Geldof calls for funding to develop new technologies

Anti-poverty campaigner Bob Geldof tonight warned the Government was not spending enough on developing new technologies.

Giving cautious backing to two-days of "frankly brutal" brainstorming, the rock star turned activist said he remained unsure over the Farmleigh forum's potential.

"It was interesting," the Live Aid founder said.

"Whether it's useful to people getting jobs and people's lives getting better and not having to leave the country, the country getting up off its knees and moving on, I'm not sure.

"But it's an attempt. It's just a little bit of help."

The Dubliner was on a guest list of 200 influential Irish figures attending the Phoenix Park estate to drum up ideas to pull the country out of the downturn.

While he said it was not the place of delegates to criticise the Government, he warned there were suggestions that Ireland should be spending more on research and development, about 3% of expenditure.

Asked if the banana republic mentality in Ireland that he once famously sang about still exists, he joked: "It always lurks."

"But I think I got carried away."

Later he conceded telling a tourist at Dublin Airport yesterday that it was now more of a banana republic than ever.

Meanwhile, billionaire media tycoon Denis O'Brien said a 'Yes' vote in the Lisbon Treaty referendum was essential for setting Ireland on the path to growth.

Branding himself "unashamedly Yes", the Malta-based businessman said: "That is the elephant in the room at the moment for Ireland."

The forum was set in the grand Farmleigh House, whose neighbours include President Mary McAleese and the US Ambassador.

Despite the grandeur, Geldof spurned the uniform collar and tie favoured by other guests, opting instead for a leather jacket more in keeping with his rocker days.

He claimed the world was not enjoying the pace of Ireland's economic collapse and said all countries were united in attempts to get out of the global recession.

"Outside there isn't any gloating," he said.

"Everybody's been chastened by this. And they're not gloating over Ireland - they're saying how the hell are you going to get out of this one?"

Geldof said Lisbon had placed too great a burden on Ireland, as the country is the only EU member voting.

"It's the most important thing? No it's not, get a grip," he said.

"Get a few jobs going here and get the economy up and running, that's what we need to do."

US Ambassador Dan Rooney said signs of economic recovery will not become evident until the end of next year.

"I think it's brought a lot of people. That shows the world that there are many Irish Diaspora that are still interested in Ireland even though they've been away for a while," the Ambassador said.

"In America we say that there's over 40% of people with Irish descent. That's a special thing so I think the conference is going to be terrific."