EC report warns of imbalances in Irish economy
A new report from the European Commission is warning that decisive action must be taken to address imbalances in the Irish economy.
The review is being published today and will show that despite improvement, risks still exist - including unemployment, concerns about the banking sector and the high level of private and public debt.
The Irish Times reports the Commission is also raising concerns about the funding model for Irish Water, warning it may not be in a position to fund and borrow on the markets.
This in-depth review to be published by Brussels finds that despite the improvement in Ireland's economic outlook - a lot of work remains to be done.
It says there are a number of risks to recovery - including high structural unemployment, public and private debt levels and lingering concerns about the state of the financial sector.
The Commission is calling for the Government to take "decisive action" to address its concerns - including its claim that Irish Water will be dependent on centralised funding for "some time".
It also says the extent to which the utility will be able to borrow on the markets is "unclear".
The report also highlights a skills gap in technology - and calls on the Coalition to press ahead with Junior Cycle reform.
