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E-mailIreland needs 'resolute action' to recover from West's worst recession
Cowen tells global Irish forum that governmnent needs help
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Ireland is taking "resolute action" to try and recover from the worst recession in the West.
Irish Taoiseach (Prime Minister) Brian Cowen told the Global Irish Economic Forum in Ireland that his government has already made "significant corrections."
“We’ll take further difficult decisions required and we also have to deliver economic recovery by doing so,” he said.
Cowen told the forum that Ireland plans to spend €54bn buying real-estate loans to try and clear out the so-called toxic assets.
About 180 people of Irish descent are gathered at Farmleigh in Dublin to brainstorm ways to help Ireland recover from the economic crisis.
Ireland's Foreign Minister Micheal Martin said Ireland needed to learn from Israel.
He said the peace process had been the "anchor" of the Irish-American relationship but that new anchors needed to be found to maintain the relationship.
"We are conscious that the Israelis have been particularly effective," he said.
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