TAOISEACH ENDA Kenny said the Government was examining ways to give homeowners struggling to cope with mortgage repayments and negative equity a range of options to get “out of debt”.
Speaking at the conclusion of the Global Irish Economic Forum, Mr Kenny said the findings of a special commission appointed to look at ways of dealing with distressed mortgages is due to be considered by the Cabinet within weeks. “It won’t be an answer to everyone’s problems, but we want to put together a range of options so everyone is in a position to get out of debt,” Mr Kenny said.
He also pledged to turn ideas and proposals that emerged during the course of the weekend’s forum into concrete actions.
A high-powered implementation group – including both the Taoiseach and Tánaiste – will meet twice yearly to review progress made on decisions arising from the forum. In addition, Mr Kenny said Irish embassies will work more closely with the diaspora as part of an ongoing process to boost job creation and investment.
Over the past two days alone, he said, the Government had received offers from expatriate business leaders to invest in a special venture-capital scheme to help start-up businesses in Ireland.
He was also keen to avail of offers from US and other multi-national firms to take on hundreds of graduates on internships, so talented young people would be able to avail of valuable experience instead of “going on the dole”.
At home, Mr Kenny pledged to stimulate economic activity by introducing a “micro-finance” scheme to give more flexibility to small and medium-sized businesses and to provide more certainty on Government plans for taxes by announcing multiannual budget plans.
“What has happened here in recent days is a genuine attempt to connect the Irish diaspora around the world,” he said. “The people’s mandate is reflected in the agenda of the Government – an agenda to make decisions that are in the interests of the country and its people. We cannot do it on our own, so we are looking for co- operation and assistance.”
In attempting to sell the message that Ireland is open for business, Tánaiste and Minister for Foreign Affairs and Trade Eamon Gilmore said Irish embassies would be working much more closely with business leaders to promote trade and investment. “Diplomacy is changing. That’s why we’re talking not just about the formal representation of the country, but people like Gabriel Byrne being an ambassador for Irish culture and others being sports ambassadors, business ambassadors, advocates for tourism. The era of the diplomatic bag is, in many ways, history,” Mr Gilmore said.
He added that it was vital to plan for the sustainable growth and prosperity of Ireland over the long term, rather than just seeking to tackle the immediate fallout of the financial crisis. “It is not enough to think of the next five years. We have to think about the next 50 years,” he said.
He also expressed hope that the deliberations of forum would prove, in time, to be a turning point in mapping out a new future for Ireland. “We know these are difficult times. We should admit that mistakes were made. We can’t change the past, but we can define the future. Let the history books say that our problems were great, but our service and ambition were greater.”
