The economy could be rebooted quickly following the coronavirus outbreak, if the right measures are put in place now.
That’s the view of IBEC as the Finance Minister prepares to meet with the banks later this afternoon.
Addressing the nation last night, the Taoiseach said the impact to our economy will be significant and lasting.
IBEC’s Fergal O’Brien says we can bounce back, if the right measures are put in place now.
There are calls for commercial rates payments to be suspended, but Business Minister Heather Humphreys says business owners should continue to pay if possible.
Finance Minister Paschal Donohoe will meet with the heads of AIB, Bank of Ireland, Ulster Bank, KBC and Permanent TSB at 4 o’clock to see what measures can be put in place to help those financially impacted by the outbreak.
It’s understood a three month freeze on mortgage and business loan repayments is being considered.