Wednesday April 1, 2020

Why a Covid-19 recession would be different

With supply chains for parts and products beginning in factories that have been shut down in China, fiscal attempts to boost consumer confidence won’t work. People can’t buy things that aren’t there

8th March, 2020
“The OECD believes that the computer, electronics, electrical equipment and transport sectors will be especially vulnerable.” Picture:Getty

Last Tuesday, the Taoiseach struck a tentative note, suggesting that the coronavirus outbreak “could result in a slowdown in growth in Ireland and a slowdown in global growth”.

Leo Varadkar’s cautious concern was echoed by the Minister for Finance the following night in his speech to Chartered Accountants Ireland. Paschal Donohoe described the public health issue as “the single most important near-term challenge facing the world economy”.

Here’s why...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

If the crisis lasts for about three months, most Irish media outlets will be able to survive. Any longer than that, and it will be game over for many of them

Willie O'Reilly | 3 days ago

The new emergency wage supports for business being run by the Revenue cover a range of self-employed individuals and their circumstances, and designed with business preservation in mind

Brian Keegan | 3 days ago

We must use all the policy tools in our arsenal – and in a radical way – to get back on track as quickly as possible

Harry Goddard | 3 days ago