Saturday August 8, 2020

Rescuing the economy demands rapid, large-scale intervention

To prevent the economic impact of Covid-19 from becoming a permanent problem, the government must act decisively now to support both businesses and workers

Ian Guider

Markets Editor

@ianguider
22nd March, 2020
2
Paschal Donohoe, speaking about the shared national effort required from government, trade unions and employers Picture: PA

The memory of the economic collapse that Ireland experienced more than a decade ago can be traced to a single moment: the issuing of the blanket bank guarantee in September 2008. Everything that befell the country afterwards was a direct consequence of that decision.

It set the scene for an unprecedented economic malaise. At its worst, some 15 per cent of the workforce was on the Live Register by 2012. The figure would have been even...

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