The Irish World

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THE VOICE OF THE IRISH COMMUNITY IN BRITAIN

No. 1158

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BREAKING NEWS www.theirishworld.com

23 May 2009

GALWAY V LONDON FIVE-PAGE PREVIEW

IRELAND ‘IN SAFE HANDS’

IRISH VENUES WITH MENUS PAGE 20-21

LIAM BRADY

RICKY TOMLINSON Interview p26-27

Bankers approve Minister’s recovery plans

BY CIARAN FARRELL IRELAND’S Finance Minister Brian Lenihan has received generous and welcome praise for his grip on the nation’s economic recovery plans after a private briefing with major investors in London. They gave a firm seal of approval to Mr Lenihan’s command of the current economic situation in Ireland prompting

him to tell journalists later that he was satisfied that perceptions of Ireland as potentially the weakest link in a weak eurozone were “a thing of the past”. The Minister was in London on Friday on the latest leg of his European tour to build and sustain confidence in the Irish Government’s recovery plans. He attended a private briefing with bankers in the City organised by the

National Treasury Management Agency. Mr Lenihan found agreement among bankers with his view that Ireland’s long-term strength and potential is firmly rooted in the euro. One such banker, Eric Busnel of Dresdner Kleinwort said he thought Mr Lenihan had given “a very convincing” and “polished” presentation on the Irish economic situation and outlook that would

prove reassuring to investors. Another, Nicolas Walewfki of Alkan Asset Management said he too was impressed with what Mr Lenihan had to say. “I think particularly the reduction in labour unit costs is very impressive, and there are very few countries who do that,” Mr Walewfki said. A third, Scott Rankin from Davy Research said he

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