Brian Lenihan has saved Ireland from economic catastrophe – that was the sentiment expressed by Friends First Chief Economist when addressing a Waterford Chamber Business Breakfast on Wednesday last.
The Clonea-Power native told Chamber members at Dooley’s Hotel that Mr Lenihan had truly done the State some service, and pleaded with him to stay the course come the December budget.
“It’s interesting that in the context of the debate that’s currently going on about the difficulties in Greece and the problems that it could potentially create for the whole Eurozone project, that Ireland is not being mentioned,” said Mr Power.
“I can assure you, if it wasn’t for Brian Lenihan’s budget last December, Ireland would up there, pushing Greece off the pedestal at this point – we would be a basket case economy, our cost of borrowing would have gone through the ceiling at this stage.”
Mr Power continued: “The international perspective is: the Irish are addressing their problems. They’ve increased taxes, they’ve cut public expenditure, they’ve cut public sector pay and that really does impress international observers.
“And the view out there, whether it is real or imaginary, the perception is that Ireland is addressing its problems, it will turn around the situation just as it did back in 1987. And I think we need to ensure that that continues.”
He declared: “I do believe that we should get down on our knees every morning and thank God for Brian Lenihan. Brian Lenihan has been the one politician that has stood up in the last 12 months and has really carried the baton and I think he has saved Ireland to this point.