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Stark growth warning from ESRI

The ESRI has warned that Ireland is on the brink of another recession unless action is taken to deal with the euro crisis.

The government think-tank says Ireland’s road to recovery will become
much more difficult because of the financial crisis gripping the Eurozone.

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It predicts only marginal growth next year, along with a further
weakening of the employment market, and emigration of over 700-people per week.

Research Professor Joe Durkan says unless action is taken by the ECB
to buy government debt, and recapitalise European banks – Ireland is likely to follow the rest of Europe into recession:

 

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