Ireland Readies Some of Europe’s Toughest Virus Curbs
Ireland Readies Some of Europe’s Toughest Virus Curbs
(Bloomberg) -- Ireland is set to introduce some of the toughest curbs in Europe in a renewed effort to curb the spread of the coronavirus.
The cabinet is due to meet on Monday to finalize the restrictions, after health authorities recommended a move to the tightest lockdown tier, Level 5, as cases surge. Amid concern about the economic and social implications of a return to near-full lockdown, the government may opt for a mix of Level 4 and Level 5 measures.
“There is a big hit to the economy, and that has to be paid for,” Europe Minister Thomas Byrne said in an interview with broadcaster RTE on Monday. “It is incumbent on the government on to consider every single ramification of this before it’s done.”
Most of the country is now at Level 3 and going to 5 would see non-essential stores shuttered, all bars closed and travel restricted to within 5 kilometers (3.1 miles) of one’s home. A mix between the two levels could mean most stores close, but people could exercise further than 5 kilometers from home and some sport would be allowed to continue. Schools will stay open, Byrne confirmed.
Governments across Europe are toughening restrictions to fight the pandemic. In London, rules took effect banning people from mixing with other households indoors, while in Paris and eight other French cities, residents must stay home between 9 p.m. and 6 a.m. for four weeks. In Northern Ireland, schools have closed.
Ireland posted 1,283 cases on Sunday, taking the nation’s total close to 50,000.
“Level 3 has not worked,” Higher Education Minister and former Health Minister Simon Harris told broadcaster RTE on Sunday, adding the government would take “decisive” action on Monday.
Shares in Irish banks due to report third-quarter earnings next week dipped, with Bank of Ireland Group Plc dropping 1.14% to 1.82 euros in Dublin at 9 a.m.
“Any sense that the banks might have been able to accentuate the positives next week is now likely to dissipate as they closely monitor tighter economic conditions,” Eamonn Hughes, an analyst at Goodbody Stockbrokers in Dublin, said in a note.
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