Maybe i'm just being pessimistic here, but i'd have to wonder if anything can really be done at this stage. The cost base and income expectations in ireland are miles out of line with the rest of the eurozone and the gap is still widening, we're hooked on cheap credit which has just been turned off, and we're dependant to a huge extent on multinationals who could cut and run at any stage, even without the inevitable clampdown on corpo-tax related scams from the rest of the EU.
I would agree with this.
My earlier post (tourism/agriculture/foreign companies) was really to illustrate that Ireland doesn't have a future. How many other countries can now also offer these?, and with better value for money?
Why I think this way;
What would happen if American and European companies set up operations in a poor African country, providing work, then give the masses cheap, easily accessible credit? I suspect we would see a similar boom that happened in Ireland. Take away the cheap credit, and withdraw the companies and what are you left with?
Ireland didn't invest its new found riches in its future, so now we don't have one. Ireland is simply going to go back to being the poor man of Europe.
Very, very few Irish SMEs are innovators, or create something (apart from houses). Most of them are reliant on large foreign companies, other SMEs or the building industry. With the collapse of construction, the threads of the enconomy are being pulled.
We are probably now even in a worse situation than before the boom. Now we have lots of people with huge debts for fast depreciating liabilities like cars and houses etc.
Ireland has nothing to underpin the economy.