Yesterday, the EC published the results of the in-depth reviews under the Macroeconomic Imbalance Procedure. The conclusion for Ireland is that there are “imbalances that require specific monitoring and decisive policy action”.
The MIP has been around for a couple of years but it is still far from clear that it has delivered anything. One thing we do get are documents which compile and illustrate a very broad range of data on the Member States. Yesterday these included the in-depth review of Ireland which has 65 graphs to peruse, but with little to be learned.