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