Studies to look at level of debt

The construction sector could help Ireland climb out of its massive debt, according to the latest report from the European Commission on the Government’s draft budgetary plan for next year.

While the Irish budget was one of just five found to meet EU rules, the commission is to carry out detailed studies of a number of areas including non-government/private debt, which is close to 300% of GDP, and this will include looking at the role of re-domiciled companies.

They warn the expected growth — the highest in the eurozone — could be threatened by low euro area growth and that the very high private sector debt is also a threat to recovery.