It is not to understate the severity of the debt challenge, public and private, currently facing the Irish economy to recognise this propensity, and to believe that it reflects in part a flexibility which will clearly be a very helpful ingredient in the recovery.9 Had it not been for the official funding from EU and IMF sources, the budgetary cutbacks would have had to be much more severe, and economic wellbeing would have been much more badly affected.
The example I have used today is seemingly a small problem. Nonetheless, through solving these practical problems one by one the world will become closer to a seamless economy and the global economy including Asia-Pacific region will become able to realize its full potential.