Conor's Feed
Jul 23, 2013

Irish house prices post first annual rise since crash

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.

Jul 17, 2013

Ireland’s Permanent TSB to submit restructuring plan by July 31

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
said.

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
2012.

Jul 16, 2013

Northern Ireland parliament recalled as violence continues

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.

Jul 12, 2013

S&P upgrades Ireland outlook, nurturing bailout success hopes

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.

Jul 12, 2013

S&P upgrades Irish credit outlook, says Dublin may beat fiscal targets

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.

Jul 12, 2013

Ireland votes to allow limited abortion rights for first time

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.

Jul 11, 2013

Irish minister quits as abortion law splits ruling party

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.

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

Photo

(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
bailout.

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.