EIRE LIVING ON CAPITAL
WARNING IN CENTRAL BANK’S REPORT (Rec. 7 p.m.) DUBLIN, August 31. Eire had begun to live on capital, said the chairman of the Government Central Bank (Mr Joseph Brennan). This was revealed in the bank’s statement for the year ended March, 1948, in which it was shown that Eire lived on capital to the extent of £30,000.000 to £40.000,000 in 1947. Mr Brennan’s report said that most serious notice should be taken of the position. The only solution was expansion of exports or reduction of imports.
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Press, Volume LXXXIV, Issue 25589, 2 September 1948, Page 5
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90EIRE LIVING ON CAPITAL Press, Volume LXXXIV, Issue 25589, 2 September 1948, Page 5
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