The pound edges closer to parity with euro

THE sterling crisis notched up a gear yesterday, as the pound edged closer to parity with the euro, sinking to a record for the ninth day.

The British currency fell 3% to 95.5 pence per euro for the first time yesterday sparking outrage among business and tourism groups in Ireland.

Davy analyst Rossa White said it is disastrous news for Ireland’s indigenous exporters and for the tourism industry here. He said about 18% of Ireland’s goods exports and 17% of service exports go to Britain while British tourists account for 50% of visitors to Ireland.