Chopra’s five lessons from the Irish bailout

By Economics Correspondent Sean Whelan In a survey article published by the International Monetary Fund on Thursday, 19th December, Ajai Chopra says “my involvement with Ireland over the past few years has been the capstone of a three-decade career at the IMF”. From his Irish days, Mr Chopra has distilled five lessons.

Plenty of research funding on the Horizon

By Will Goodbody, Science & Technology Correspondent @willgoodbody After all the planning, politicking, voting and spinning, this week finally saw the Irish launch of Horizon 2020, and the announcement of details of the first call for funding. The seven- year €79 billion EU science, research and innovation fund is the successor to the previous fund, Framework Programme 7 (FP7). For many scientists across Europe and beyond (because it is open to researchers in other countries) it will be their bread …

Despite bailout exit, Ireland still not out of the woods

By Business Editor David Murphy Ordinary Irish people won’t notice the slightest difference between life before and after the bailout. Banking problems persist, unemployment is still high and the economy is sluggish. Conditions are improving. But it is far too early to say that Ireland is out of trouble. I understand that initially the Government planned low key events to mark the end of the bailout. But Ministers were besieged by media requests, particularly from foreign journalists, and clearly decided …

Europe’s plan to fix troubled banks is far from flawless

By Business Editor David Murphy The Irish taxpayer has already paid vast sums to fix the banks – so it can be easy to be cynical about Europe’s plans to deal with the next banking crisis, whenever that might occur. But adopting a common mechanism to deal with troubled lenders is a big deal. However, a big question is whether the policy behind the so-called banking union is sound and what exactly it all means.

A (sort of) farewell from the Troika

By Economics Correspondent Seán Whelan According to the European Commission, NAMA has sold 7,000 individual properties, raising €10 billion in the process.  It has also pulled in €4 billion in rent from its property roster.  And it has repaid (redeemed) 25% of the €30.5 billion in NAMA bonds it issued to the banks to buy their commercial property assets. NAMA was the centrepiece of Government efforts to restructure the Irish banking industry.  It allowed the banks to quickly “delever” – …