Brian Lenihan probably made the best fist he could of it

Out of a 7,500-word speech just 300 precious words were devoted to restoring competitiveness. The language was woolly in the extreme. Everything is hedged around by phrases like “where we can” and “with due consideration”

RICHARD BRUTON was right yesterday, sort of. In Ireland’s main trading partners, policy is geared towards stimulating growth and avoiding deflation. The Government’s approach, however, is to squeeze wages. While other countries attempt to boost their economies by fiscal expansion, Ireland is tightening its belt.

Time will tell which approach pays off best and fastest for countries. It is one of the ironies of the current situation, though, that Fianna Fáil and Fine Gael almost appear to have swapped sides.