From a predictably boosterish analysis of Ireland's economy by Davy (stockbrokers) --
It is critical in the context of Europe-wide fiscal tightening that Ireland follows through on its planned adjustments. Not only must the consolidation appear feasible, it must also compare favourably to the fiscal retrenchments in other countries that will compete with Ireland in the same debt markets: it must be a "competitive consolidation".
Competive Consolidation. It's the new black. Or rather the new Competitive Devaluation.