haunted by the fact that when you are managing a small open economy, when things go bad, they go really bad”

Paschal Donohoe has an unenviable task: keeping every public sector worker and interest group in the country satisfied. Caution is his watchword.

18th December, 2016
Paschal Donohoe is ‘determined to make the most careful decisions possible’ Picture: Fergal Phillips

For much of its short existence, the Department of Public Expenditure and Reform has found it easy to say no to demands. There simply hasn’t been any money left over to spend. The troika was in town. Budgets had to be cut. So too did public sector pay. Spending wasn’t on the agenda.

But the troika has been gone for a couple of years now, the economy has recovered and the...

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