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December 18th, 2013 @ 15:43

Bailout Exit Only the Beginning

 

Chambers Ireland has today said Ireland’s exit from the bailout programme is to be welcomed, but it is far from the end of the process that will restore our economy to sustainable growth.

Speaking this morning, Chambers Ireland Chief Executive, Ian Talbot, said “while the Government is to be commended for exiting the bailout on time, having met all of the Troika’s requirements, this is by no means the end of the road to recovery. This exit is another step on the path economic progress. However unemployment remains far too high and we exit with a large national debt still to pay off.”

“The true test of the bailout’s success will be where we go from here. If we are to continue to progress, then a clear focus on the domestic economy – where real growth in employment will come from – is required. While tens of thousands of jobs were lost in the retail sector alone during the downturn, continual improvement in spending and confidence levels could see a reversal of this trend. However, this will only be achieved if the Government focuses on containing costs without taking any further disposable income from people through levies or stealth tax increases,” he concluded.

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