22/01/2008

Taoiseach Remains Confident In Irish Economy

Taoiseach Bertie Ahern has told reporters in Dublin that he remains confident that Ireland's economic policies are strong enough to survive the current uncertainty in the global economy.

Although Mr Ahern told reporters that he was "concerned" about the current situation, he said that the Irish government was monitoring the situation closely and stressed that it was important not to overreact to the latest turbulence in the international markets.

The Taoiseach said that Ireland's economic policies were well thought out and very sound and could "deal with international volatility if we need to do so".

Mr Ahern's came as stocks plunged in value today at the New York Stock Exchange.

Earlier, the US Federal Reserve announced a 0.75 cut in interest rates, to 3.5%.

On Monday, trading in markets in Europe and North America had their worst day since the terror attacks on September 11, 2001, and there were also big losses on Asian markets.

There have been fears of a recession in the US, with the sharp downturn in the US economy being caused primarily by the US subprime mortgage crisis.

(KMcA)




Related Irish News Stories
Click here for the latest headlines.

14 April 2008
Airline Boss's Comments Dismissed
A spokesman for the Taoiseach has said that Mr Ahern remains unmoved by a budget airline boss's scathing comments about him. He is quoted as saying the Ryanair chief's unparliamentarily remarks were most definitely "unworthy of comment". Airline boss Michael O'Leary had earlier said his own kind of goodbye to Taoiseach Bertie Ahern.
04 September 2019
Irish Exporters Financially Hit By Brexit - Enterprise Ireland
Brexit has cost Irish exporters more than €100,000 to date, a survey conducted by Enterprise Ireland has revealed. Surveying client companies attending International Markets Week, Enterprise Ireland found that 53% of companies say Brexit has impacted their business, with one in ten companies citing that Brexit has cost their business over €100K.
21 August 2014
Former Taoiseach Albert Reynolds Dies Aged 81
Former Taoiseach Albert Reynolds has died aged 81. Reynolds, born in Rooskey, Co Roscommon, served as a minister in a number of governmental departments and was elected Taoiseach on two occasions. He has been honoured as playing an integral role in the Northern Ireland peace process. His death was announced by his eldest son, Philip Reynolds.
21 July 2016
Taoiseach Enda Kenny Meets With French President Francois Hollande
The Taoiseach Enda Kenny has met with French President, Francois Hollande, to discuss a range of EU counter-terrorism measures and the impact of the UK's Brexit decision. During the meeting the Taoiseach reiterated the sympathy and solidarity of the Irish people with France in the wake of the attack in Nice on 14 July.
10 April 2008
Cowen Represents Government For First Time as Leader-Designate
Tánaiste Brian Cowen will represent the Dáil today for the first time since being selected as the next Taoiseach. Mr Cowen will preside over the Order of Business today, as the run up to his 7 May succession to current Taoiseach Bertie Ahern begins.