Dr. Gabriel Fagan:

If everything goes well with this group, we will have a good set of domestic measures, which will give us a much more accurate reflection of what is going on in the domestic economy than looking at headline GDP. Of course that may not automatically be used by other foreign agencies, but there is nothing to stop the Irish authorities from trying to put forward, over time, the idea that supplementary indicators could be used, consistent with this. The first step is to get ourselves a set of indicators that give us a good idea of what is going on in the economy. Then maybe we can think of trying to persuade other countries to look at those, to compile their own, and perhaps to supplement the existing indicators at an international level.