Central Bank warns of more business closures if Covid-19 restrictions remain

Mark Cassidy, the bank’s head of economics and statistics, said keeping restaurants and pubs closed for three more months could have devastating consequences for Ireland’s economy

4th July, 2021
Central Bank warns of more business closures if Covid-19 restrictions remain
The planned reopening of indoor dining for restaurants and pubs was abandoned last week amid concerns over the potential impact of the new Delta variant of Covid-19. Picture: Getty Images

There will be a “significant increase” in the number of hospitality businesses closing permanently if the existing indoor dining restrictions remain until September, the Central Bank of Ireland has said.

In a stark warning, Mark Cassidy, the head of economics and statistics at the Central Bank, said that keeping indoor hospitality for pubs and restaurants closed for the next three months would lead to additional scarring of the economy and risked pushing workers...

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