Ireland's US relationship "an example" to the EU

   Attendees at an American Chamber of Commerce lunch heard how Ireland's positive framework for attracting US investment could serve as a model for the EU generally, and that such favourable policies must by supported by economic reform and not stymied by more regulation. Addressing the event, which was sponsored by Anglo Irish Bank, Glen Dimplex chief executive Sean O'Driscoll insisted that change should be encouraged, not prevented. "What presently differentiates many European countries from Asia and the US is a reluctance to change", he said. "Policy-makers must embrace forward-looking monetary and fiscal policies like Ireland and Britain have done". Ciaran Ennis, president of the American Chamber of Commerce, added: "Currently Ireland is perceived by US multinationals as a country that believes in essential regulation but not over-regulation. On looking further afield in Europe they find that not every European country believes in all of these things. The challenge for Government is to ensure that legislation from Brussels remains pro-business and that Brussels' one-size-fits-all policy does not strangle the economic growth potential which currently exists". He also said that government initiatives such as Science Foundation Ireland (SFI) and the R&D tax credit system were positive steps in developing stronger research links between industry and education.