IRELAND
CUSTOM HOUSE, DUBLIN
SPECIAL ADVERTISING SECTION
By Camilla Sutton
ALONG WITH Portugal, Spain and Greece, Ireland was a eurozone nation that hit the head- lines through the spring of 2010 for the wrong
reasons. Financial default was a real threat. However,
swift action from the Irish Government has led to signs
of economic recovery. The legal community in Dublin
remains positive about the future.
STRIVING FOR STABILITY
Ireland is seeing some early signs of recovery. Quarterly
Government figures issued from the Central Statistics
Office showed an increase in retail sales data for
the first quarter of the year. Ireland is also seeing a
cautious strengthening in consumer confidence
generally. Meanwhile recent trends showing no
further increases in unemployment rates indicate
‘The Irish Government has predicted a return to
growth in the second half of the year and the latest fig-
ures would seem to indicate that we are on track to
achieve that,’ comments Robert O’Shea, a partner in
the corporate department and head of the International
Business Group at Matheson Ormsby Prentice. ‘On the
downside, the higher cost of borrowing, following
Greece’s ongoing problems, has the potential to slow
down the recovery in the country’s public finances.’
‘The brave and positive steps taken by Ireland
towards stabilising its national finances are starting to
pay dividends,’ says Declan Moylan, chairman of Mason
Hayes+Curran. ‘Independent commentators at home
and abroad are now forecasting the resumption of year
on year economic growth from 2011, albeit at modest
