Of the European countries hit hardest by the global financial crisis (GFC), Ireland has proved to be one of the more economically resilient. Now it is establishing a development bank focused on building small to medium-sized enterprises. This move offers some lessons for Australia. Here are some reasons why. Enda Kenny, Prime Minister of Ireland Following the federal budget, economist Steve Keen pointed out that Treasurer Joe Hockey will find it hard to achieve his target of making overall spending in the economy (that it, household consumption, investment and government outlays) grow at an annual rate of 5 per cent,…
