Conor's Feed
Jun 27, 2013

Ireland in recession as bailout exit approaches

DUBLIN, June 27 (Reuters) – Ireland’s economy slid into
recession late last year and continued to contract sharply in
early 2013, new and revised figures showed on Thursday, just
months before it is due to exit its EU/IMF bailout programme.

Gross domestic product shrank 0.6 percent in the first
quarter of this year from the previous three months, confounding
analysts’ expectations of 0.3 percent growth – a shock reading
that shows the euro member is recovering from financial crisis
much more slowly than previously thought.

Jun 27, 2013
via FaithWorld

Ireland agrees compensation for Magdalene Laundries survivors


(A ledger from the Hyde Park Magdalene Laundry showing payments for services, is seen on display during a “Magdalene Survivors Together” news conference in Dublin February 5, 2013. REUTERS/Cathal McNaughton)

The Irish government has agreed to pay up 58 million euros (48.93 million pounds) to hundreds of women forced to work at the Catholic Church’s notorious Magdalene Laundries after a report found that a quarter of them were sent there by the Irish state.

Jun 26, 2013

Irish central bank probes whether tapes show rule-breaking

DUBLIN, June 26 (Reuters) – Ireland’s central bank will
investigate whether tapes of senior bankers laughing at
regulators contain evidence rules were broken during the 2008
rescue of failed lenders that eventually led to the country’s EU

In a statement on Wednesday, the central bank said it would
liaise with police over the probe into whether breaches of
regulatory requirements had occurred. “The Central Bank is
carefully studying the various transcripts emerging. This is
something that is viewed very seriously,” it said.

Jun 25, 2013

Irish outrage grows over “arrogant” failed bank

DUBLIN, June 25 (Reuters) – Ireland’s deputy prime minister
laid in to “arrogant” executives on Tuesday at a failed bank who
mocked government efforts to tackle an economic crisis, amid
growing public outrage at the latest revelations in tapes of
bank executive phone calls.

The revelations were seen as potentially damaging to
Ireland’s efforts to obtain concessions from the European Union
on the terms of a bank rescue that pushed it to an
85-billion-euro ($111 billion) bailout.

Jun 24, 2013

Telefonica sells O2 Ireland to Hutchison’s 3 for $1 bln

DUBLIN/MADRID, June 24 (Reuters) – Indebted Spanish group
Telefonica has agreed to sell its O2 Ireland mobile
business for at least 780 million euros ($1 billion) in cash to
Hutchison Whampoa’s local unit 3 Ireland, it was
announced on Monday.

The deal, which is subject to regulatory approval, would
quadruple 3 Ireland’s market share to 37.5 percent and follows
Hutchison’s failed bid last year for eircom, which owns the
country’s third-biggest mobile operator Meteor.

Jun 15, 2013

Protesters confront tight security in Belfast G8 rally

BELFAST (Reuters) – More than 1,000 trade unionists, environmentalists and anti-poverty campaigners confronted heavy security in Belfast on Saturday to voice their anger at G8 leaders who meet in Northern Ireland next week.

Stilt-walkers, drummers and protesters in Halloween masks chanted slogans against everything from U.S. foreign policy to local government cutbacks as they snaked their way through the city, flanked by hundreds of armed police.

Jun 10, 2013

Britain takes security gamble with Northern Ireland G8

ENNISKILLEN, Northern Ireland (Reuters) – British Prime Minister David Cameron is gambling that the remnants of the Irish Republican Army are too weak to trouble the world’s most powerful leaders when they meet five miles from the scene of one of the worst killings in Northern Ireland’s recent history.

Cameron’s government has chosen a secluded lakeside hotel near Enniskillen to host U.S. President Barack Obama and his Group of Eight colleagues at a summit next week, banking on its remote location to deter anti-globalists, Islamists and any other potential trouble-makers.

May 31, 2013

Aer Lingus board backs 140 mln euro pension payout

DUBLIN, May 31 (Reuters) – Aer Lingus’s board
backed a proposed 140 million euros ($183 million) one-off
payment to employee pensions on Friday under a deal to avoid
possible strikes at the Irish airline.

The deal aims to address a hole in a pension scheme which
employees at Aer Lingus share with other aviation industry
workers and which had a deficit of over 700 million euros at the
end of 2011.

May 30, 2013

UK may force Ryanair to sell 30 pct Aer Lingus stake

DUBLIN, May 30 (Reuters) – Britain’s Competition Commission
said it may force Ryanair to sell its entire stake in
Aer Lingus after a probe found the holding allows the
low-cost giant to influence strategy at its smaller Irish rival.

Ryanair’s chief executive Michael O’Leary said the decision
was “bizarre and manifestly wrong” and that the competition
commission would be in breach of European Union law if it ruled
while an EU court was considering the same question.

May 30, 2013

UK says may force Ryanair to sell Aer Lingus stake

DUBLIN, May 30 (Reuters) – Britain’s Competition Commission
said it was considering forcing Ryanair to sell its
entire 30 percent stake in Aer Lingus, which it said
allows the low-cost airline to influence its Irish rival’s

Ryanair’s chief executive Michael O’Leary responded by
saying the competition commission was in breach of EU law.