Image via Wikipedia This Evening the House of Commons will be debating the Loans to Ireland Bill which will allow the United Kingdom to give a loan of £3,250 million to Ireland. The plan is that the bill will finish off all stages today. It will pass the Committee stage in the whole House. Already today the issue has been raised four times in the House of Commons. The first time by Mark Reckless, MP for Rochester and Strood,...
Image via Wikipedia Euractive have a very interesting article on the talks between EU Economic Commissioner Olli Rehn and the Irish Government and Opposition. “He asked us our view and I told him we had no confidence in this government, and the thing that would give more stability to the country is an election and a government in place that had a significant working majority,” said Michael Noonan, finance spokesman for the centre-right Fine Gael party This of...
Image via Wikipedia The Telegraph have an excellent article on the latest IMF report – “Will It Hurt? Macroeconomic Effects of Fiscal Consolidation” – and what it means for countries trying to make cuts. In Ireland we cut to quickly. We forgot to bring in a stimulus like other countries. Cuts in budgets mean growth cuts, which will lead to a longer depression. According to the report Southern Europe (Spain, Portugal, Italy and Greece) and Ireland could be in...
Image via Wikipedia Estonia is set to join the Eurozone on the 1st of January 2011 according to the Irish Times. Estonia was given the all clear by the European Commission. Estonia will be the fifth of the 2004 intake to join the common currency following Slovenia in 2007, Malta and Cyprus in 2008 and Slovakia in 2009. Plans by Poland, Hungary and the Czech Republic are still not on track, so they will not be joining the currency...
Image via Wikipedia So Fine Gael’s Senator Eugene Regan made a formal complaint to the European Commission about NAMA. He claims the ‘scale and scope’ of the scheme is disproportionate to the size of the Irish economy, transfers too much risk from the banks onto the Irish taxpayer and does not contain sufficient safeguards that Irish depositors and borrowers will not be forced to pay for the huge mistakes by Irish banks. Now I think most people would agree...
Image via Wikipedia Okay so an Board Snip has been published and its recommending some serious cuts in various sections of Government. Some are good ideas, others are savage. I agree with most of the mergers but not with some of the cuts. There is one thing we must remember with the report. It is only recommendations. We now know what the Government have been recommended to do, so if we think soething shouldn’t be done we need to...
Things aren’t looking well for the Irish Economy at the moment and a few numbers seem to look fairly ominous for the economy and therefore the rest of us. FinanceDublin.com supplies one of the figures which is actually a Debt Clock tracking the Irish Governments Debt which currently stands at over 64 billion euro. That is a shocking figure which we and our children will have to pay off. The second figure comes from a press release by Deirdre...
So it happened. Something I didn’t think would happen. Or maybe something I wouldnt let myself think would happen. All the warnings were there, but I didn’t think it would happen. I got handed my notice. Thats right. I am now unemployed. I never thought I would be upset about loosing my job. But everytime I think about it, my eyes well up. Yes, I know I am not alone in loosing my job, but its a gutting esperience...
We started this morning we two motion based sessions on Health and the Economy. There was no new substantive addition to the heakth policy as announced by Enda Kenny last night. The only addition was the idea of a National Body Test (NBT), which would be “an age appropriate annual check up to pick up illnesses early.” which is an interesting idea. Dr. James Reilly TD’s speech was very good and had some hard hitting words aimed at the...
Simon Coveney TD (FG – Cork South Central) is organising open meetings on the Economy. He currently has three organised. They will take place on Thursday, Friday and Saturday of this week. Thursday 26th March. Carrigaline Court. 8pm Friday 27th March. The Bosun, Monkstown. 8pm Saturday 28th March. Ballinlough Community Hall. 7pm He explains why he is holding these meetings I’m holding a series of public meetings in various locations to talk to people who want to gain a...
Recent Comments