Chat Forum
It is currently Wed Aug 15, 2018 4:53 am

All times are UTC [ DST ]




Post new topic Reply to topic  [ 45415 posts ]  Go to page Previous  1, 2, 3, 4, 5, 6, 7, 8 ... 1136  Next
Author Message
PostPosted: Wed Feb 13, 2013 10:09 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21702
Borrowed from the Pin:
Quote:
In Greece, not here. Former Prime Ministers have had their pensions cut by 54.7% and retired MPs are down to less than €2,000 a month with more reductions due in a couple of months. Yet here we are told that this would be impossible. The fact that it can be done in Greece, and that Michael Noonan is quite happy to drive a coach and four through legal contracts and property rights when it comes to dissolving the IBRC, makes it clear that we could do it here too if the will was there. Or if someone (general public or the Troika) really put a gun to their heads. I don't think it would be cynical to say that this prospect was at least partly responsible for FG/Lab choosing to postpone the Promissory Note debts rather than actually trying to dispute their validity in any meaningful way.

http://www.ekathimerini.com/4dcgi/_w_ar ... 013_482752


Top
 Profile  
 
PostPosted: Wed Feb 13, 2013 10:13 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 1390
Location: da nui
how does an irish thread about money become so popular when the only thing they are good at is cutting peat and busking for coins?


Top
 Profile  
 
PostPosted: Wed Feb 13, 2013 10:19 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 42058
hairyweapon wrote:
how does an irish thread about money become so popular when the only thing they are good at is cutting peat and busking for coins?

Been banned from Collision Point ?

Fester, if he hasn't, will you do the necessary ?


Top
 Profile  
 
PostPosted: Wed Feb 13, 2013 10:44 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 1390
Location: da nui
camroc1 wrote:
hairyweapon wrote:
how does an irish thread about money become so popular when the only thing they are good at is cutting peat and busking for coins?

Been banned from Collision Point ?

Fester, if he hasn't, will you do the necessary ?

you might carry more weight if you went and posted there occasionally.


Top
 Profile  
 
PostPosted: Wed Feb 13, 2013 10:51 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 14013
Location: Best country in the world.
hairyweapon wrote:
how does an irish thread about money become so popular when the only thing they are good at is cutting peat and busking for coins?


You're a right sad little fucker, get a life pondy.


Top
 Profile  
 
PostPosted: Wed Feb 13, 2013 11:04 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 34461
Location: Queensland
camroc1 wrote:
hairyweapon wrote:
how does an irish thread about money become so popular when the only thing they are good at is cutting peat and busking for coins?

Been banned from Collision Point ?

Fester, if he hasn't, will you do the necessary ?


With all due respect camroc, you aren't seriously suggesting that HW should be banned on CPR for something he posts on PR, are you? I thought the whole point of CPR was that it was about freedom, craig and anything goes?


Top
 Profile  
 
PostPosted: Wed Feb 13, 2013 2:24 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 42058
Exports at the highest level for a decade..
Quote:
irishtimes.com - Last Updated: Wednesday, February 13, 2013, 13:00
Irish exports top €92bn in 2012

The value of Ireland's exports rose by 1 per cent year on year, while imports increased by 1.5 per cent to ?49 billion, giving a trade surplus of almost ?43 billion for the year.

CIARA O'BRIEN

Ireland's exports reached €92 billion last year, the highest level in a decade, new data from the Central Statistics Office showed.

The value of the country's exports rose by 1 per cent year on year, while imports increased by 1.5 per cent to €49 billion, giving a trade surplus of almost €43 billion for the year.

The rise came even as exports of medical and pharmaceutical products fell by 7 per cent compared with €2011, dropping to €24.5 billion.

"In recent months the focus has been particularly centred on the 'chemicals and related products' sector, given concerns about the potential impact of the patent cliff," NCB chief economist Philip O'Sullivan said.

"These concerns were elevated by industrial production data that revealed a very steep decline in that segment in September, but developments since then have been more reassuring, with production recovering by 40.1 per cent since then."

The US remained the top market for Irish exports, with Belgium and Britain close behind. But exports of goods to Switzerland increased by €1.4 billion, or 38 per cent, as the US total fell by 16 per cent to €18.2 billion.

There was a rise in the value of petroleum imports of €441 million, or 35 per cent, to €1.6 billion. Imports of transport equipment, including aircraft, rose by 6 per cent to €2.5 billion.

Minister for Jobs, Enterprise and Innovation Richard Bruton welcomed the figures, noting that services exports were 11 per cent higher over the first nine months of 2012 compared with the prior year, indicating a stronger year for exports all round.

“A strong export performance will be crucial to delivering the economic recovery we are all working so hard to achieve," he said.

“Conditions in international markets remain difficult, but today’s record figures show that Irish exporters are performing extraordinarily well in a tough environment. Other recent signs including the major jobs announcements we have seen recently show that there are real reasons for optimism about the transition that is occurring in our economy."


Top
 Profile  
 
PostPosted: Wed Feb 13, 2013 7:07 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21702
Quote:
One garda sergeant said he would "definitely sink" if his €57,000-a-year earnings, which include premium pay and allowances, fell.

"I often walk to work because I can't afford to put petrol in the car," said Tim Galvin, a sergeant in Dun Laoghaire, Co Dublin, who came to the meeting after finishing work at 7am.

He is one of three members of the Association of Garda Sergeants and Inspectors' national executive who is a frontline worker.

"Two of my children are in private schools and one is at third level.

"I have to be earning €24,000 for schooling and another €30,000 for the mortgage.

"If these cuts happen, I'll definitely sink."


Frontline workers fear 10pc cuts will 'sink' them - Independent.ie

World smallest violin for the gard playing poor mouth while sending his kids to private schools.

I used to work in DL and feel like such a sap for not demanding that my employer pay me a wage that would allow me to buy a house within walking distance of there.


Top
 Profile  
 
PostPosted: Wed Feb 13, 2013 7:18 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 42058
Uncle Fester wrote:
Quote:
One garda sergeant said he would "definitely sink" if his €57,000-a-year earnings, which include premium pay and allowances, fell.

"I often walk to work because I can't afford to put petrol in the car," said Tim Galvin, a sergeant in Dun Laoghaire, Co Dublin, who came to the meeting after finishing work at 7am.

He is one of three members of the Association of Garda Sergeants and Inspectors' national executive who is a frontline worker.

"Two of my children are in private schools and one is at third level.

"I have to be earning €24,000 for schooling and another €30,000 for the mortgage.

"If these cuts happen, I'll definitely sink."


Frontline workers fear 10pc cuts will 'sink' them - Independent.ie

World smallest violin for the gard playing poor mouth while sending his kids to private schools.

I used to work in DL and feel like such a sap for not demanding that my employer pay me a wage that would allow me to buy a house within walking distance of there.

They live on a different planet if they think that story will elicit sympathy rather than ridicule.

According to his own evidence school fees and mortgage take up €54,000 of his € 57,000 salary. Methinks we are not hearing the full and unadulterated truth.


Top
 Profile  
 
PostPosted: Wed Feb 13, 2013 8:04 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 16027
Location: We'll Never Forget You Geordan D'Arcy
God be with the days when you knew full well the only way a relatively rank & file member of the Gardaí should be able to send kids to a private school is if he was doing it the traditional way; by being on the take.

On the one hand I know people should be able to aspire to better lives, but fcuk me, he's a copper. Private schooling? You have no God given right to a 'better life' if you cannot afford to cover the bills pal. You are living beyond your means, in a leafy suburb known as cloud f**king cuckoo land.


Top
 Profile  
 
PostPosted: Thu Feb 14, 2013 12:41 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21702
camroc1 wrote:
Uncle Fester wrote:
Quote:
One garda sergeant said he would "definitely sink" if his €57,000-a-year earnings, which include premium pay and allowances, fell.

"I often walk to work because I can't afford to put petrol in the car," said Tim Galvin, a sergeant in Dun Laoghaire, Co Dublin, who came to the meeting after finishing work at 7am.

He is one of three members of the Association of Garda Sergeants and Inspectors' national executive who is a frontline worker.

"Two of my children are in private schools and one is at third level.

"I have to be earning €24,000 for schooling and another €30,000 for the mortgage.

"If these cuts happen, I'll definitely sink."


Frontline workers fear 10pc cuts will 'sink' them - Independent.ie

World smallest violin for the gard playing poor mouth while sending his kids to private schools.

I used to work in DL and feel like such a sap for not demanding that my employer pay me a wage that would allow me to buy a house within walking distance of there.

They live on a different planet if they think that story will elicit sympathy rather than ridicule.

According to his own evidence school fees and mortgage take up €54,000 of his € 57,000 salary. Methinks we are not hearing the full and unadulterated truth.

Well for starters, €57k is almost certainly his net income after deductions, not all of which will be compulsory and the garda credit union do facilities such as deducting household bills from the salary so I'd take that €57k figure with a pinch of salt.
So much spin, which is ironic for the boys in blue who make a living out of disbelieving everybody else.


Top
 Profile  
 
PostPosted: Thu Feb 21, 2013 4:06 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 42058
I'm pleased that development is to recommence in Docklands, but am very dubious about NAMA acting as developer.

Quote:
irishtimes.com - Last Updated: Thursday, February 21, 2013, 13:59
Nama plan to benefit Docklands

A view of Dublin docklands during the boom time in 2005. Photograph: Irish Times
Related
Kenny seeks ideas for job creation | 21/02/2013
Ireland 'took one for the team' on debt, says Noonan | 21/02/2013
Nama lawyers critical of attempt by Dunne and Killilea to dismiss lawsuit | 20/02/2013
Nama could provide funding for two portfolios worth EUR1bn | 20/02/2013
Ex-Nama man gives Dunne US deposition | 16/02/2013
Nama will rehire IBRC staff | 12/02/2013
EOIN BURKE-KENNEDY

The National Assets Management Agency is to develop a string of new commercial and residential projects within the Dublin Central Business District, primarily focused on the city's docklands.

The agency's nationwide plan to invest €2 billion in completing projects up to 2016 will address a shortage of top-quality office accommodation in the capital's docklands area and elsewhere.

It is also designed to assist the on-going expansion of the financial services sector and the development of new business and technology hubs, the agency said.

Nama chairman Frank Daly said the agency is evaluating residential projects where demand exists in Dublin and in other major growth centres throughout the country.

Speaking to the Association of European Journalists in Dublin, Mr Daly said: "We hold security over a considerable number of properties and lands on both sides of the River Liffey and are currently assessing the commercial feasibility of a wide range of projects - not least those in the undeveloped part of North Wall Quay in the north Docklands".

"The Dublin Docklands has been a marked success from an investment perspective, already accommodating over 40,000 employees in the technology, banking, financial, commercial law and other service sectors.

"The area is expected to require significant new development over the medium term, particularly of commercial office space, to accommodate the continued expansion of the financial services sector and the creation of new business and technology hubs in the wake of the move by companies such as Google and Facebook to the area," he said.

Nama's investment plan is linked to the resolution of planning and infrastructure issues in Dublin and elsewhere.

The bad loan agency has approved sales with a total value of €11 billion since its inception in December 2009.

Mr Daly said the Government's recent decision to liquidate IBRC and direct Nama to acquire the unsold residual element its loan portfolio would "significantly increase Nama's workload".

"Potentially, depending on the scale of loan transfers, the size of our balance sheet could increase by close to 50 per cent," he said.


Top
 Profile  
 
PostPosted: Fri Feb 22, 2013 6:44 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21702
Vacancy rate is still over 20% so why they need to build more is beyond me.
http://www.savills.ie/research/ireland- ... earch.aspx

And facebook/google/ebay, etc are already here so who else is going to take up new 100,000 sq ft+ offices?


Top
 Profile  
 
PostPosted: Fri Feb 22, 2013 6:48 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 42058
Uncle Fester wrote:
Vacancy rate is still over 20% so why they need to build more is beyond me.
http://www.savills.ie/research/ireland- ... earch.aspx

And facebook/google/ebay, etc are already here so who else is going to take up new 100,000 sq ft+ offices?

I told you months ago that the IDA were worried and were thinking of bringing in UK developers. This is probably a better solution, but I don't trust a govt agency as a developer.

EDIT I think you'll find that much of that vacancy rate are either 1st gen or in places like Park West where no one wants to go.


Top
 Profile  
 
PostPosted: Sun Feb 24, 2013 1:22 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 30574
Lowry. Again. Don't mess with O'Brien.

http://www.independent.ie/irish-news/if ... 90809.html

Quote:
"If that comes out, I'm ruined," - Lowry


ELAINE BYRNE and GENE KERRIGAN EXCLUSIVE – 24 February 2013

A RECORDING of an extraordinary telephone conversation between the disgraced former Fine Gael minister Michael Lowry TD and the Northern Ireland-based land agent Kevin Phelan has come into the possession of the Sunday Independent.


Central to the conversation is the sterling sum of £250,000 which Mr Lowry says he paid to Mr Phelan. Mr Lowry said on the tape: "I never declared it."

The conversation, which transpired when Mr Lowry rang Mr Phelan, lasted 12 minutes and 42 seconds. It took place on September 30, 2004.

It was recorded by Mr Phelan and a recording of the conversation was supplied to the Sunday Independent by him.

Kevin Phelan is a property consultant based in Omagh, Co Tyrone. His business includes identifying land parcels for purchase and development and then identifying suitable investors.

A number of these deals were probed by the Moriarty tribunal, but Mr Phelan declined by fax to appear as a witness at the last moment.

Since he is based outside the jurisdiction, he could not be compelled to attend.

In the recorded conversation, Mr Lowry constantly refers to a sum of either St£200,000 or St£250,000, which he says he paid to Mr Phelan and which Mr Phelan has confirmed that he received.

Mr Lowry seems extremely anxious to get Mr Phelan to confirm that he had nothing to do with an entity called Glebe Trust, described in the conversation by Kevin Phelan as his "family trust".

The tribunal, in its final report, said it could make only limited findings on one of the deals set up by Mr Phelan — the sale of Doncaster Rovers, an English third-division football club in 1998, for St£4.3m, because of the "suppression" of evidence. The tribunal made a number of adverse findings against Mr Lowry.

The tribunal found that Mr Lowry "did have an involvement in the Doncaster Rovers transaction". This was intended to "entail a payment to, or the conferral of a pecuniary advantage" to Mr Lowry by billionaire businessman Denis O'Brien, it concluded.

This has been strongly denied by both Mr Lowry and Mr O'Brien.

The tribunal was "unable to determine the precise nature" of Mr Lowry's interest in Doncaster Rovers and the "extent to which it was intended that he would benefit from it".

Glebe Trust owned a company named Westferry, which had been set up by Mr Phelan.

Westferry was sold to Mr O'Brien who then used it to buy Doncaster Rovers and the valuable site on which its grounds were located. Both Mr Lowry and Mr O'Brien maintain that Mr Lowry was not involved in that purchase.

These grounds were recently the subject of a sale agreement in a joint venture with Doncaster Council, involving a sum reported to be in the region of St£10m.

On Thursday, Friday and Saturday last week, we put a number of detailed questions to Mr Lowry based on the content of the phone conversation.

These were hand delivered to his Dail office and also sent by email.

We sought to contact him by phone calls, which were not answered, and by subsequent text messages. We made a phone call to his constituency office and sent messages via Facebook (on which he was active last week), as well as text messages and voicemail messages to his son, Councillor Michael Lowry Jr. At the time of going to press, Mr Lowry had not responded.

The Moriarty tribunal's report, in which the Doncaster Rovers sale featured significantly, was referred in March 2011 by the Garda Commissioner, Martin Callinan, to the Criminal Assets Bureau, led by Det Chief Supt Eugene Corcoran for review.

That review was completed and given to the commissioner.

Since October it has been with the Director of Public Prosecutions who is considering whether or not to launch a full-blown investigation.

On Friday, the Sunday Independent handed over a copy of the recording and supporting documentation and other recordings to officers from the CAB. :shock:

In the 12 minute, 42 second recorded conversation, Mr Lowry pleads with Mr Phelan: "I'm asking you Kevin, for fudge's sake, will you protect me just a small bit. For Jaysus sake, don't land me in it, I'm destroyed as it f**king is. I can't bring out that f**king 200 — that 250 — again. If that comes out I'm f**king ruined, I'm bankrupt." :lol:

Soon afterwards in the conversation, Mr Lowry can be heard saying: "I'm asking you — I'm f**king begging you.

Please don't, because I'm not — they can't find that 200. I never declared it."

Later, he goes on to say: "The 200 — the 250 — that I gave you, I paid that directly, I never put that through my books or my account or anything, nobody's going to f**king get it, so I've got, you know, I mean, I'm not even bringing that into it." :lol:

In the recording, Mr Phelan can be heard responding to Mr Lowry, telling him: "As far as I'm concerned, that 250 was my — represented my selling my shares, Glebe Trust shares and that, in Westferry.

I set up Westferry, it was my company, I have all the documentation for that company.

And it was owned by Glebe Trust." Mr Lowry then says: "But if you say that, if you say that, if you say that, if you say that that happened, what the 250 is for is for the sale of f**king Vineacre or Vineacre shares.

Because if you say the opposite, if you say the other, then I'm f**king, looks as if I had a beneficial interest in f**king Doncaster, which I hadn't." Vineacre is a company that was involved in another British land deal (in Wigan), set up by Mr Phelan, in which Mr Lowry does not dispute his involvement.

It featured recently in the media when Mr Lowry was asked why he had not declared this ownership in the Dail register of interests.

After a Sunday Independent story on the Wigan land, the Standards in Public Office Commission received 380 complaints and is currently investigating this matter.

At one stage in the conversation, Mr Lowry and Mr Phelan agreed that solicitors engaged by Mr Phelan should not be "appointed officially", as "the f**king office would be raided".

The voices of Mr Lowry and Mr Phelan are clearly identifiable on the recording and we have verified their authenticity.

The Sunday Independent also had the recording examined by a professional sound engineer, who was able to state that this was a recording of a single conversation and there was no evidence that it had been edited or otherwise interfered or tampered with in any way.

Efforts by the Sunday Independent to make contact with Mr Lowry at both his home and constituency office in Holycross yesterday were unsuccessful.

The Tipperary TD's house appeared to be unoccupied from early morning, while there was no sign of any activity throughout the day at his constituency office, which is located on the premises of his refrigeration company, Streamline Enterprises.

Phone calls to several of his closest political allies proved to be fruitless.

One of those contacted — a Mr Sean Fogarty — took particular exception to the Sunday Independent's intention to publish an article relating to Mr Lowry, saying: "So you're having another go at him are you? Why don't you go after Michael Fingleton or Sean FitzPatrick? Why is it always Michael Lowry?" :lol: :lol: :lol: Notwithstanding his objections, Mr Fogarty said he would endeavour to contact Mr Lowry on our behalf and inform him that we had a reporter in Thurles who would be available to meet at a time and place of his choosing to allow him an opportunity to respond to this newspaper's questions.

Mr Fogarty rang back a short time later to say he had tried several times to contact Mr Lowry but had been unable to reach him.

Another of Mr Lowry's political allies, Cllr Eddie Moran, also agreed to a request from the Sunday Independent to try to contact the TD on our behalf.

Approached by the Sunday Independent, a number of locals said they had not seen Mr Lowry in or around Thurles yesterday.

Indeed, the only place the embattled TD could be found was in the pages of the Tipperary Star newspaper, which carried a feature and a photograph showing Mr Lowry joining in the 100 th birthday celebrations for local resident, Catherine Dunne, at the Sue Ryder Centre in Holycross village.


Top
 Profile  
 
PostPosted: Mon Feb 25, 2013 12:30 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21702
camroc1 wrote:
Uncle Fester wrote:
Vacancy rate is still over 20% so why they need to build more is beyond me.
http://www.savills.ie/research/ireland- ... earch.aspx

And facebook/google/ebay, etc are already here so who else is going to take up new 100,000 sq ft+ offices?

I told you months ago that the IDA were worried and were thinking of bringing in UK developers. This is probably a better solution, but I don't trust a govt agency as a developer.

EDIT I think you'll find that much of that vacancy rate are either 1st gen or in places like Park West where no one wants to go.

If we really did need them, there'd be foreign money queuing up to provide finance.
Build them by all means but don't be doing it with taxpayers cash.


Top
 Profile  
 
PostPosted: Mon Feb 25, 2013 12:37 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 23236
Quote:
"Two of my children are in private schools and one is at third level.


:roll: :roll:


Top
 Profile  
 
PostPosted: Mon Feb 25, 2013 9:02 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 42058
This could get nicely political, just in time to beat FF up all over again.

Quote:
Government plans inquiry into bank guarantee
Updated: 22:41, Sunday, 24 February 2013


inShare
3
ArticleComments (20)
Richard Bruton said Ireland 'suffered a catastrophic impact'
An inquiry into the banking guarantee of September 2008 will not be "politically motivated" a Government minister has said.
Speaking on RTÉ’s The Week in Politics, Minister for Jobs Richard Bruton said an inquiry into the circumstances surrounding the guarantee was needed to establish whether the public bodies involved had discharged their responsibilities.
The Government has repeatedly said it wants an inquiry into the decision to provide a blanket €440bn guarantee to the Irish banking system.
Mr Bruton said it would help identify any failings in legislation or policy that could be remedied to ensure the mistakes of that period were not repeated.
"Our economy and our society suffered a catastrophic impact from what happened," he said.
His Cabinet colleague, Brendan Howlin, the Minister for Public Enterprise and Reform, will shortly publish legislation setting out the legal scope for Oireachtas based inquiries.
The legislation will outline five separate kinds of inquiries that can be pursued, and follows the defeat of the Inquiries Referendum in October 2011 which sought to extend the powers available to politicians to conduct inquiries.
The legislation is expected to be enacted by the summer and an inquiry is likely to follow later in the year.
Asked on The Week in Politics if the timing of the inquiry, re-visiting the controversial decision of the last administration, would suit the Government with the local and European election due in 2014, Mr Bruton said it was not "politically motivated."
Last year the Public Accounts Committee, chaired by Fianna Fáil's John McGuinness, also outlined its proposals for an inquiry into the banking guarantee.


Top
 Profile  
 
PostPosted: Mon Feb 25, 2013 9:05 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 42058
Uncle Fester wrote:
camroc1 wrote:
Uncle Fester wrote:
Vacancy rate is still over 20% so why they need to build more is beyond me.
http://www.savills.ie/research/ireland- ... earch.aspx

And facebook/google/ebay, etc are already here so who else is going to take up new 100,000 sq ft+ offices?

I told you months ago that the IDA were worried and were thinking of bringing in UK developers. This is probably a better solution, but I don't trust a govt agency as a developer.

EDIT I think you'll find that much of that vacancy rate are either 1st gen or in places like Park West where no one wants to go.

If we really did need them, there'd be foreign money queuing up to provide finance.
Build them by all means but don't be doing it with taxpayers cash.

I said from the very beginning that I didn't want to see public servants donning property development hats.

And, apparently, there is lots of foreign money available, but a monopoly on the supply of decent sites.


Top
 Profile  
 
PostPosted: Tue Feb 26, 2013 6:57 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 42058
Bank guarantee ended, only € 62 bn later.

So much for the cheapest bailout ever.

Quote:
irishtimes.com - Last Updated: Tuesday, February 26, 2013, 16:38
Bank guarantee scheme to be ended

Minister for Finance Michael Noonan: said 'significant progress' had been made in addressing Ireland's banking problems.
Related
Bank guarantee scheme extended | 16/11/2011
Noonan offers banks option of raising unguaranteed deposits | 17/11/2011
Minister for Finance Michael Noonan has announced the Eligible Liabilities Guarantees Scheme (ELG) is to end.

The scheme will be closed on March 28th.

There had been growing expectations that the scheme, which was put in place in December 2009 to protect deposits in Irish covered banks, was set to be phased out, given the improving position of Irish banks.

"The Irish banking system failed the Irish people and the mismanagement of the banks and the crisis has cost the Irish taxpayer €62 billion," Mr Noonan said this afternoon. "All of the Government actions since taking office in March 2011, both at home and abroad, are designed to repair this damage and break the negative link between the banks and the State. We are making significant progress in this regard and the ending of the Guarantee for new liabilities marks another step forward."

The current scheme was set to run until June 30th, 2013, and late last year ratings agency Fitch warned that this would likely be the last extension.

The ELG imposts a high cost on the banks, which include Bank of Ireland, AIB and Permanent TSB, as they must pay for protection of their depositors.

The ELG scheme provides for an unconditional and irrevocable State guarantee for certain eligible liabilities (including deposits) of up to five years in maturity incurred by participating institutions from the date they joined the scheme until the closure of the scheme on certain terms and conditions.

It was introduced as a measure to maintain the stability of the financial system in the State and succeeded the government's blanket guarantee of September 30th, 2008.

It is separate to the Deposit Guarantee Scheme, which protects deposits of up to €100,000. The Central Bank said this scheme was unaffected by today's announcement.

The total amount guaranteed under the ELG scheme at September 30th, 2012 was €78 billion.

Between July 2011 and the end of January this year, State-guaranteed banks' deposits increased 10 per cent to €154.3 billion, the Department of Finance said earlier this month.

Their European Central Bank funding reliance fell about 30 per cent to €48 billion in the same period, it said.

Bank of Ireland and Allied Irish Banks withdrew their UK units from the ELG programme last year. Both banks said in November they are prepared for the expiry of the guarantee.


Top
 Profile  
 
PostPosted: Tue Feb 26, 2013 9:46 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 42058
And it gets better :

Quote:
irishtimes.com - Last Updated: Tuesday, February 26, 2013, 20:31
Public servants may lose out on 80 different allowances

Minister for Public Expenditure and Reform Brendan Howlin speaks to the media after the talks concluded yesterday morning. Photograph: Dara Mac Donaill/The Irish Times
Related
Civil servants' union to urge members to reject pay deal | 26/02/2013
Full text of LRC proposals (PDF)
MARTIN WALL, Industry Correspondent

Public service staff could lose out on money paid under 80 different allowances which are already being targeted by the Government for elimination in addition to the controversial measures to reduce pay, premium and overtime rates as part of the proposed new Croke Park agreement.

The full Labour Relations Commission (LRC) document on the proposed deal, which was published tonight, says staff would have to give full cooperation to the review of allowances announced last year by the Government.

The LRC document also reveals that the Government is also to review existing travel and subsistence arrangements for public service staff.

Last October the Government announced that it wanted to abolish 88 allowances paid to serving personnel in different sectors including education, health, justice and defence.

The LRC document says that unions and management should take account of a ruling by the Labour Court and enter into central talks with a view to reaching a deal on ameliorating losses that arose as a result of the elimination of pensionable allowances.

The document also says that “there will be full co-operation by the parties with the review (of travel and subsistence arrangements) and the implementation of a standardised system of travel and subsistence across the public service”.

The LRC document also says that the additional hours which staff in different parts of the public service will have to work under the proposed new deal “may be aggregated on a daily, weekly or annual basis as best meets service demands following local consultation, based on the principles agreed in each sector”.

In the civil service, it says that while Saturday will not be a normal working day, “it could, in certain circumstances, be utilised to cope with the cases of peak work requirements”.

The LRC document also says that in areas such as health sector management wants reforms in the staffing arrangements for Sunday working, which is at the centre of the current row over premium payments.

“Management will seek actively to reduce the overall numbers of staff rostered for duty on Sundays. At the same time, all staff will co-operate with measures to achieve the most cost-effective skill mix and staffing ratios to meet service needs.”

“Co-operation will be forthcoming for other measures to improve to improve efficiency and effectiveness of hospital services, in particular concentrating as much care provision as possible into the Monday to Saturday period. Staff co-operation will be forthcoming for the establishment of hospital groups and for the re-organisation of services within and between those groups.”

The document proposes reforms to enhance the provision to –re-deploy staff in a bid to maintain frontline services as staffing levels are reduced.

It says where an individual refuses an assignment to a comparable role in the public service he or she would be subject to normal disciplinary procedures.

“Where re-deployment is not an option and taking account of the business needs of the organisation, there may be circumstances where voluntary departures would be appropriate.”

The document also says that there will be an acceleration of performance management systems across the public service.

It says revised arrangements would be aimed at ensuring that managers are held accountable for managing the performance of their staff. It says procedures to deal with underperformance will be streamlined.

“Where agreed procedures for managing instances of consistent performance issues have been exhausted, dismissal from the public service will be actively pursued.”

The LRC document also suggests reforms to existing work-sharing and flexitime working arrangements and says proposals for re-structuring existing grades in each sector should be put in place by next year.

“In recognition of on-going resource constraints, there will be flexibility around traditional grade demarcations.”


Top
 Profile  
 
PostPosted: Wed Feb 27, 2013 1:21 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 42058
This, I think, is significant. The first rise in employment figures since 2008.

Quote:
irishtimes.com - Last Updated: Wednesday, February 27, 2013, 11:37
Employment up 1,200 in quarter

The unemployment rate remained at 14.1 per cent in February, unchanged from January.
Related
Employers to be paid to take on workers | 23/02/2013
EU revises economic forecast for euro zone downward | 23/02/2013
Government unveils job creation plan | 22/02/2013
Employment increased in the fourth quarter of 2012 by 1,200, according to new figures from the Central Statistics Office.

The figures show the first annual increase in employment since the second quarter of 2008, bringing the total number of people in work to 1.85 million.

Unemployment fell by 19,200 to 294,600, or 6.1 per cent to the fourth quarter of 2012. However most of this came as18,000 people left the labour force.

The annual growth in employment was 0.1 per cent in the fourth quarter, compared with a fall of 0.2 per cent in the previous quarter.

The unemployment rate remained at 14.1 per cent in February, unchanged from January.


Top
 Profile  
 
PostPosted: Wed Feb 27, 2013 1:27 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21079
So it's mainly down to people emigrating, incapacitated or retiring?


Top
 Profile  
 
PostPosted: Wed Feb 27, 2013 1:50 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 42058
Brumby_in_Vic wrote:
So it's mainly down to people emigrating, incapacitated or retiring?

No, the EMPLOYMENT figures are mainly due to more people being EMPLOYED.


Top
 Profile  
 
PostPosted: Wed Feb 27, 2013 2:05 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21079
camroc1 wrote:
Brumby_in_Vic wrote:
So it's mainly down to people emigrating, incapacitated or retiring?

No, the EMPLOYMENT figures are mainly due to more people being EMPLOYED.


What about this

Quote:
However most of this came as18,000 people left the labour force.


Top
 Profile  
 
PostPosted: Wed Feb 27, 2013 2:18 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 42058
Brumby_in_Vic wrote:
camroc1 wrote:
Brumby_in_Vic wrote:
So it's mainly down to people emigrating, incapacitated or retiring?

No, the EMPLOYMENT figures are mainly due to more people being EMPLOYED.


What about this

Quote:
However most of this came as18,000 people left the labour force.

My point is that, for the first time since 2008, the numbers in employment are rising. That is a good thing.

Of course our unemployment figures are horrendous.


Top
 Profile  
 
PostPosted: Wed Feb 27, 2013 2:55 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21702
Brumby_in_Vic wrote:
camroc1 wrote:
Brumby_in_Vic wrote:
So it's mainly down to people emigrating, incapacitated or retiring?

No, the EMPLOYMENT figures are mainly due to more people being EMPLOYED.


What about this

Quote:
However most of this came as18,000 people left the labour force.

Labour force is the total numbers of those available to work and 18,000 left it so all other things staying the same, the unemployment rate would fall.

But on top of that, the numbers of people actually in employment increased which also affects the unemployment rate. That's an increase in the number of taxpayers which is positive news.


Top
 Profile  
 
PostPosted: Wed Feb 27, 2013 5:50 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21702
NAMA is now subject to freedom of information act.


Top
 Profile  
 
PostPosted: Wed Feb 27, 2013 6:58 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21079
What's the story with the Internship scheme? Isn't it supposed to be finished the middle of this year? Already a flood of internship job ads with companies taking the piss out of it. The big test for the employment market will be when this scheme goes.


Top
 Profile  
 
PostPosted: Wed Feb 27, 2013 7:24 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 42058
Uncle Fester wrote:

That will be interesting as they turn commercial developer.


Top
 Profile  
 
PostPosted: Fri Mar 01, 2013 11:18 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21702
Winter is coming for folk who have not kept up with their mortgage repayments.


Top
 Profile  
 
PostPosted: Fri Mar 01, 2013 11:39 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 1326
Uncle Fester wrote:


Was going to have to be done at some stage, the whole question of mortgages in arrears and losses on those mortgages has been more or less ignored by the banks to this point.


Top
 Profile  
 
PostPosted: Fri Mar 01, 2013 11:45 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21079
piaras wrote:
Uncle Fester wrote:


Was going to have to be done at some stage, the whole question of mortgages in arrears and losses on those mortgages has been more or less ignored by the banks to this point.


The banks are going to be out on their own soon so they need to start thinking about running as a proper business.


Top
 Profile  
 
PostPosted: Fri Mar 01, 2013 11:58 am 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 1326
Brumby_in_Vic wrote:
piaras wrote:
Uncle Fester wrote:


Was going to have to be done at some stage, the whole question of mortgages in arrears and losses on those mortgages has been more or less ignored by the banks to this point.


The banks are going to be out on their own soon so they need to start thinking about running as a proper business.


Yeah will be interesting to see how deposits flow when the guarantee runs out, think most people who want to leave have left at this stage anyway.


Top
 Profile  
 
PostPosted: Fri Mar 01, 2013 12:19 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 5272
Location: Terenure, Dublin 6, Ireland
Uncle Fester wrote:


BLT's and PDH's (that's buy to let and primary dwelling homes) quite a percentage of all those mortgages are in arrears.

http://www.centralbank.ie/polstats/stat ... eases.aspx
Page 5 and page 10 tells their own stories.


Top
 Profile  
 
PostPosted: Fri Mar 01, 2013 12:24 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21079
piaras wrote:
Brumby_in_Vic wrote:
piaras wrote:
Uncle Fester wrote:


Was going to have to be done at some stage, the whole question of mortgages in arrears and losses on those mortgages has been more or less ignored by the banks to this point.


The banks are going to be out on their own soon so they need to start thinking about running as a proper business.


Yeah will be interesting to see how deposits flow when the guarantee runs out, think most people who want to leave have left at this stage anyway.

Ulster Bank is still a cluster fudge and RBS their parent were belted in profit reports this week.


Top
 Profile  
 
PostPosted: Fri Mar 01, 2013 12:33 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 5272
Location: Terenure, Dublin 6, Ireland
Brumby_in_Vic wrote:
Ulster Bank is still a cluster fudge and RBS their parent were belted in profit reports this week.


RBS provided €15 billion in additional capital to Ulster to deal with that.
That's why Ulster want to see properties repossessed to help pay off what they owe their parent.


Top
 Profile  
 
PostPosted: Fri Mar 01, 2013 12:34 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 21079
Miguel Indurain wrote:
Brumby_in_Vic wrote:
Ulster Bank is still a cluster fudge and RBS their parent were belted in profit reports this week.


RBS provided €15 billion in additional capital to Ulster to deal with that.
That's why Ulster want to see properties repossessed to help pay off what they owe their parent.


Yet UB were undercharging on mortgage payments.


Top
 Profile  
 
PostPosted: Fri Mar 01, 2013 1:07 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 1326
Brumby_in_Vic wrote:
Miguel Indurain wrote:
Brumby_in_Vic wrote:
Ulster Bank is still a cluster fudge and RBS their parent were belted in profit reports this week.


RBS provided €15 billion in additional capital to Ulster to deal with that.
That's why Ulster want to see properties repossessed to help pay off what they owe their parent.


Yet UB were undercharging on mortgage payments.


That was some fudge up alright, reckon there will be plenty of court cases on this one.


Top
 Profile  
 
PostPosted: Fri Mar 01, 2013 1:15 pm 
Offline
User avatar

Joined: Tue Jan 31, 2012 11:05 am
Posts: 5272
Location: Terenure, Dublin 6, Ireland
http://www.irishtimes.com/newspaper/bre ... ing16.html

Seanie Fitz


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 45415 posts ]  Go to page Previous  1, 2, 3, 4, 5, 6, 7, 8 ... 1136  Next

All times are UTC [ DST ]


Who is online

Users browsing this forum: Cartman, Farva, Fat Old Git, Flockwitt, Rinkals, Thai guy, UncleFB and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Search for:
Jump to:  
Powered by phpBB® Forum Software © phpBB Group