Former IMF deputy director general Donal Donovan said he believes it is possible for a “fairly quick rebound” once the coronavirus crisis passes and confidence returns to the Irish economy. Mr Donavan said that this crisis is quite unlike the situation in 2008/2009, when banks went bust, the construction industry collapsed and there was huge…
Tag Archives: Economic welfare
The country’s five retail banks may extend loan repayment breaks to help homeowners cope with the impact of the coronavirus to six months from the three months currently in place, the head of their representative body has said. The banks agreed the measure in the middle of last month and had granted or were close…
More than 45,000 mortgage payment breaks have been or are about to be given to borrowers suffering financial difficulty as a result of the Covid-19 pandemic. According to the Banking and Payments Federation Ireland (BPFI) this represents approximately 5% of the total mortgage market here. The initiative is being operated by all five of the…