The Taoiseach today declared Ireland's future remains in its own hands and said his Government is determined to rebuild a strong and sustainable economy.
Speaking in Brussels at a business forum on IT for health care, Brian Cowen said Ireland was dealing with "a uniquely complex set of circumstances" in a "serious and determined" manner.
"Last week, we provided certainty on the final costs of repairing our banking system. The costs involved are serious, but they are manageable. Getting banking back on track is an indispensable step in Ireland’s journey to economic recovery," he said.
"Restoring sustainability to our public finances is equally important. We have already made significant adjustments in spending."
Mr Cowen told his audience that despite the economic environment of the past two years, Ireland’s exports "generally have held up very well and are now showing significant growth again" thanks to improvements in the State's competitiveness.
"Ireland’s future is based on developing to the full our potential for sustainable growth. Addressing our public finances and banking situation are important ingredients. But there are many others, not least the quality, skills, flexibility and resilience of our people.
"One of our continuing strengths is our young population. They are bright, innovative and well-educated, with record numbers now attending third-level colleges. These are the generation that will shape Ireland’s future. Our extensive indigenous company base is another important strength," Mr Cowen said
"Our future remains firmly in our own hands. On the evidence before me today, I have every confidence that our business community will grow an prosper once again."
The Taoiseach said Ireland's "severe economic correction" was also an opportunity to restructure its economy toward sustainable growth based on higher productivity.
He noted a report of the Government's innovation taskforce, published earlier this year, cited e-health and life sciences as sectors in which the State is in a position to develop.
