Ireland could be heading for depression - Labour

The Labour Party's finance spokesperson Joan Burton has warned that the Government is "sleepingwalking the country into a depression."

The Labour Party's finance spokesperson Joan Burton has warned that the Government is "sleepwalking the country into a depression."

Burton's comments come after Finance Minister Brian Lenihan last night admitted that the economy is expected to contract by 3% to 4% next year, compared to the 1% contraction forecast in the Budget.