Irish tourism and small exporters face into sterling storm

Irish experts fear that the fright taken by financial markets reflects fears that the British economy is heading toward a prolonged recession

Professor Kieran McQuinn at the ESRI said the new British economic policy "doesn't appear to be coherent".

Irish firms exporting into Britain and tourism visitor numbers are the most vulnerable to a full-blown sterling crisis.

The British currency plunged for a second day as financial markets questioned the economic credibility of the new British government led by Prime Minister Liz Truss which last week cut personal taxes and reversed planned tax rises at a time of roaring inflation.