Small step along road to economic recovery

AGAINST a backdrop of unrelieved economic gloom, the outcome of this week’s emergency EU summit in Brussels was positive from Ireland’s viewpoint and is to be welcomed.

But enormous problems lie ahead and it would be misleading to dress up the EU deal as a panacea for the country’s ills.

By securing lower interest rates and a longer pay-back deal, the economic outlook has become just a little brighter.