The release of data a couple of weeks back showing that Irish GDP contracted by 0.3% last year was very disappointing and it did bring a reality check.

I have always believed that at best, economic forecasting is a hazardous exercise and at worst it is a total waste of time.

The interpretation of Irish economic data is difficult at the best of times, due to the very significant multinational presence in the economy, the various accounting techniques they utilise, and the manner in which they retain or repatriate profits back to the home country.

Over the past week we have got some very compelling news on the Irish labour market front.

I have argued to the point of boredom since the Government came into office that its success or failure should be determined at end of its term by the number of people in meaningful employment.

This week, the Taoiseach told Irish business leaders that the Government is the most open administration for business in 50 years.

Whether one calls it “weird weather” or “global climate change” the events of the past months should convince even the greatest sceptics amongst us that we are in the midst of serious changes to climatic conditions.

As has been the case for the last three years, Bord Bia has once again delivered some post-festive cheer.

During the week, I was delivering a presentation outlining the key issues and challenges for Ireland over the coming year.

Finance Minister Michael Noonan’s decision to exit the bailout programme in December without availing of the opportunity to put a financial backstop in place in the event of something going wrong next year has been characterised by some as a display of macho masculinity by Ireland.