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by Niall O'Dowd

The Celtic Comeback begins as President Clinton leads an Irish charge --Powerful Fortune 500 leaders show way forward for Irish economy

Posted on Friday, February 10, 2012 at 07:50 AM
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Bill Clinton pictured alongside Irish leaders yesterday in New York

Mark February 9th as the day the Celtic Comeback began.

That was the day in New York that former President Bill Clinton gathered the rich and powerful in American business and delivered them on a silver platter for the Irish government leaders including Prime Minister Enda Kenny and Foreign Minster Eamon Gilmore as well as Jobs Minister Richard Bruton.

Clinton was delivering on a commitment made in September when he attended the Irish Diaspora Economic Forum in Dublin and promised to pull out the stops in an effort to help out Ireland's foundering economy.

On Thursday he delivered, filling a meeting hall at New York University with 25 top executives eager to hear about investing in Ireland .

The president was eager to share his insights that Ireland, like the US, has one of the youngest demographics in the western world and that the educational level is among the highest. People are investing not just for the present but for the future he stated. Many companies were now looking overseas again and Ireland had to get on their radar.

Robert Rubin, his former Treasury Secretary, was there and made a valuable contribution.

Rubin stated he had not really studied the Irish situation until a few weeks ago but he believed the country was dealing with its problems in an admirable manner.

Also there were top executives from Merck, Dow Chemical, Bank of America.

The morning meeting on the 8th floor at NYU university bore the hallmarks of a well-rehearsed sales job.

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First up were CEO's from companies with operations in Ireland telling those thinking of investing there how well they had done.

Leading that charge was Donald Keough, the legendary former president of Coca Cola, who pioneered the multinational invasion in Ireland back in the 1970s.

When Keough talks people listen. These days he is Chairman of Allen and Company, the powerful investment bank, and no one does more to promote his beloved Ireland.

Wilbur Ross the billionaire investor and turnaround specialist seemingly believes in the Irish mission also, as he was vocal in his support of what the Irish government has done to combat the tide of negative news.

After the meeting the three Irish government leaders repaired down one flight of stairs to address 100 leaders in the Irish American community on the Irish economy.

There were joined by Clinton who offered a reprise of the remarks he had made upstairs.

Loretta Brennan Glucksman of the American Ireland Fund praised the IDA, the Irish industrial development agency for the amazing work they continued to do attracting jobs and also the government's emphasis on the importance of philanthropy.

Not coincidentally, IDA news of 485 new jobs in various parts of Ireland was made public on Thursday.

I asked the Irish leader and his colleagues what was the best advice they had heard and the most common criticism at their meeting.

Enda Kenny stated that telling the truth about the financial morass, not gilding the lily and telling it straight was the best advice and one he was adhering to.

Foreign Minister Gilmore stated that the most common criticism was not focusing enough on the skill of the workers themselves who got very high marks from the multinational leaders for their commitment to the job.

Kieran McLaughlin, CEO of the Ireland Funds, summed it up when he stated that what he was hearing was the beginning of what he called the "Celtic Comeback."

And not before time we all thought. Enough of the doom and gloom and more of the American can-do.

See more: Irish economy, Bill Clinton, Enda Kenny



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44 Comments

15 - 44 | See all comments

BARNEYKX | Feb 27, 2012, 04:51 PM EST
the irish tiger has been skinned and is now a rug in some government officials living room

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dan Breen | Feb 20, 2012, 01:36 PM EST
I would not trust Clinton ! He and his gang are all smoke and mirrors! He looking to make a quick buck !

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upsceach | Feb 14, 2012, 01:49 AM EST
That was the best laugh I've had in a while. some of the comments were mighty. Go raibh maith agaibh.

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gobdawpaddy | Feb 13, 2012, 08:29 PM EST
Packing my case on Wednesday and returning to the US. Had a fun time in the Emerald Isle (always do). Pity the animosity of certain natives here. Hope we can add a few jobs to our Irish operation to give some tiny help to Ireland's recovery, wish we could do more. Delighted at president Clinton's active interest in Ireland. I hope it produces results.

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seanomelb | Feb 13, 2012, 05:05 PM EST
Gobdaw you should be canonised, St.Gobshite of the urinals and bullsh!te

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sirpeter | Feb 13, 2012, 12:21 PM EST
Why don't you pack your case.That's a better idea.

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gobdawpaddy | Feb 13, 2012, 08:59 AM EST
I rest my case.

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PolinDeB | Feb 12, 2012, 09:19 PM EST
We need a stable indigenous industry base.. not help that will disappear as the next Ireland moves in ;0 Still you got to love Clinton for being there ;0

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sirpeter | Feb 12, 2012, 07:53 PM EST
Gobshite.You think you have decorum?Well you don't.Just because you don't use certain words in your comments doesn't mean it's not full of profanity.Your comments are vulgar and irreverent.So fu*k you.By the way don't watch TV~Read books~or listen to any modern day music.Loads of profanity there.

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sirpeter | Feb 12, 2012, 07:31 PM EST
Well Done!!Kinvara7

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angrypaddy | Feb 12, 2012, 01:19 AM EST
Reinvent the delusion

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angrypaddy | Feb 12, 2012, 01:17 AM EST
Oh great another Celtic Tiger on the way!!!

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kinvara7 | Feb 11, 2012, 07:49 PM EST
@Ciara: IC very rarely miss the potato stories. Then again, we all enjoy a good potato story! Oíche mhaith.

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ciaradexy | Feb 11, 2012, 06:21 PM EST
Still no mention of a potato or an alcoholic in your posts Kinvara!

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kinvara7 | Feb 11, 2012, 05:43 PM EST
Niall: Here is another good news story that Irish Central missed: Irish firm Ocean Energy closed a landmark deal this week to provide a multi-million euro device for the world’s largest offshore marine energy test site off the Cornwall coast. It expects to deploy a full-scale device off Cornwall by the end of 2012. Ocean Energy's device, called an OE Buoy, uses the oscillating water column principle. As waves enter a sub-sea chamber, they force air through a turbine on the surface, generating electricity. The technology has only one moving part, minimising maintenance costs. Each OE Buoy has the capacity to generate sustainable energy that will power up to 1,200 homes. The device was developed with the assistance of Irish government funding and expertise at the Hydraulics and Maritime Research Centre in University College, Cork. Ocean Energy chief executive John McCarthy said the deal was a “major achievement for Irish technology”, and added that the rigorous testing to which the device was subjected had been key to winning the contract. “Ireland, with its resources and technical capabilities, has the potential to become the world leader in wave energy and Ocean Energy plans to play its part in making this a reality,” he said.

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