The new Northern Ireland Secretary of State urged politicians yesterday to reach agreement on the Mitchell review, as otherwise they could face years of economic stagnation.
Mr Peter Mandelson used his first official engagement to appeal to politicians to choose between burying their heads in the sand or moving forward into the next millennium.
Speaking in Derry at the announcement of a new British Telecom call centre which will create 650 jobs within the next two years, Mr Mandelson said that in business, just as in politics, people had to make a clear choice.
"We can stick to the past and lose out, or change and welcome the new opportunities as well as uncertainties that the new era will bring.
"Bury our heads in the sand, stick to the old ways and hope for the best, or celebrate the new options and take our place proudly in the millennium," he said.
"The rest of the world is not going to hang around and wait for Northern Ireland to succeed. They are steaming up the path and we have to make sure that we are bounding alongside them," said the Secretary of State.
A successful outcome to the Mitchell review was vital if Northern Ireland was to make both economic and political progress. "I am not going to say much about the Mitchell review, except to say this: they are talking hard, they are doing so in a good atmosphere and, as long as there is give and take on both sides, we should see success," he said.
Asked if he was hopeful that the Mitchell review would succeed, Mr Mandelson said: "I am neither optimistic nor pessimistic. I am merely hopeful and I will always remain hopeful throughout my time in Northern Ireland."
The SDLP Assembly member, Mr Mark Durkan, agreed with Mr Mandelson. "He is emphasising the important linkage there is between economics and politics, between political stability and economic development.
"He is making it clear that we are in a situation, both economically and politically, that unless we move forward we won't even get standing still, we will simply fall back.
"In terms of the Mitchell review, I don't want to speak too much in terms of optimism, pessimism or whatever. But I think the parties are engaged in a purposeful manner, and certainly we go there with purpose and we are in a situation where people want to see this thing moved forward.
"We can collect and gather ourselves to do that in terms consistent with the agreement and in terms compatible with the particular interests and positions that the parties themselves are putting forward," he said.
Mr John Hume said the Secretary of State had arrived in Northern Ireland at a very important time. His message was read for him by Derry's Mayor, Mr Pat Ramsey, as the SDLP leader is recuperating in hospital from an operation.
"I would like to welcome Mr Peter Mandelson to Derry and to congratulate him on his appointment. I wish him every success in his new role. He has the opportunity now to achieve so much for the people of these islands," Mr Hume wrote.