Tuesday June 2, 2020

Raft of measures may not be enough to keep the world’s economies afloat

Further action may be needed to prevent the Irish economy being sunk, particularly when the global economy remains vulnerable

Ian Guider

Markets Editor


Barry J Whyte

Chief Feature Writer

15th March, 2020
Meric Greenbaum, a designated market maker, at the New York Stock Exchange: trading on Wall Street was temporarily halted early last week as US stocks joined a global rout on crashing oil prices and mounting worries over the coronavirus. Picture: Getty

By Friday night, the damage done to global financial markets exceeded even the worst week of the financial crisis in September 2008. In the space of five days, trillions of euro had been wiped off the value of European, American and Asian markets.

In Dublin, 28 per cent was slashed from the value of Ireland’s biggest companies –including banks, property and food companies. In London the carnage was even greater, with the index of 100 biggest...

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