{"id":3256,"date":"2018-09-28T10:13:22","date_gmt":"2018-09-28T15:13:22","guid":{"rendered":"http:\/\/irishexaminerusa.com\/wp\/?p=3256"},"modified":"2018-09-28T10:13:22","modified_gmt":"2018-09-28T15:13:22","slug":"moran-says-another-recession-is-inevitable","status":"publish","type":"post","link":"https:\/\/irishexaminerusa.com\/wp\/?p=3256","title":{"rendered":"Moran Says Another Recession is ‘Inevitable’"},"content":{"rendered":"

\"\"The former Secretary General at the Department of Finance during the bailout believes another recession is inevitable.<\/p>\n

John Moran said that Ireland is an exposed economy that is very open to international change.<\/p>\n

However, he said a huge difference over the past ten years has been that investment from the likes of vulture funds does not need to be protected by the taxpayer, meaning they are not as exposed.<\/p>\n

Mr Moran believes the reason vulture funds are making all these profits is that the country is poorly structured.<\/p>\n

He said: “We are going to go into a downturn again there is no doubt about that; the world economy will go down and Ireland is an exposed economy.<\/p>\n

“All of the investment that has come in as part of the recovery is now exposed directly to those loses – it doesn’t need to be protected by us.<\/p>\n

“That’s a huge risk change for us as a nation, the taxpayers will not have to protect the so-called investment fund.”<\/p>\n

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