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national / economics and finance Tuesday February 02, 2016 23:11 by T
Trajectory of Irish Banks
Forget the official Banking Inquiry report because Joe Higgins has written a much more better one and it asks the rights questions and gets to the heart of the matter by putting the whole saga in its proper context -something which the official report couldn't thing as it would mean asking fundamental questions. Indeed the inquriy itself and official report have been steeped in controversary with allegations of coverup because of numerous reports of key officials and whistleblowers in the regulator office and central bank were ignored and their evidence never making into the inquiry. The whistleblower made a formal complaint under the Protected Disclosures Act and (Village Magazine) "outlining a range of detailed concerns about how the Central Bank and some of its legal representatives were omitting huge swathes of vital documents, redacting many of the most crucial pieces of evidence, and delaying release of vital material until it was too late to use them in briefings for public hearings – in at least one case handing them over 24 hours before a scheduled interview about them." Related Links: Joe Higgin's Banking Inquiry Report - Jan 2016 | VillageMagazine: Cover-up upon cover-up. Banking Inquiry to be blown apart | Joe Higgins website | Indy Links: The Fake Banking Enquiry. More Cynical Theatre For The Downtrodden Irish Masses? | Inside the Anglo Irish - The secret tapes | Audio from Conor McCabe on Banker and Rancher Interests in the Modern Irish Economy |
Sun 06 Mar, 14:51
Puerto Rico's House of Representatives approved legislation to reform its highly indebted public utility company "PREPA."
Victory Clare County Council voted to reject the TTIP( Transatlantic Trade and Investment Partnership) on Mon 8 feb. The EU's negotiating team for pharmaceuticals, medical devices and cosmetics in the Transatlantic Trade and Investment Partnership (TTIP) met with civil society organisations inside the Commission on Wednesday (27 May) to defend the inclusion of the health sector in the trade deal.
The United Nations, International Monetary Fund (IMF), World Bank and finance ministries are meeting in New York to finalize an agreement for the Financing for Development Conference (FfD) to be held in Addis Ababa, Ethiopia, in July.
The World Bank announces $650 million in new concessional loans and grants for Sierra Leone, Guinea, and Liberia at the start of the Spring IMF and World Bank meetings.
The IMF issued a report today showing that debt and human crisis are driving inequality and financial instability. Jubilee USA Network calls for the establishment of structures to stabilize the global financial system and to protect low-income communities. The Ebola epidemic clearly demonstrates the need for these structures.
Steve Keen is the author of Debunking Economics. He is critical of Neo-Classical Economics
The drip feed of questionable deals carried out by NAMA is well under way. Regularly now, we see information reaching the public domain whereby NAMA have sold stressed assets at less than their real value and the purchasers are turning them over within 2 years, at profit ranging from 30% to 40%/ The purchasers are mostly foreign investment funds – ‘vulture funds ‘ – who have picked on the carcass of the stressed Irish property market. Many of them have retained the assets, and become serious players in the residential rental market in Ireland, especially Dublin, and have developed a controlling influence, managing to drive up rents astronomically in our capital city. This all doesn’t make them evil people – they just do what they do, it’s called unfettered Capitalism - our problem as Irish citizens is that our Government have allowed a situation to develop whereby the vulture funds win and the Irish tax payer loses. And our present Neo Liberal Government think that this is all fine. I believe otherwise. Here’s my Leader’s Questions with Taoiseach Enda Kenny this week, who knows that all is not well. -
Media advisory - For immediate release: Monday, 29 February 2016
The Sunday Business Post ran a story claiming that vulture funds who bought up the loan books of Irish financial institutions are likely to step up pressure for payment after the general election.
US District Judge Thomas Griesa ordered "hold-out" investors on Thursday to explain why various sanctions on Argentina should not be lifted.
The US House of Representatives held its second hearing on Puerto Rico's debt crisis this year. The hearing focused on potential legislative solutions including bankruptcy protection and an economic oversight board.
TASC today released an equality analysis of Budget 2016, which analysed both the tax and spending changes. It shows that the tax cuts announced will give the greatest benefit to a single person earning €70,000, which is the same “sweet spot” as last year’s budget. |
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