The key to Ireland’s future is to build a sustainable diversified economic model, and not end up putting most of our eggs in one basket, as we did in the not too distant past.

Now that a new complexion has been put on the physical shape of the Government and it has departed for the summer holidays, speculation will mount about the manner in which policy might or might not change over the remaining lifetime of the Government.

Ireland’s export statistics have become very volatile in recent times.

Nobody but nobody can possibly argue against the thesis that the economy badly needs as much stimulus, consumer spending and employment support and creation as possible.

Following the disastrous election results in May, the Government is now under considerable pressure with less than two years to go to a general election.

It should come as no surprise to anybody to learn that politics is a very cruel and callous business.

Back in July 2012 the president of the ECB, Mario Draghi, promised the world that he would do whatever was needed to solve the crisis in the eurozone and get economic growth back on track.

The long-established Irish political system received a major wake-up call last weekend, with the emergence of scores of candidates without a semblance of a coherent economic or social policy between them, other than to refuse to pay for vital public services and tax those with any semblance of wealth to the hilt.

Many statistics can be identified to demonstrate the remarkable collapse that occurred in the economy since 2007, but the property and construction sector provide the most vivid and frightening examples.

Although Ireland formally exited the troika bailout programme last December, and has subsequently seen its sovereign debt upgraded and has successfully re-entered the bond markets at historically low borrowing costs, the country is still subject to external surveillance.