A new economic research institute, linked to the trade union movement, has proposed a €20 billion, all-island investment programme to help restart the domestic economy.
The Nevin Institute of Economic Research says the investment could be funded by a mix of public and private sources in a way that would not add to the national debt.
The institute is named after trade unionist and economist Dr Donal Nevin.
It is concentrating on job creation as the most urgent aspect of the economic crisis.
In its first commentary it proposes an investment programme in energy, telecommunications and water infrastructure across Ireland aimed at creating jobs and lowering costs for businesses.
It says the funds needed - €15 billion for the Republic of Ireland, €5 billion for Northern Ireland - could come from the national pension reserve fund and semi-state companies, from the European Investment Bank and from private sources, notably Irish pension funds, most of whose investments are abroad.
Such funding would not add to the state's debt pile, and it says the investment programme would increase confidence in the economy among communities and individuals.
