However, this supply chain blockage is not limited to China and will occur in almost every country across the world. And on the monetary side, central banks around the world have reacted by cutting interest rates or ramping up quantitative easing. The important point here is that the central banks including the ECB are supporting banks to continue to finance households and businesses in these unprecedented times. It is not so long ago that Irish taxpayers bailed out the banks. Let's hope they step up to the plate and do the right thing, for the economy and for society.

Source: Irish Independent March 18, 2020 02:26 UTC