Aengus Ó Snodaigh (Dublin South Central, Sinn Fein)
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Question 94: To ask the Tánaiste and Minister for Finance the specific vulnerabilities he has identified in the Irish economy; and the steps he is taking or proposing to take to address these. [17257/07]

Brian Cowen (Laois-Offaly, Fianna Fail)
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As the Deputy is aware, the Governments of which I have been a member have done a good job in ensuring strong economic growth over the past decade. Part of this success has been due to the ability of these governments to identify and address any issues under their control that might have put that growth at risk. It is my intention that this good work continue into the future.

Of course, as a small, open economy, Ireland is heavily reliant on the health of the international economy and external shocks have the potential to significantly reduce Irish growth. In this regard, my Department is constantly monitoring developments in the world economy. While the current view of international agencies (e.g. the EU and the OECD) for the world economic outlook is benign, we must not be complacent. Our ability to respond to any shock depends on the underlying health of the economy, in particular its competitiveness on international markets. This underlines the need, for example, to take whatever action is feasible to restrain domestic costs to help maintain and restore competitiveness.