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Fasten your seatbelts

Wall Street Journal (possibly $ req’d) –
Things are clearly starting to look up,” says Alan McQuaid, chief economist at Bloxham, Ireland’s biggest independent stockbroker. “Assuming the euro-zone debt issue doesn’t turn into a full-blown crisis, Ireland should be roaring back up over the next 12 months, led by a strong export performance.”

So it’s New York [...]

ECB puts a kitten among the pigeons

The Department of Finance has issued a somewhat cryptic Friday afternoon statement from the Minister concerning the European Central Bank’s legal opinion on his legislation to create a new Central Bank Commission to consolidate the functions of the McCreevy-Harney two-headed hydra that was our former CBFSAI.  Somewhat tellingly, the statement doesn’t provide a link to [...]

How ossified is Irish politics?  In the blink of an eye, Australia — which had no recession — replaces its Prime Minister.

The mother of all bank levies

In today’s UK emergency budget, George Osborne announced a new levy on bank liabilities (excluding retail deposits and capital) of 0.04 percent rising to 0.07 percent after a year.  It will raise about £2.5 billion when fully operational.  Today during Leaders Questions when Enda Kenny put Brian Cowen on the spot about the shock new [...]

The costliest St Patrick’s junket ever

March 2008.  It’s an important period in the Irish banking crisis.  How much space does it get in the Honohan report? 1 paragraph (8.5).  Joan Burton deserves credit on this one.  She’s been pushing for some time now for the government to explain its thinking and actions in March and April.  It comes up again [...]

Better late than never

This is odd.  The Irish Times and the Wall Street Journal seem to have gotten the same background briefing on the new framework for financial regulation to be announced  next week, but it was the WSJ that identified the more obvious scoop –
[The Central Bank/Regulator] also will present plans for a new national system for [...]

Social Partnership à la française

As we all wait out the diplay of Fine Gael self-indulgence that would shame even the most vain World Cup WAG, it’s worth recalling that there are several sleeper stories floating around that could yet shed further light on our present predicament.  Take in particular the missing millions that the HSE says went to SIPTU [...]

Speeches from No/Confidence Motion

Another day, another confidence motion. Well it may have been if #fgheave was not going on in the background.
If you care to watch the main speeches you can watch Enda Kenny here (with James Reilly his new best friend/wannabe deputy leader sitting beside him) , Brian Cowen and him saying sorry for the government’s part, [...]

Tough decision for Fine Gael

Fine Gael TDs have a tough call to make over the next couple of days: Kenny or Bruton?
Since they turfed out Alan Dukes all those years ago, Fine Gael have enjoyed – some might say endured – the leadership of John Bruton, Noonan and Kenny. All decent men and honourable politicians, but each of whom [...]

Polling while money burns

Latest Irish Times/IPSOS-MRBI (the newly merged group) poll.  Poll taken Tue-Wed when the banking report drip feed was on but before it became main news.   Last comparable poll (January) in brackets: FF 17 (22), FG 28 (32). Lab 32 (24), SF 9 (8), Green 3 (3), Ind 11 (11).
Have at the interpretation in comments.  To [...]

Who wants to be a 25 billionaire?*

Answer these simple questions and you too can understand how to have 25 billion to your name — in debt*.  To make it even easier, we’ve indicated where in the banking inquiry scoping reports hints are to be found.

Garret can have his apology now

From 2 weeks ago, the Sindo’s Jody Corcoran giving an unnamed government spokesman a free shot at Garret FitzGerald who had critiqued Brian Cowen’s North Dublin Chamber of Commerce Speech needs another look.

Honohan report highlights key inactions

The government used its advance access to the Honohan and Regling/Watson reports to get its retaliation in first.  But the reports reward in-depth reading.  Central Bank governor Patrick Honohan in particular has written something approaching a dissertation on Ireland’s financial crisis.  Since Messrs Cowen and Lenihan clearly intend to emphasize his supposed sanguine view of [...]

Bank Inquiry Reports : “None so blind as they who will not see”

The Regling /Watson report takes a top-down macroeconomic perspective on the origins of Ireland’s banking crisis. The Central Bank Governor’s report is a ‘bottom up’ approach relying on Central Bank and other documentation to reconstruct in some fine detail the events that led to the collapse of the property bubble that is set to cost [...]

Separating the banks’ from the fiscal crisis: first stage of banking inquiry due to be published

Tuesday, 8 June 8, 2010: As the Cabinet sits down to deliberate on the contents of reports by Patrick Honohan, Governor of the Central Bank, and international financial consultants, Klaus Regling and Max Hastings, media speculation began in earnest about what the experts have to say about why our entire banking system reached the brink [...]

HSE: 151 young people in social service orbit died since 2000

Friday evening. Bank holiday weekend.  What better time for a document dump?
We are now much closer to the “nearly 200″ figure for deaths of young people in some form of care/interaction that initially circulated in the media.  Not least because the 151 doesn’t include the earlier 37.   Apparently the post-18 years of age transition out [...]

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