Padraic's Feed
Nov 6, 2015

Ireland sees surplus on AIB bailout as repayments begin

DUBLIN (Reuters) – Allied Irish Banks (AIB) got a green light on Friday to repay 1.7 billion euros ($1.9 billion) of state bailout funds, kicking off the process of reimbursing the 21 billion euros it received during the financial crisis.

Finance Minister Michael Noonan also said for the first time that he expects the state to recoup more than it invested in the bank, through a series of debt repayments and share sales.

Nov 6, 2015

Ireland lacks credit, needs more lending, central bank governor says

DUBLIN, Nov 6 (Reuters) – Ireland’s banking system needs
more competition to give them incentives to increase lending,
the outgoing governor of the central bank said on Friday.

Addressing small and medium-size businesses (SMEs) in one of
his final speeches before retirement, Governor Patrick Honohan
said credit was not flowing into their sector as it should.
Irish banks are charging higher interest rats and rejecting more
loan applications than their European peers, he said.

Nov 6, 2015

Irish women tweet details of their periods to PM in abortion row

DUBLIN (Reuters) – Irish women are tweeting details of their periods to Prime Minister Enda Kenny to help publicise a campaign to repeal restrictive abortion laws.

Abortion is a divisive issue in Ireland where, after large street protests from both sides of the debate, a complete ban was only lifted in 2013 when terminations were allowed if a mother’s life was in danger. [nL5N0YP19C]

Nov 6, 2015

AIB to repay Ireland 1.7 bln euros, more to come

DUBLIN, Nov 6 (Reuters) – Allied Irish Banks (AIB)
won regulatory approval on Friday to pay 1.7 billion euros ($1.9
billion) of government bailout funds, beginning the process of
repaying the 21 billion euros it received during the 2008-9
financial crisis.

Ireland pumped a total of 64 billion euros into its banks
during the crisis, which, at almost 40 percent of annual
economic output, was the most expensive rescue in the euro zone.

Nov 5, 2015

‘Brexit’ could cut Irish/UK trade by 20 percent: think tank

DUBLIN (Reuters) – Trade between Ireland and the United Kingdom could fall by at least 20 percent if Britain leaves the European Union, with far-reaching consequences also likely in other sectors, an Irish government-commissioned report said on Thursday.

British Prime Minister David Cameron plans to renegotiate ties with Europe before holding a referendum by the end of 2017 and the prospect of a “Brexit” already has Ireland’s central bank studying the implications for the Irish economy.

Nov 4, 2015

‘Brooklyn’, Ronan embody Irish emigrant story-director

DUBLIN (Reuters) – Irish director John Crowley feels all the right elements have combined in his film “Brooklyn”, a tale of emigration based on a critically acclaimed Colm Toibin novel and starring the Irish-American actress Saoirse Ronan.

Ronan, tipped for a second Oscar nomination after receiving her first seven years ago at the age of 13, could draw on her own experience to show the emotions and vulnerabilities of emigrants, having just moved to London from Ireland, he said.

Nov 2, 2015

Ireland’s recovering economy grapples with “problems of success”

DUBLIN, Nov 2 (Reuters) – Ireland is quickly learning that a
growing economy is not without its problems as increasing
employment and a rising population put pressure on services and
infrastructure still bearing the deep scars of a financial
crisis.

Dubbed “problems of success” by Finance Minister Michael
Noonan, an acute shortage of housing, rising rents, public
transport that was starved of funding during the crisis, and
increasing congestion in Europe’s fastest-growing economy
highlight an issue that could complicate other economic
recoveries in the region.

Oct 30, 2015

AIB says report it could repay Ireland up to 2 bln euros ‘sensible’

DUBLIN, Oct 30 (Reuters) – Allied Irish Banks said
a media report it could repay 1.5-2.0 billion euros ($1.7-2.2
billion) of government bailout funds seemed “sensible,” and
hoped talks would conclude in the coming weeks.

State-owned AIB is in discussions with European regulators
about reorganising its capital structure, including how much it
can repay the government from the 3.5 billion euros of
preference shares it owns in the bank.

Oct 28, 2015

USA Boxing drafts in Irish coach amid controversy in Dublin

DUBLIN (Reuters) – The United States named Ireland’s Billy Walsh as their women’s boxing coach on Wednesday, a week after his resignation in Ireland ahead of next year’s Rio Olympics caused a political storm and front-page headlines.

Rejected by the Olympic movement for years because of a perceived lack of global interest, women’s boxing was a stunning success in its debut at the 2012 London Games, with Ireland and the U.S. winning two of the three gold medals up for grabs.

Oct 28, 2015

Olympics-USA Boxing drafts in Irish coach amid controversy in Dublin

DUBLIN, Oct 28 (Reuters) – The United States named Ireland’s Billy Walsh as their women’s boxing coach on Wednesday, a week after his resignation in Ireland ahead of next year’s Rio Olympics caused a political storm and front-page headlines.

Rejected by the Olympic movement for years because of a perceived lack of global interest, women’s boxing was a stunning success in its debut at the 2012 London Games, with Ireland and the U.S. winning two of the three gold medals up for grabs.