ICTU warning against talking economy into crisis

The General Secretary of the Irish Congress of Trade Unions has today warned against talking the Irish economy into a crisis.

Today the Minister for Finance, Charlie McCreevy, warned that Ireland's period of unprecedented economic growth has peaked.

He also cited the US economy, the outbreak of foot-and-mouth and the economic crisis in Japan as the most significant factors causing the slowdown.

Peter Cassell said the Irish economy should be looked at more as one in transition rather than a downturn.