ECB intervention is 'critical' in offsetting Covid-19 borrowing costs for Ireland     

Kieran McQuinn, research professor at ERSI Photo: Sasko Lazarov/Photocall Ireland

The critical role the ECB is playing in buying government bonds across the eurozone that ensures Irish sovereign costs are kept at historically low levels will be "significant" in ensuring Ireland emerges from the Covid-19 crisis, the Economic and Social Research Institute (ESRI) has said.    

It comes as ECB President Christine Lagarde on Thursday said it has an additional €500bn in bond-buying approved to safeguard the eurozone from a potential Covid-driven slump.