This weekend, The Economist’s European economics editor Christian Odendahl published an assessment of EU economies, ranking them based on five major challenges they face. These challenges include demand, debt, demography, decarbonisation, and decoupling exposure. According to the assessment, Ireland ranks best among all EU economies, closely followed by Malta and Cyprus, and then by Luxembourg and Denmark.
The rankings aim to map out the challenges faced by European economies and identify which countries are likely to struggle and which are not. Odendahl highlighted that tax havens like Ireland have high corporate debt without it significantly impacting the local economy, and emphasized the advantages of being a small country.
However, despite Ireland’s ranking, a recent warning by the ESRI suggested that the country’s gross domestic product (GDP) will contract as multinational activity slows. Irish economist Mark Henry supported this forecast, stating that Ireland is better prepared for a downturn now compared to previous times. He emphasized the increase in employment and the decreased reliance on a housing boom to fund public services.
On the other hand, economist Stephen Kinsella remains cautious and argues that the rankings overlook certain nuances of Ireland’s economy. He points out that GDP, the measure used in the assessment, is overstated due to the presence of multinationals in the country.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
