Setting pace, Ireland predicts December exit from bailout

"If Ireland can’t make the strategy a success, it’s difficult to see who can in the eurozone," said Simon Tilford, deputy director of the CER. "It’s a highly flexible, export-led economy with high levels of social cohesion and good governance."

He added: "For the eurozone, things are still in the balance, and the outlook for growth looks very weak. The recession does appear to be coming to an end, but there is a difference between that and a sustained economic recovery."