Pensions the real issue - It’s time to be realistic about crisis

The decision by unions at the ESB to lift the disproportionate threat of a Christmas power strike is very welcome for myriad reasons.

The impasse that threatened to undermine the longed-for fillip the holiday season usually brings to the retail and entertainment sectors was resolved after an 11th-hour deal was reached between ESB management and unions after negotiations at the Labour Relations Commission yesterday. Those whose challenging job it is to attract foreign investment into Ireland cannot have been any less relieved than those directly involved.

In reality any other conclusion than the one reached yesterday afternoon would have been reckless in the extreme and unacceptable. It would have jeopardised so much of the good work, achieved at great cost, done to rebuild our shattered economy.