It’s a time for restraint

THE latest report of the International Monetary Fund makes bleak reading.

In a dark economic landscape, the only light is that Ireland still has a skilled work force, a flexible labour market and an investor friendly environment. Otherwise, the IMF reiterates the warnings sounded elsewhere in a growing pile of negative forecasts.

Basically, the economy remains vulnerable to currency fluctuations. Because of our unusually highly dependence on exports, serious problems will arise if the euro continues to strengthen against the dollar.