Former US president Bill Clinton has forecast an end to Ireland's economic difficulties and said the world thinks more highly of the country than many Irish people do.
Speaking at the Global Irish Economic Forum in Dublin this evening, Mr Clinton told delegates that despite the problems facing the country, Ireland "still has a lot going for it."
Mr Clinton highlighted a number of positives for the country including its young population, the recovery in the exports sector and its sophisicated manufacturing and services industries.
He also praised Ireland for not defaulting on its debt, saying it was the right decision not to do so.
The two-day Global Irish Economic Forum being held in Dublin Castle is part of an ambitious strategy to use Ireland’s cultural heritage to help rebuild its battered economy.
Among key outcomes of the forum so far are:
- Plans for a global Irish “homecoming”, billed as the biggest tourism initiative ever staged in Ireland, to attract up to 325,000 extra visitors to Ireland in 2013;
- An offer from 100 top expatriate business leaders from around the world to contribute their experience and time by serving on State boards for free over the next five years;
- A new Irish social networking site – WorldIrish.com – which its founders say has the potential to connect millions of Irish people, or those with an affinity to the country;
- An annual State-run diaspora awards ceremony to recognise “outstanding contributions” or distinguished service made to Ireland and Irish communities.
Speaking at the event yesterday, Taoiseach Enda Kenny said be believed a “new age” of prosperity lay ahead for Ireland by working in partnership with the Irish diaspora, estimated at 70 million in number.
Through decisive action to rebuild the economy, Mr Kenny pledged Ireland would be the first of the three bailed out euro zone countries to “wave goodbye to the IMF”.
He said the country may return to the markets as soon as next year and will, in time, be upgraded by the credit rating agencies.
At the forum today, Minister for Finance said the Government may consider a "drastic" cut in commercial rates of stamp duty in the next budget.
Speaking before addressing a closed session of the Global Irish Forum at Dublin Castle this morning, Mr Noonan said delegates had impressed upon him that Ireland’s rate of commercial stamp duty is not competitive.
He said Ireland’s rate of 6 per cent compares to 1 per cent in London. That meant that an American investor, for instance, investing in the Dublin market would have devote a considerable proportion of his profit to pay stamp duty first.
Separately, novelist Colm Tóibín told delegates at the forum that emigration is a "tragedy" for the emigrants themselves and for Ireland.
Mr Tóibin, who lived in Spain for many years, said exile had been “nourishing” for him as an artists and for many Irish writers such as Samuel Beckett and James Joyce.
However, he stressed that it was “too easy” to think that made emigration good for Irish people and when Irish people emigrate, their parents and grandparents lose them.
“It is a tragedy and we have to remember that and that should be our priority,” he said.
Actor Gabriel Byrne, who is also Ireland’s cultural ambassador, said emigrants and the diaspora had a “passionate even spiritual connection” with Ireland, but the feelings weren’t reciprocated by Irish people who remain at home. “We don’t think of them belonging to us,” he said.
Comedian Dara Ó Briain said Irish people in Britain were now regarded as not much different from their British counterparts and Ireland not sufficiently unique to attract visitors.
He said the Imagine Ireland cultural initiative in the United States should be tried in the UK too.
The three were taking part in a discussion at the forum on how to promote Ireland through arts and culture