Is Iraq the best way out of recession for Ireland.
This may seem like a mad idea, but consider the facts.
Ireland is the most oil dependent country in EU.
Ireland has a surplus of experienced builders looking for work.
Ireland needs to borrow a few billion over next couple of years to balance its budget.
Ireland needs to look to new markets as the old reliables - EU & US are in a slump.
Iraq has a surplus of oil.
Iraq has a dire shortage of experienced builders and has a massive reconstruction/development programme underway.
Iraq will have an estimated budget surplus of $79bn in 2008.
Iraqi government is seeking foreign direct investment and closer links with western countries.
Seems like a dream solution - a bilateral agreement between Ireland and Iraq whereby we get favourable loan terms to borrow some of their surplus cash, cheap oil and access to their domestic market.
Iraq gives work to Irish builders thus accelerating their reconstruction and access to western contacts/knowledge.
I know some people will go on about the security situation, but the reality is that everything has quietened down in recent months - Iraq is not really any more dangerous for foreigners than many similar developing countries. And as the economy is picking up and more people are finding work, the security situation will improve even more dramatically - there is a direct link between improved economy/secure employment and reduction in violence.
You may recall that one of the newpapers here recently published an article saying that the Iraqis are now selling holiday homes to foreign investors. International trade and conference centres are a big part of the reconstruction efforts in Iraq, which shows their future intentions. In the same way that the Marshall Plan turned Germany around very quickly, it looks like the same is possible in Iraq. Any investment there now will reap huge rewards in future decades.
Dont knock this idea, its not as crazy as you might think. We help their reconstruction, they help our oil/cash problems. Win win situation. Also, we dont have any serious "baggage" when it comes to dealing with middle eastern countries.
If we dont take advantage of this, someone else will.
This may seem like a mad idea, but consider the facts.
Ireland is the most oil dependent country in EU.
Ireland has a surplus of experienced builders looking for work.
Ireland needs to borrow a few billion over next couple of years to balance its budget.
Ireland needs to look to new markets as the old reliables - EU & US are in a slump.
Iraq has a surplus of oil.
Iraq has a dire shortage of experienced builders and has a massive reconstruction/development programme underway.
Iraq will have an estimated budget surplus of $79bn in 2008.
Iraqi government is seeking foreign direct investment and closer links with western countries.
Seems like a dream solution - a bilateral agreement between Ireland and Iraq whereby we get favourable loan terms to borrow some of their surplus cash, cheap oil and access to their domestic market.
Iraq gives work to Irish builders thus accelerating their reconstruction and access to western contacts/knowledge.
I know some people will go on about the security situation, but the reality is that everything has quietened down in recent months - Iraq is not really any more dangerous for foreigners than many similar developing countries. And as the economy is picking up and more people are finding work, the security situation will improve even more dramatically - there is a direct link between improved economy/secure employment and reduction in violence.
You may recall that one of the newpapers here recently published an article saying that the Iraqis are now selling holiday homes to foreign investors. International trade and conference centres are a big part of the reconstruction efforts in Iraq, which shows their future intentions. In the same way that the Marshall Plan turned Germany around very quickly, it looks like the same is possible in Iraq. Any investment there now will reap huge rewards in future decades.
Dont knock this idea, its not as crazy as you might think. We help their reconstruction, they help our oil/cash problems. Win win situation. Also, we dont have any serious "baggage" when it comes to dealing with middle eastern countries.
If we dont take advantage of this, someone else will.