Ireland ‘set for new era of urbanisation’

IRELAND is to become more European and less Mediterranean, with big industries opting to locate in cities over rural sites, according to a leading economist.

National Irish Bank (NIB) chief economist Ronnie O’Toole believes the Irish economy will move sideways this year, with a mild upturn to follow in 2011.

This sluggish recovery, he said, is partly due to Ireland’s over-reliance on rural construction jobs during the boom years, which has also created a huge overhang of rural housing.