How Ireland pulled back from the brink

World Economic Forum, Agenda (Enda Kenny), Jan 20 2015

(...) Full employment by 2018?
Our strategy has been vindicated by events. The bail-out programme my government inherited in 2011 was penal, and markets perceived it as unaffordable. By demonstrating our resolve to restore economic stability, we negotiated a series of concessions in the programme design – lower interest rates, longer maturities, a better deal on bank-related debts – that  won back investor confidence in the Irish economy. This was not just because of the direct benefits of the concessions on the public finances, but also because of the demonstration that Ireland and its economic policies once again had the full backing of our international partners. (...)


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