Dollar ‘could plunge by 30%’

IRELAND Inc must prepare for a massive fall in the value of the US dollar against the euro which could see the US currency fall by 30% or more.

This was the stark warning issued by Economic and Social Research Institute (ESRI) economist Shane Garrett at the Dublin Economic Workshop 28th annual economic policy conference in Kenmare.

He believes the evidence available suggests a large depreciation of the dollar is the most effective way of reducing the unsustainable US external imbalance.