The new issue of Finance & Development carries several articles on this topical issue: you can find the articles here.
His remarks at this week’s Vienna conference are available here
The FT has a provocative editorial on Ireland in today’s edition. While making some valid points, it continues to treat Ireland as an ultra-open freak to which completely different rules apply. I think it would be news to most Irish businesses that “domestic demand is unimportant.”
While attention today is understandably fixed on tomorrow’s budget, it is important not to forget what is happening in the real economy. The advance estimate of the value of farm output and income in 2009 published yesterday by the CSO underscores the severe impact which the drop in milk prices has had on farm output and incomes in the current year, although a dramatic drop in the volume of cereals produced as well as a continuing decline in sheep production also contributed to the dismal result.
Overall, the value of agricultural output at market prices fell by 18.9%. This includes a fall in the value of milk production of 34.8% and in cereals production of 52.1%, while the value of cattle production fell by 10.7% and pig output by 12.6%.
The opinion of the economics team at Goldman Sachs is important in shaping market views of the Irish economy and the Irish fiscal position: see here for the latest briefing note by Kevin Daly.