Ahead of the Fiscal Compact referendum on Thursday this week, there is an argument thatIrelandis on the road back from the abyss and that a “no” vote might stamp out the fragile green shoots of recovery. This blogpost examines the latest economic statistics and concludes that we are not yet in recovery mode. We’re in [...]
Archive for the ‘Greece’ Category
Are we recovering?
Posted in Banks, Greece, IMF, Irish economy, Irish population, Irish Property, NAMA, Politics on May 28, 2012 | 11 Comments »
30-minute guide to the ESM and Fiscal Compact treaties
Posted in Greece, IMF, Irish economy, Politics on May 27, 2012 | 11 Comments »
The mainstream media in Ireland hasn’t exactly covered itself in glory this week. RTE kept on reporting on Thursday a claim by An Taoiseach Enda Kenny that the text of the Fiscal Compact would not change following talks at the EU summit. Yet in France, there was no such admission from the French president Francois [...]
Fiscal Compact referendum – final weekly review
Posted in Greece, IMF, Irish economy, Politics on May 27, 2012 | 5 Comments »
This time next week, it will be all over bar the shouting. The referendum is set to take place on Thursday and we should know by Saturday at latest how we have voted. The position on here is to advocate a “no” vote and if the referendum is rejected, it is hoped that next weekend [...]
Of the Week..
Posted in Banks, Developers, Greece, Hotels, IMF, Irish economy, Irish Property, NAMA, Politics on May 26, 2012 | 1 Comment »
Table of the Week The special report from the Comptroller and Auditor General which was prepared in February 2012 but only published during the week revealed that NAMA has employed “Asset Searchers” to see if developers have squirreled away undisclosed assets that might be used to pay down outstanding loans. It seems that there [...]
Santa Claus, the Easter Bunny, the Tooth Fairy and the ESM – ultimately, it is you that is funding all of them.
Posted in Banks, Greece, IMF, Irish economy, Politics on May 23, 2012 | 9 Comments »
The position on here is to advocate a “no” vote in the forthcoming referendum on 31st May. Imagine this fairytale scenario: July 2012, Spain’s 10-year borrowing costs rise from 6.2% today to 7.1%, the same as Ireland’s 10-year bond at the start of November 2010 on the eve of our first bailout.Spain decides that this [...]
Why is Britain not signing up to the Fiscal Compact?
Posted in Banks, Greece, IMF, Irish economy, Politics on May 22, 2012 | 18 Comments »
“David Cameron has played a blinder and he’s done the only thing that it was really open for him to do” London mayor Boris Johnson speaking to the BBC after British prime minister David Cameron “vetoed” the Fiscal Compact in December 2011 The position on here is to advocate a “no” vote in the forthcoming [...]
The only profitable bank in Ireland publishes its annual report
Posted in Banks, Greece, IMF, Irish economy, Politics on May 21, 2012 | 7 Comments »
Poor old Professor Patrick Honohan, he wrote the introduction and accompanying letter for the Central Bank of Ireland’s (CBI) 2011 annual report in April 2012. Both were published this morning and the cautiously upbeat tone looks out of place with a EuroZone that once again appears to be teetering as Greece looks set for default/ejection [...]
Fiscal Compact referendum – review of the week
Posted in Greece, IMF, Irish economy, Politics on May 20, 2012 | 5 Comments »
Just 11 more days to go before polling day on 31st May and the debate on the Fiscal Compact is certainly generating a lot of light and heat. Here’s a review of the past week. The economics The debate as to whether the Fiscal Compact will mandate more austerity continues, with the “no” side still [...]
Why it is correct to refer to the Fiscal Compact as the “Bank Debt Treaty”
Posted in Banks, Greece, IMF, Irish economy, Politics on May 20, 2012 | 28 Comments »
“We will not have “defaulter” written on our foreheads. We will pay our way. We have never looked for a debt write-down, although we want an extension of flexibility from these facilities to help our taxpayers and in dealing with our deficit, and to help repay our debts in a more realistic fashion. It is [...]
Of the Week..
Posted in Banks, Developers, Greece, IMF, Irish economy, NAMA, Politics on May 19, 2012 | 6 Comments »
Picture of the Week This was the week when BBC Northern Ireland broadcast a Spotlight special on Sean Quinn’s former property empire, a programme which brought presenter Jim Fitzpatrick on a global trek tracking down assets and companies to which the assets had been controversially transferred. In Belize City, the capital of the small central [...]
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Recent Posts
- Northern Ireland’s residential property price collapse – the worst in the world?
- Are we recovering?
- NAMA’s report and accounts for Q4,2011
- 30-minute guide to the ESM and Fiscal Compact treaties
- Fiscal Compact referendum – final weekly review
- NAMA in negotiations to build major new office block in central Dublin
- NAMA tackled about its protocols for the disposal of assets amid concern at Cork sale
- Of the Week..
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Recent Comments
JP on Northern Ireland’s residential… Jake Watts on Northern Ireland’s residential… who_shot_the_tiger on Northern Ireland’s residential… who_shot_the_tiger on Northern Ireland’s residential… gerhard dengler on Are we recovering? Twitter Updates
- @OwenCallan Thanks! How many negatives make for a downgrade, I suppose. An Taoiseach says it *will* be just one more. 1 hour ago
- Northern Ireland’s residential property price collapse – the worst in the world? wp.me/pNlCf-2Es 7 hours ago
- @brianmlucey @declanganley @GTCost The IRL experience is that some patients should be let die. 9 hours ago
- @joehas @declanganley @brianmlucey @GTCost I get the impression it's forcing itself back on the table after Bankia. 9 hours ago
- @declanganley @brianmlucey @GTCost You set up a NAMA to suck out the poison OR hope the patient fends for themselves OR let the patient die 9 hours ago
- @OwenCallan Hi Owen! Has any ratings agency said it *will* downgrade IRL if there is a no vote;All S&P said no wd be credit neg in s-term 11 hours ago
- PIIGS yields mixed;SPN/ITA up at 6.5/5.7% as Bankia gets €19bn bailout; what’s SPN for “cheapest bailout in history” wp.me/PNlCf-19r 15 hours ago
- @YJB57 You never know! Peter Mathews giving a candid assessment of the Compact before Thursday could just be this vote's black swan event. 16 hours ago
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