Pierre Moscovici: Avoid any more economic ‘bubbles’

Ireland must avoid the prospect of any more “bubbles’” developing in its economy in the future, Economic and Financial Affairs Commissioner Pierre Moscovici has cautioned.

His economic forecast for this year lists Ireland as having the fastest GDP growth in the EU, at 4.5%, which the commissioner described as “brilliant”.

But the risks to the EU’s moderate recovery and growth are increasing, led by slower growth in emerging markets including the disorderly adjustment in China, interest rate rises in the US, and a further fall in oil prices.