Tom Healy: Today the Nevin Economic Research Institute is being launched. The website www.NERInstitute.net contains information about the new Institute as well as download copies of the Quarterly Economic Observer and the Quarterly Economic Facts. Our key message and conclusion based on research to date is that:
* fiscal austerity is killing the domestic economy
* unemployment - especially youth - is the main social problem confronting the EU
* Ireland is still deficient in key areas of infrastructure - energy, water, retrofitting, broadband and provision of early childhood care and education.
* An investment stimulus of €15bn over 5 years would begin to reverse some of the negative impacts of fiscal austerity to date.
* Such a stimulus could be sourced from public, private and EU (EIB) sources in such a way as to avoid adding to General Government Debt. It could also lower the public sector deficit as a result of tax buoyancy and lower unemployment costs.