METRO FREE Friday, October 30, 2009 MAGEE MID SEASON SALE 25%OFFMUST END SUNDAY Dundrum Town Centre Wicklow Street Arnotts, Henry Street E s t . 1 8 6 6 HELP METRO HELP THE ENVIRONMENT. RECYCLE THIS NEWSPAPER TODAY INSIDE TODAY See Page 12 Win tickets to Toys 4 Big Boys at Dublins RDS See Pages 12-13 PLUS MetroLife at the movies FEARS about the economy may have been overcooked, business leaders have admitted. In an upbeat assessment, the Irish Business and Employers Confederation said the recession will end next year. But Ibec insisted painful cutbacks particularly to wages are still needed to drive the cost of living down and allow Ireland to compete with other countries again. Apart from that, Fergal OBrien, Ibecs senior economist, said the economic forecast for next year and 2011 was better than expected. The world economy is pulling out of the worst recession since the Second World War, he said. This is great news for an open economy such as Ireland indeed, our worst fears may turn out to have been just a little overcooked. Mr OBrien predicted the downturn would not be as bad as expected next year and joblessness would not get any higher than 14 per cent. The economy will pull out of recession during 2010 and return to annual growth in 2011, he added. The comments came as economists yesterday predicted the US economy would finally return to growth in the third quarter of this year. He insisted continued high costs in Ireland were making it difficult for companies to sell goods and services abroad. Much-needed improvements to the sale of ex- ports required painful corrective action, he warned. Ireland has no option but to cut our cost and wage levels closer to those of our trading part- ners, added Mr OBrien. BY ELLEN OREILLY Economic crisis is overcooked Senator Shane Ross, Today FM presenter Matt Cooper and Irish Times assistant editor Fintan OToole are combining a book launch with a debate, entitled Four Angry Men The State Of The Nation in the National Concert Hall on Wednesday. The fourth panellist will be Sunday Business Post political editor Pat Leahy. Tickets are available from NCH.ie Picture: Bryan Brophy NO EScAPINg ThESE ANgRY MEN index.html2.html3.html4.html5.html6.html7.html8.html9.html10.html11.html12.html13.html14.html15.html16.html17.html18.html19.html20.html21.html22.html23.html