Speaking on RTÉ's The Business, Mr McCarthy said he would be more pessimistic than the ESRI, which warned that a severe period of economic disruption should last 12 weeks and then be followed by a period of sustained recovery over the winter and into early next year.Mr McCathy said Ireland was pulled out of the financial crash in 2012-2013 by foreign demand.
He expressed concern that without the same "bounce back" in external demand, a recovery could be slow. He said if the US economy is badly affected Ireland will be impacted as it is "more exposed to the US economy than any other country in the world". The economist said it is "extraordinary" for President Donald Trump to put an end date of 12 April on restriction measures given the type of virus it is.
Mr McCathy said the European Central Bank has a key role to play and must show a willingness to stabilise the sovereign bond market in Europe.
All economists should be banned from makings predictions until the crisis is over. “I told you so”
Meanwhile some of us are trying to stay alive
Why give this creep airtime? The most miserable excuse of a so called economist ever!
Shut da feck up Carthy heard enough of your waffle during and at the end of the Celt tiger go cocoon yourself !!!!!!. On second thoughts don't bother cocooning
America will do our best. Things have been extremely poorly managed here in USA at Federal level, but many of our state leaders NYGovCuomo GovofCO GovWhitmer etc are excellent. The key unknown is when will we get adequate tests and whether we have enough medical supplies.
Oh be quite this isnt helping anybody only making ppl worry more
Our health is utmost priority now and for the immediate future. Let us put the negative comments about the economy on hold till we get out of this situation. We need cheering up and laughter. The economy will always be there
Paddy Reilly’s long lost brother ...?
Really no need for this type of predicted doom. Serving no purpose as most people in private sector stare in to the abyss.
Swift recovery of the American economy ? the Covid-19 virus just added 2 trillion to the American debt .The world economy will collapse because of Covid-19.
Thanks captain obvious
Why Ireland is so dependent of US Economy. It is because it is a “tax heaven” of big corporations like Facebook and Google. In European Union there should be one only fiscal policy.
I agree with McCarthy, and to listing to some Politicians here in Ireland, to use the so call Apple Fund, would be, MADNESS. To bite the hand that would feed you. lucky these politicians are not in office.
China expected to have V curve....
feicin yanks lol, jeez can we have more poetry please or some young fella catching a ball. we all love that stuff
Certainly true for Tourism IHFcomms Irishtourismind
never herd some look for recession as much as that clown
RTÉ bringing out Dr doom. He wanted the western rail corridor closed it now has half a million customers.
Only if we decide to. No reason at all that we can't be self sufficient as a country. Being completely dependent on other countries we have no say in the governance is ridiculous. If you went with a business plan along those lines you wouldn't get any capital to start up
No need to worry then , they'll be up & running be Easter 🤪🤯🤯
See Previous.!
Can RTE hold off with the forecast of bad news for next 2 weeks. Not what people want to hear right now. No disrespect to Colm McCathy but take a day off!
Ole misery guts to the er...rescue 🤔
Maybe we should give the world richest people a nice house each on a nice plot of land. Tell them thanks and then just distribute their wealth equally?
Will there still be an American economy?
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