As Ireland prepares to bid farewell to the Troika on Sunday, Clare T.D. and Chairman of the Oireachtas Committee on Foreign Affairs and Trade Pat Breen said today (Friday) that exiting the bailout is an important milestone in our Country’s economic history.
“Ireland has been through one of the most challenging periods in our history over the last number of years, following on from the catastrophic mismanagement of our economy by Fianna Fáil. No-one is more aware of this than the people of County Clare.
When this Government came into office we inherited an economy which was in free fall, our public finances were out of control, Ireland was shut out of international bond markets and our international reputation was in tatters.
Now our economy has returned to modest growth, our public finances are under control, Irish Bond Yields are less than 4% and our International reputation has been rebuilt with Forbes Magazine ranking Ireland the best country in the world to do business a testament to our enhanced reputation abroad.
Sunday’s exit has been made possible by the people, who have been obliged to endure one of the most periods in the country’s economic history. The people deserve credit for this achievement and it is now clear that their sacrifices are starting to bear fruit.
Exiting the bailout is an important milestone in our economic history but it will not change our lives overnight. This decision however gives us the freedom to rebuild our economy in a sustainable way. That is why, next week, we will publish a new medium term economic plan to build on the progress we have made and to ensure that the culture and practices that brought this country to its knees are never repeated – we are never going back.
Job creation will be the central goal of the new plan and this Government’s priority is to continue to create more jobs by building on the 3,000 currently now being created every month.
Sunday marks an important milestone on Ireland’s recovery and will send a further signal that Ireland is recovering, returning to normal market funding and building for a sustainable future.