When I left Ireland in 1971 the per capita GDP was two-thirds of the European average. A year ago, it was 130% of that of Germany. All this was achieved in a generation through combining brave and visionary policy decisions with the commitment of talented and energetic young people.
Yes, there was excess. Yes, we forgot that you must put something aside for the inevitable rainy day. But let's not lose sight of what was achieved, and let's have the confidence to learn the lessons from some clear mistakes.
The talent and energy are undiminished. It now requires a special kind of leadership which puts aside the petty divisions of conventional politics. This is an economic war, which can be won, but only with a unity of purpose and a commitment to the common good. Someone once said: "There is no limit to what a man can achieve as long as he does not care who gets the credit".
That spirit must now be invoked. The Irish people have overcome insurmountable odds many times in their history and with self-belief and selflessness will do so again.
Niall Fitzgerald is deputy chairman of Thomson Reuters