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How to recapitalise the banks

Ireland now sticks out like a sore thumb among countries whose banks are heavily exposed to property.  While the guarantee scheme made a huge splash when it was announced, other countries have since moved onto banking system capital as a major focus of their efforts — providing banks with enough of an additional buffer to [...]

November 10th Afternoon: The Recession Diaries

Finally, a slim ray of light.
‘The problem we have in the public finances is as a result of the fact that the economy is in a recession . . . we have a problem in the economy which has created difficulties in the public finances. It’s not the other way around.’
So said Eamon [...]

Ireland needs to plan in wake of Obama’s Election

Our economic boom was built on 2 pilars. Foreign Direct Investment and property. Now that we are down too one pillar that pillar has to take even more weight. 80% of Irelands exports are from multinationals. 20% of Irish GDP comes from just 3 American companies Dell, Microsoft and Intel. This has been possibly our [...]

I Predict a Riot, Tax Revenue out again

It is a long running line ‘tax revenues were off predictions’. For good or bad tax revenues repeatedly failed to conform to targets and expectations. On the way up property inflation yielded a massive boon to the exchequer and fuelled increases in state spending and shrinking of the tax base. On the way down - [...]

Moving to a Quarterly Budget

Those who were left with the fallout from Bertie Ahern’s ten years in office, namely Cowen and Lenihan, were probably impressed by the production value of the Bertie documentary series last night - if nothing else. The programme was exceptionally well put together and surpassed what I had expected it to be. It wasn’t reliant [...]

Press Releases

If you click on the party news link on the top you can see the latest Press Releases from the political parties.
Bruton exposes Irish oil rip-off: diesel 20.1% dearer, petrol 11.3%, heating oil 13%
Reading that headline you would think that he himself had exposed the rip-off. Telling us tales of going undercover in the local [...]

Green Party’s Dan Boyle to run for European Parliament

Dan Boyle was selected last night to run for the Green Party in the Euro-South constituency next summer. The senator’s work will be cut out for him getting into one of the three seats.
The field is likely to have two sitting MEPs who won in 2004 and a third who was parachuted in for Simon [...]

Back to the periphery

There is a set of very interesting charts with this Wall Street Journal article (should be free access via Google News) about investor expectations of the likelihood that EU countries could default on their debt.  The shocker: for Ireland, the probability is 10%.  That’s huge for a rich country.  We’re joined at that level by [...]

Choose Carefully John Gormley

Conor Lenihan’s ‘Facist’ Furore and Education Cuts

Is it really a big story? Really? Personal insults do not mark out a quality debater but nonetheless the big picture last night was that many thousands turned out in the hail, sleet and snow to protest at education cuts.
Those cuts have yielded horror stories around the country. Like the school in Cloneen, Tipp which [...]

Tomorrow’s Education Protest

I am just wondering if any of our readers/bloggers are heading along to the education protest at Leinster House tomorrow evening? If so - and you fancy doing some blogging from there - could you get in touch via the comments or the email to arrange something with us here?
Thanks

Civil service performance scheme - pay rises for all

Where is the radical reform in the civil service ? Sunday Times figures show that almost every civil servant in the country has received a pay increase. The Government seemed happy to let the civil servants write the budget and now we find that the oversight process for employees in the civil service, the Performance [...]

Republicans prepare to rig election?

Peruse the diagram above. The green/yellow states are those voting with DREs with a voter-verified paper-trail (VVPR) (except in Tennessee, Colorado and Maryland where the relevant legislation has been passed but doesn’t come into force this year) and with/without (respectively) a paper audit-trail. The red-states are those requiring neither a [...]

Universality?

The Irish Times has a very good editorial today. The implications of universality.
At its heart are two very different ways of delivering State benefits and services. One way is to make those services - health, education, and welfare benefits - universally available. The other is to target them at those who are most in need [...]

An Open Letter To Ciaran Cuffe

Yesterday, in the aftermath of the climbdown regarding the Medical Cards fiasco, I read a post on the weblog of Green Party Justice Spokesperson Ciarán Cuffe, which dealt with the Medical Cards issue.
After reading the post, I gave him my view of the Fianna Fáíl / Green coalition, and put some questions to him and [...]

Earn a euro, lose 175 euro

That’s the deal now on offer to those workers making just above the minimum wage.  RTE on the inevitable income levy climbdown –
The Government has decided that people earning up to the minimum wage of €17,540 per year will be exempt from the 1% income levy announced in the Budget.
However, anyone earning above [...]

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