DUBLIN, Aug 23 (Reuters) – Ireland’s mortgage crisis
deepened in the second quarter as the number of households in
arrears grew, frustrating expectations that a fall in
unemployment and pressure on banks to cut deals with borrowers
might have brought relief.
Ireland’s stock of bad household debt is a major impediment
to the country’s economic recovery as it prepares to exit its
EU/IMF bailout, and could force the government to inject further
capital into its lenders.
DUBLIN, Aug 21 (Reuters) – Ireland has appointed a French
official to take over as the country’s financial regulator, the
second foreigner to fill the role since the collapse of the
country’s banking system forced it into an EU-IMF bailout.
Cyril Roux, an insurance specialist who is currently a
senior official at the French prudential supervisory authority,
the ACPR, will replace Briton Matthew Elderfield, who is
stepping down for personal reasons.
MULLINGAR, Ireland, July 28 (Reuters) – Struggling cafe
owner Julie Mangan rolls her eyes at talk of packed restaurants
and queues for house viewings in Dublin as proof that Ireland’s
battered economy is finally on the mend.
With two consecutive years of growth, falling unemployment
and the property market showing signs of life, Ireland is being
held up by European leaders as the continent’s best chance for a
bail-out success story.
DUBLIN, July 23 (Reuters) – Irish residential property
prices have recorded their first annual rise since a property
crash crippled the country’s economy in 2008, a landmark in what
has been an uneven recovery for the bailed-out country.
Property prices across the country increased by 1.2 percent
in June, up from an annual fall of 14.4 percent in the same
month last year and the first rise since January 2008, the
central statistics office said.
DUBLIN, July 17 (Reuters) – Irish state-owned mortgage
lender Permanent TSB will submit a revised restructuring
plan to the Irish authorities by July 31 as the government bids
to complete a banking overhaul, sources close to the matter
Permanent TSB, then known as Irish Life & Permanent,
received 4 billion euros ($5.25 billion) of state aid in 2011
and submitted a business plan to the European Commission in June
BELFAST (Reuters) – Protestant youths hurled petrol bombs at police in Northern Ireland, wounding at least 27 officers in a fourth night of protests over restrictions on traditional marches, as the White House expressed “deep concern” about the violence.
The regional parliament, recalled from its summer recess, was due to meet on Tuesday to discuss ways of restoring order.
DUBLIN (Reuters) – Standard & Poor’s upgraded its outlook on Ireland’s credit rating on Friday, saying its debt may fall faster than expected, nurturing European Union hopes for at least one bailout success story.
The upgrade to positive from stable on Ireland’s BBB-plus rating comes ahead of a planned year-end exit from its EU/IMF bailout, and backs its status as Europe’s strongest bailed out economy amid political turmoil in Portugal and Greece.
DUBLIN (Reuters) – Standard & Poor’s upgraded its outlook on Ireland’s credit rating to positive from stable on Friday saying the government may beat its fiscal targets and cut its debt faster than expected.
The move comes six months ahead of the country’s planned exit from its EU/IMF bailout, which will require a full return to borrowing on bond markets. It will also be a boost to sentiment after data last month showed Ireland had unexpectedly tipped into recession for the first time in four years.
DUBLIN (Reuters) – Ireland’s parliament voted on Friday to allow abortion under certain conditions for the first time, following months of polarizing debate in the Catholic country including letters to the premier written in blood.
Prime Minister Enda Kenny has provoked protest from both sides of the debate by pushing through a compromise that will allow abortion, but only when a woman’s life is in danger. His governing party has faced down more rebels over the issue than it did over its harsh austerity measures.
DUBLIN (Reuters) – Ireland’s Europe minister quit on Thursday over plans to legalize abortion for the first time as Prime Minister Enda Kenny pressed ahead with legislation that has polarized the staunchly Roman Catholic country.
Kenny has provoked a strong backlash by pushing for access to abortion when a woman’s life is in danger. Both sides of the debate have attacked Kenny’s stance and the government has faced down more rebels on the issue than it did over its painful economic austerity plans.