Banks plan for arrears; retailers push to open; and watchdog counts Covid cost – The Irish Times

Banks are writing to write to borrowers who have availed of payment breaks during the Covid-19 crisis, urging those who feel they will not be able to return regular payments after a six-month pause to engage on finding longer-term solutions at the prodding of the Central Bank, writes Joe Brennan.

And retailers have urged the Government to accelerate the reopening of the economy by allowing all shops to reopen from June 8th, as long as they have prepared measures to operate under social-distancing measures. Mark Paul reports.

As the economy moves carefully back to normality, Ireland’s budgetary watchdog has said the incoming government faces the prospect of having to push through almost €11 billion of spending cuts and tax increases to balance the books of Ireland Inc, writes Joe Brennan. But first we need a stimulus programme that could cost €10 billion, the Irish Fiscal and Advisory Council says.

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