The planned pace of the adjustment is the minimum that is required to ensure stability and it is vitally important the targeted reduction of the deficit as a proportion of GDP is achieved on or even before schedule.
Progress in this regard, combined with further improvements in the competitiveness of the economy, and a restoration of a functioning banking system, are the cornerstones to recovery. Recent developments in financial markets point to an increased recognition that Ireland is taking the right steps to achieve a return to sustainable growth and balanced public finances.