Financiers highly critical of ESRI report

Financial experts have accused the Economic and Social Research Institute of taking an overly pessimistic view of the economy.

A report by the government think tank has warned of a possible recession and a property crash.

Government Ministers have been playing down fears that the prophecy will become reality and push unemployment up to ten percent.

The South Dublin Chamber of Commerce is of the opinion that the ESRI report is nonsense.

President of the Chamber, Deirdre Mooney said that research has indicated that there will be a 10% increase in property prices in 2006 and she cannot see any reason why there would be a crash in the property market in the next year.