Greek alphabet is holding economic recovery hostage

Delta variant has raised new questions about pace of recovery and longer-term prospects

The longer the pandemic goes on, the greater the damage to key sectors of the economy such as hospitality, retail, leisure and tourism.

The longer the pandemic goes on, the greater the damage to key sectors of the economy such as hospitality, retail, leisure and tourism.

It has been quite a week. The economic recovery is being held hostage by the Greek alphabet – specifically Delta, though there may be an Epsilon and more to come. And it is clear after 130 countries signed up to a corporate tax reform plan that Ireland’s economic model of attracting foreign direct investment (FDI) here is under pressure, presenting a diplomatic path of the greatest delicacy for Minister for Finance Paschal Donohoe to walk.

And so we see dangers to the twin engines of the Irish economy. The lingering epidemic threatens consumer-facing domestic businesses, reshaping key sectors which employ tens of thousands of people. Standing back from the rows about how this was all decided and communicated, the message is clear – we are not out of the woods yet.

The Irish Times
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