Ryan predicts economic comeback

IRELAND WILL be the “economic comeback kid” of Europe, the head of Enterprise Ireland predicted yesterday.

Frank Ryan told delegates at the CEO Forum 2010 in Dublin Castle that Ireland would deliver a “remarkable export performance” this year.

Together with Germany, Ireland would lead European export growth in 2010, he said.

Also speaking at the event, which is sponsored by Deloitte and Enterprise Ireland, Minister for Trade and Commerce Billy Kelleher said Ireland would work its way out of its current challenges.

“We are still a very capable, innovative people,” he said.

When asked about the Croke Park agreement, Mr Kelleher said he was not “its greatest defender” and, if substantial public sector reforms were not achieved by the first quarter of 2011, “all bets are off”.

Cyril McGuire, chief executive of software provider Trintech, said that export markets right across the world were improving.

“I know it’s still very difficult in the domestic market, but we’re certainly finding the US market coming back nicely and indeed some of the European markets,” he said.

“I’ve seen the signs in our export markets of . . . recovery shoots. Those green shoots are happening,” said Mr McGuire.

Business leaders needed to take difficult decisions, whether that meant cutting costs or becoming more competitive to position their companies for an export-led recovery, he said.

He also advised chief executives to remain confident and upbeat, despite the challenging economic times.

“That’s what your staff is looking for,” he said.

“They’re looking for direction, they’re looking for confidence and it has to come from the top . . . and you have to lead by example.”

Eddie O’Brien, chief executive of Topaz, also spoke of the importance of giving confidence to staff, because when employees get scared “they stop taking action”.

He said that a year and a half ago he advised everyone in his organisation to stop listening to the news.