Saturday 21 April 2018

Back to reality on economic doom and gloom

Yesterday's announcement of more than 170 job losses at pharmaceutical company Pfizer, cutbacks at Bus Eireann, the appointment of an examiner to DIY chain Atlantic Homecare and the apparent ruling out of a deal on Irish bank debt by ECB president Mario Draghi represent an abrupt return to reality for the Government after the euphoria of the referendum victory.

In the run-up to last week's poll, the Government -- not unnaturally -- accentuated the positive in its campaign to secure a Yes vote.

However, when pressed, government ministers conceded that the economic outlook remained difficult.

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