Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.
Factsheet for measure IE-2020-12/823 – measures in Ireland
|Country||Ireland , applies nationwide|
|Time period||Open ended, started on 18 March 2020|
|Type||Other initiatives or policies|
Supporting businesses to stay afloat
– Access to finance
|Author||Roisin Farelly (IRN Publishing) and Eurofound|
|Measure added||06 May 2020 (updated 19 May 2021)|
A well functioning banking system is key when it comes to bringing the economy back on track in the context of the COVID-19 crisis. In Ireland, the Minister for Finance Paschal Donohoe therefore agreed with large banks in the country on a range of measures to be introduced. These include a payment break of up to 3 months, deferment of court proceedings and the provision of working capital with the aim that critical functions of the economy continue to operate.
The measures being introduced by the five main banks (AIB, Bank of Ireland, KBC, Permanent tsb and Ulster Bank) are as follows:
Currently no information available.
|Does not apply to workers||Does not apply to businesses||Applies to all citizens|
Company / Companies
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Role||No involvement as case not in social partner domain||No involvement as case not in social partner domain|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
Social partners are not involved in this measure.
Eurofound (2020), Banks introduce measures to cushion effects of COVID-19, measure IE-2020-12/823 (measures in Ireland), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/IE-2020-12_823.html
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.