Sir, - The ESRI in its recent hook Welfare Implications of Demographic Trends (April 15th) appears to give a very rosy picture of the Irish economy over the next 10 to 15 years. Is it looking at the full picture? We are no longer a stand alone economy and are rapidly relinquishing much control to Brussels.
The Maastricht agreement along with the pending single currency, will copperfasten the shrewd pension investment in our economy by our European neighbours. The EC is rapidly becoming a giant retirement home. The elderly will represent nearly 33 per cent of the population between the cages 15-64 by the year 2020. This figure does not appear to include the recent victory of the French truck drivers, and others who won the right to retire at 55 years!
Most pensions in Europe, as distinct from Britain, are paid from the national exchequer.
Ireland's birth rate has fallen by 27 per cent in the period 1980 to 1996. Is it time to wipe the dust from our eyes and question the balance of the EC's present affluency with the ability to survive? - Yours, etc.,
Allen Park Road,
Stillorgan,
Co Dublin.