Fear and loathing on mortgage arrears

The fear and loathing over the Central Banks plan to impose an 80% Loan-to-Value limit on mortgage lending is somewhat overdone. 

Five Things I’ll Remember About Web Summit 2014

  By Will Goodbody, Science & Technology Correspondent The Web Summit is over for another year. The three day event was broadly speaking a tremendous success for the organisers, the tech community here in Ireland and the wider economy. Time will tell what business was actually done at and around it. But anyone who was in Dublin City over the last week, couldn’t but have noticed the buzz, the people, the packed restaurants and bars, and the smiling visitors. There …

The ECB letters

by Sean Whelan Economics Correspondent The ECB is today examining the release for publication of four letters between Jean Claude Trichet and Brian Lenihan.  The letters are from the period October – November 2010, a particularly fraught time for the Euro area in general, and the Irish government in particular. One of these letters contained an overt threat from the ECB governing council that it would stop funding the Irish banking system if the government refused to go into an …

Tony O’Reilly – the Real Deal

By Business Editor David Murphy For decades Tony O’Reilly was Ireland’s richest man. He was eulogised as the ultimate Renaissance man: a sporting hero, marketing tycoon and philanthropist. But in June this year, his run of good fortune came to an abrupt halt when State-owned AIB appointed a receiver over some of his assets.

Web Summit – it’s back!

By Will Goodbody, Science & Technology Correspondent If technology isn’t your thing then you should probably head off on holiday for the next few days. Because Web Summit is back, and it’s bigger than ever. Which means that over the coming week you are going to be hearing an awful lot about it. About what the next big things in the world of technology are likely to be. About which company is next likely to be bought or floated on …

The wider damage caused by the exploding rocket

  By Will Goodbody, Science & Technology Correspondent Some are calling it a disaster. That’s a pretty strong word to use when talking about an exploding rocket, which thankfully didn’t injure or kill anyone. But make no mistake about it. The short, dramatic and costly end to the fourth flight of the Antares rocket carrying the Cygnus cargo vessel to the International Space Station (ISS) from the launch pad in Virginia on Tuesday night is a massive setback to the …

Is Irish science funding under resourced and overly commercial?

By Will Goodbody, Science & Technology Correspondent €245 million is a big figure, by any measure. That’s how much is to be invested in five new “world class” research centres here over the next six years. The centres span a variety of areas – telecoms networks, digital connectivity, geosciences, medical devices and software. Two thirds of the investment, around €145m, will be injected by government through Science Foundation Ireland (SFI), with the balance coming from dozens of industry partners – …

Why do the multinationals come here?

by Sean Whelan, Economics Correspondent New research by the ESRI for the Department of Finance looks at the impact of tax policy in the decision of Multinational Corporations (MNCs) to locate overseas. The standout finding is that if Ireland had been operating a corporation tax rate at the EU average of 22.5%, fewer than half the multinational companies that have come here since 2005 would have opened in Ireland. Even moving to a corporate tax rate of 15% could, the …

Ireland’s banking crisis – forgotten but not gone

By David Murphy, Business Editor Many would have imagined that by the end of 2014 the difficulties of Irish banks would, after six tortuous years, have concluded. However the strong possibility that one Irish bank may need further money illustrates that the effects of Ireland’s financial collapse is lingering.

Deficit still dictating Budget arithmetic

By Economics Correspondent Sean Whelan Next year the Government will spend a shade over €70bn. It will have an income of €65bn. So it has to borrow another €5bn to plug the gap. Indeed the Government is borrowing more than it strictly needs to borrow for a neutral Budget. For the first time since 2007 it has introduced an expansionary Budget – though expansionary is rather a grand word for what is a very modest increase in spending.