Irish economy must avoid complacency

"I've said it before in the columns of this newspaper: 2000 marked a watershed for the Irish economy. In that year the pace and pattern of economic growth fundamentally changed and the Celtic Tiger gave way to what might be more aptly called the Celtic Beaver," writes Jim O'Leary, an economist and lecturer at the National University of Ireland Maynooth. "Irish people obviously take pleasure in the prospect of another year of strong economic performance, as indeed they take pride in the country's extraordinary economic record of the past 12-15 years. The pleasure and pride are understandable, but complacency is not appropriate. For all that our economic achievements of recent times reflect creditably on the wisdom of our policy choices as well as our genius, enterprise and energy, they also reflect the influence of events and processes that are outside our control."

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