Inflation Rate Convergence
O’Leary asked whether Ireland would act to bring inflation into convergence with other European countries. The Minister said the Government’s growth and anti-inflation policies align with the European Community’s convergence aims.
asked the Minister for Economic Planning and Development if in view of the fact that the convergence of the nation's inflation rate was discussed at the recent summit meeting of the European Council any action tending towards convergence will be taken by the Irish Government.
Comment on this
The meeting of the European Council on 12-13 March 1979 discussed the convergence of economic policies and performance. There was considerable emphasis on the need to reduce inflation. The Council noted that growth is currently strongest in those countries with the lowest rates of inflation. The domestic policies for growth and reduced inflation set out in the White Paper Programme for National Development 1978-81 are consistent with the Community convergence aims associated with the implementation of EMS.