Cowen tells US investors Ireland is out of recession and back in business

IRELAND is out of recession and back in business, Brian Cowen told American investors yesterday.

Speaking at the New York Stock Exchange at the beginning of a visit to the US, the Taoiseach said a new €500 million innovation fund would help create up to 120,000 jobs during the next decade.

The Government will invest half the money in the project and hopes to attract the rest from venture capital groups, especially US-based ones.