But it has been our experience that that these are circumvented over time and should be seen as buying time for fiscal policy to play a greater role in macroeconomic adjustment. I hope that I have provided some food for thought on economic development.
I would like to end by emphasising that Ireland firmly supports Croatia’s objective to become a member of the EU and were delighted to see the start of accession negotiations last year. Croatia can also act as a positive example to other countries in the region in terms of the willingness of the EU to help countries develop towards participation in European integration.