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Deciding what businesses will be saved could be dynamite for Government

Richard Curran


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Challenges await: The new Government faces difficult and divisive decisions. PHOTO: JULIEN BEHAL

Challenges await: The new Government faces difficult and divisive decisions. PHOTO: JULIEN BEHAL

Challenges await: The new Government faces difficult and divisive decisions. PHOTO: JULIEN BEHAL

If only we had a crystal ball and could have seen the coronavirus coming. How we would have managed our public finances and economic policy differently is hard to figure.

Now everybody would love a crystal ball to see how will all of this play out for Ireland's future and the global economy in the next few years. Whatever about the hazardous business of predicting the future, some core truths are emerging.

There won't be a V-shaped recovery. The economic shock was more severe than the last financial crisis but the impact may not last as long. Despite our massive national debt of €200bn, we are in a reasonably good position to borrow our way through some of this.