There are other changes we need to make and deadwood we need to remove. The most significant of these is that we need a change in ethics, particularly in Irish business. We got into banking difficulties and difficulties with the property bubble because people were thinking of themselves and not of the consequences of their actions. People chased targets such as performance bonuses and high pay returns rather than thought about the consequences of the business decisions they were making. This will have to change in Irish business as we move out of the Celtic tiger period into a new period where we seek new growth.

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