Still not quite back into the swing of things

Given the impressive showcase in Fota Island last weekend, it is worth using a golfing analogy to ask where the Irish economy currently stands.

From the bottom of the leaderboard in 2009, Ireland has made a charge over recent years, but one has to think it is still not playing to its full potential. Some more practice time is needed.

This is essentially the message that the International Monetary Fund (IMF) and the European Commission convey in their first programme assessment of the economy since the end of the bailout last year.