Economy not losing competitiveness, says Cowen

FINANCE Minister Brian Cowen has defended the economy, denying it is losing competitiveness and saying that recent job losses had to be seen in the context of low unemployment.

He played down a report from the Central Bank warning of the dangers of increased inflation, saying that it was in line with the stage of Ireland’s economic development.

His remarks followed Motorola’s announcement that 350 losses are to go in Cork, making a total of 800 for the month.