Ireland’s recovery - Kicking can down road will not help

First the good news: Ireland’s economy is forecast to experience a resurgence in 2014, its first full year after emerging from the bailout, according to the Economic and Social Research Institute, the nation’s leading think-tank.

The ESRI says the economy, measured by GNP, will have grown by 2% this year and it forecasts growth of 2.7% next year.

More importantly, the domestic economy — measured by GDP — has already grown for the first time since the economic crisis began, and recent data on employment growth and tax returns has led the ESRI to raise its forecast for further growth.