Reduce the Minimum wage and make appropriate adjustments to social welfare: Income levels have reduced across the board and must reduce further if Irish competitiveness is to be fully restored. The fall in incomes in 2009 have distorted existing replacement ratios and an unchanged minimum wage acts against the downward direction of all incomes in restoring competitiveness. If incomes do not reduce the only other outlet for lost competitiveness in a single currency is higher unemployment.
http://www.finfacts.ie/biz10/IBEC_Pre-Budget_Submission_2010.pdf