Wednesday, 23 February 2011
From tiger to bailout
Ireland’s deep financial and economic crisis results from failings in its growth model, policy mistakes and systemic failures within European Monetary Union. The bail-out agreement with the IMF and the European authorities and the associated austerity package will not resolve the problems faced by the country and must be renegotiated. Instead a package is needed to promote economic recovery and jobs growth involving elements including: sovereign debt rescheduling and a lower interest rate, fundamental tax reform, and an investment programme financed by the sovereign wealth fund. That's the opening of an ETUI Policy Brief co-authored by former TASC Director Paula Clancy and Policy Analyst Tom McDonnell. The full paper is available for download here.