In the margins of a recent event we held at the New York Stock Exchange looking at the long-term consequences of the economic downturn, the only thing journalists wanted to discuss was whether the Irish debt crisis was contagious. My conclusion from this was that we are still some way from leaving our current problems behind us. This (admittedly pessimistic) view was borne out by our Q4 Business Confidence Monitor. Against this backdrop of continued uncertainty, we need to raise our sights beyond the next 12 months and put in place the foundations for sustainable economic recovery.
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