Irish Election - Coverage of Irish Politics, News and Current Affairs

People in Iceland are not happy about being stuck with the bill for bank liabilities and in particular for Internet bank Icesave whose depositors were reimbursed by the UK and Netherlands governments, who now want Iceland to reimburse them.  It’s an ongoing saga, though one without the heroics of sagas past – The bill, covering [...]

In case you missed it – Brian Lenihan’s speech earlier today introducing the Motion on the Stability of the Banking System.

Average discount on the first tranche of transferred loans: 47 percent.  Anglo: 50 percent. Irish nationwide: 58 percent.  And although these are just the first, biggest, and arguably most troubled transfers, it’s still 10 billion of Anglo’s loan book.  10 billion here and 10 billion there, and pretty soon you’re talking about real money.  AIB’s discount [...]

One of the mysteries of the Irish economic crisis, which historians may eventually puzzle over, is the long-drawn out nature of it.  On March 30, 2010, we get decisions regarding the financial sector that other countries made 12-18 months ago.  And for all the disruption caused by the selective go-slows in the public sector, the [...]

The gist of the agreement reached between the PS unions and the Government earlier this morning is reported in the Irish Times: www.irishtimes.com/newspaper/breaking/2010/0330/breaking4.html The deal will be subject to a ballot of the union membership. If approved, industrial peace in the public service will be secured up to 2014 in return for a commitment to [...]

One headline over the weekend covered the Green’s latest promise to ban corporate donations, preventing “builders and bankers” (presumably also horticulturalists and bodhran makers?) from donating to political parties.

In case you don’t visit his site regularly, Leo Varadkar is extrapolating yesterday’s Red C poll across the country to make seat projections. The result would be FG 72 seats, FF 45, LAB 33, SF 8, Greens 4 and Others 4 – Higgins, O’Sullivan, Lowry and Murphy. … Possible casualties include Michael McGrath, Martin Mansergh, [...]

I’m a victim of unique Irish blame culture, says Harney Things Ministers don't do part 2: Harney is not really responsible for these clinial fuck-ups. Sure kick her over policy but not failure. Typical Irish begrudgerry.

Tomorrow’s Sunday Business Post Poll is bad news for Fianna Fail, down 3% to 24%. Party Support: FF 24% (-3) FG 35% (+1) Lab 17% (–) Greens 5% (–) SF 10% (+1) Other/Ind 9% (+1)

Congrats to Suzy and to Slugger on their blog award wins tonight. Sounds like a great time was had by all. Congrats to Damien as usual for a great show. Congrats to all other nominees and winners as well as the sponsors who make the awards possible.

Am organising a pol-bloggers get together in Galway this Saturday, just before the main course at the Irish Blog Awards.  All authors and commentators on this blog welcome or any other interested parties. Venue : Dáil Bar, Middle street, Galway Time: 5.30 – 7.30pm., 27th March (just before the IBA) Who : All polbloggers welcome… [...]

It is hardly surprising that following a reshuffle in which the conservative streak won out, the back benches in Fianna Fail are slightly angsty. They are in a perpetual knot over keeping their seats and advancing toward the ministerial merc. Interestingly with the reshuffle Cowen has brought both his Kitchen cabinet and the Green party [...]

It is argued that we must cut public spending in order to reduce borrowing and the deficit. However, there is rarely any evidence produced to show if this would happen and, if it does, to what extent. Assumptions and conjectures have replaced verification and demonstration. This is unfortunate for much of the evidence shows that [...]

“ The Taoiseach is no Seán Lemass, Jack Lynch or John Bruton,” Leo said. Leo the political lion cub, bristling with quiet menace, all set to move in for the kill. Then it came: “He is a Garret FitzGerald. He has trebled the national debt and effectively destroyed the country. …. He has brought us [...]

The Dail will hear the Taoiseach’s reshuffle announcement this afternoon. The Irish Times anticipates a limited reshuffle – with an additional Junior post for the Greens in Ciaran Cuffe. So John Gormley will be staying put in the Custom House for a little longer.

In the week when we’re likely to get a good indication of the size of the state shareholding in Bank of Ireland and AIB associated with the NAMA buyouts, it’s worth looking at this New Yorker article on the American experience one year after the US Treasury rolled out its approach to troubled banks.