The Tanaiste has established a new enterprise strategy group to review Ireland's economic performance.
Mary Harney says the review will involve a wide ranging examination of all aspects of the economy including growth, employment, inflation and competitiveness.
She said that the new group had the capacity to be the catalyst that would catapult Ireland to the forefront of the world's leading knowledge driven economics.
The review group will be chaired by the industrialist and businessman Eoin O'Driscoll, who is the former managing director of Lucent in Ireland.
The group is expected to report within six to nine months and will operate along similar lines to the Culliton Review of the economy which reported in 1992.
