Our economy and society are unrecognisable today in comparison to the Ireland that the joined the EU in the 1970s. Access to a large market alone was a necessary (but not sufficient) condition for transformation. It also required an enabling business environment for domestic and foreign companies alike, effective policy frameworks and public investment in physical and human capital.
In terms of the current economic agenda facing Ireland, we need to focus on maintaining an environment that is attractive for business activity in an ever-changing global economy in support of domestic prosperity, while ensuring the ancillary policies are in place to safeguard macrofinancial stability.