The Front Pages
The Irish Independent is up to its usual, incredibly depressing tricks this morning, with their front-page headline reading ‘Force banks to lend or face ‘decade of misery’. The Economic and Social Research Institute (ESRI) have urged the government to force banks to lend towards businesses, as further joblessness and crippling debt face the country if credit does not flow.
The economic think-tank have also pleaded that Finance Minister consider a tougher budget for next year, even though €3bn in cuts are already promised. The one man who apparently had seen it all ahead of time, who warned us of further catastrophe, David McWilliams weighs in with his views on the ESRI’s recommendation also.
Elsewhere, The Irish Times picks up on the ESRI’s report with a more positive spin, running a front-page article that suggests unemployment could fall to pre-recession level by 2014. It is important to note, however, that such a scenario is only possible to the ESRI if the aforementioned recommendations are to be taken.
The main headline in the Times today reads ‘Gilmore rules out coalition deal with Fianna Fáil’, after Labour leader Eamon Gilmore categorically told the paper he would not consider a coalition between his party and Fianna Fáil after the next election. Gilmore also states that he believes a Labour/Fine Gael coalition is the most likely outcome after the next election.
