John Whelan: Red-hot inflation and weak euro not good for anyone in Ireland

A weak euro is one of the pain points affecting the profit line of a large range of US corporations located here, reducing the bottom line of their dollar earnings

Apart from the goods produced in the EU and the UK, all imported raw materials as well as all oil supplies, are paid for in dollars.

Following breakneck expansion during the stay-at-home years of the pandemic, tech titans Apple, Amazon, Microsoft, and Facebook are among the global giants, which have a big presence in Ireland, are pulling back on staff and investment around the world as they battle inflation and slowing sales. 

These companies have an outsized presence in the Irish market and hence we can expect that inflation may also cause an outsized impact here.