Ireland’s global standing hit by recession

IRELAND’S reputation has been damaged globally since the start of the economic downturn, according to the multinationals operating here.

A survey released by the Irish Management Institute (IMI) and National Irish Bank found 57% of multinationals operating in Ireland believe the country’s reputation has diminished over the last year while 11% said it has radically worsened.

Two out of five firms believe Ireland’s long-term economic stability will be weak, with pessimism stronger among Irish rather than foreign-owned multinationals.