‘Stimulus needed’ for Irish exports

INDIGENOUS Irish companies need export stimulus packages to survive the trading crisis caused by the collapse of sterling, the Irish Exporters Association (IEA) is demanding.

IEA chief executive John Whelan said that at least 27,400 jobs have been put under threat, with thousands more workers already on three-day and four-day weeks to cope with thesterling crisis.

Mr Whelan said Irish exporters to Britain have effectively lost €200,000 from every €1 million in sales over the past 12 months. Yesterday’s 93.5c valuation of the pound means sterling has fallen 21% since this time last year.