The Dáil resumes - Economy is not the only challenge

THE DÁIL resumes today and faces economic challenges more pressing than at any time in recent years.

The nail-biting, roller-coaster ride on the stock markets, the collapse in that cornerstone of our ambitions, conversation and economy — the property market — have colluded to undermine pensions and confidence.

Add to this volatile mix job losses and the diverging monetary policies of Europe and America and it is easy to see why the wake-up-and-smell-the-coffee gauge has moved deep into the red zone. Imminent pay talks, at which a disgruntled public sector will try to recover ground they feel they lost at the last round of benchmarking, will add considerably to that pressure.