Written by Foras Teamhrach
Tuesday – The Government has purchased Irish Life from Irish Life & Permanent (IL&P) for €1.3 billion. The Irish Times says that the order fulfils a State “commitment” to acquire the IL to complete the €4 billion recapitalisation of the group’s banking unit, Permanent TSB, it neglected to say to whom this commitment was [...]
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Written by Foras Teamhrach
RingsendPowerStation1459.jpg – http://en.wikipedia.org/wiki/File:RingsendPowerStation1459.jpg The Government will shortly disclose the State assets and companies it intends to dispose of to “raise billions of euro to write down debts and invest in job-stimulus programmes.” (Irish Times). An announcement is being made at 10.30 am. The Cabinet approved a memorandum brought by Minister for Public Expenditure [...]
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Written by Foras Teamhrach
Image Courtesy of Zero Hedge – http://www.zerohedge.com/news/eurusd-collapses-report-eurozone-considering-delay-greek-bailout Germany is now demanding that the “bailout” of Greece be extended until after April, that is, after the Greek elections. EURUSD plunged down to under 1.3070 on the news. Guardian UK: “According to Reuters, Germany, Finland and the Netherlands are leading the push to delay Greece’s bailout [...]
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Written by Foras Teamhrach
The leaders of the three parties in Greece’s coalition government are meeting Prime Minister Lucas Papademos to decide if they will agree to the terms of a proposed €130 billion bailout. Papademos have agreed to make further cuts this year equal to 1.5% of gross domestic product, they have yet to agree to measures [...]
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Written by Foras Teamhrach
The Irish Times reports today that “Germany has confirmed it drafted proposals to intervene directly in the Greek budget if it consistently fails to implement reforms.” If the Greeks aren’t able to succeed themselves with this, then there must be stronger leadership and monitoring from abroad, for example through the EU," said German economics [...]
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Written by Foras Teamhrach
Source: ZeroHedge, 28th 1st 2012 Greek Communist Party (KKE) “If the Commissioner be necessary for the plutocracy, it will accept him. But with or without a commissioner, crime against the people is predetermined by the co-ruling of the EU the ECB and the plutocracy in general. ” Alexis Tsipras, chairman of left-wing SYRIZA asked [...]
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Written by Foras Teamhrach
Transport Minister Leo Varadkar has defended the Taoiseach, who is under fire for blaming the economic crash on "mad" borrowing by the Irish people. Enda Kenny made the comments during a press conference at the World Economic Forum in Davos. Minister Varadkar said that Mr Kenny has nothing to clarify because some people did [...]
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Written by Foras Teamhrach
Speaking to Bloomberg TV yesterday, Taoiseach Enda Kenny said that Irish people are very understanding about what needs to be done to get the economy back on track. Commenting on yesterday’s €3.53 billion debt swap, Kenny said it was an indication of increasing confidence though there is still “a long way to go”. However, [...]
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Written by Foras Teamhrach
The State’s 25% holding in Aer Lingus is included in the list of State assets recommended for sale. This was part of the bailout agreed with the EU-IMF troika. Other assets identified as suitable for sale include Dublin Port, "provisionally valued" at €400 million, (Irish Times), the ESB, Bord Gáis and Coillte. Minister [...]
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Written by Foras Teamhrach
Speaking in advance of the IMF visit, Mr McCarthy said the Government had a huge budget deficit to tackle, and said he believed welfare, income tax and the Croke Park Deal will have to be looked at. "We have to continue to find additional government revenue…You cannot balance a budget starting from where we [...]
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