Padraic's Feed
Apr 15, 2014

Ireland nudges up growth forecasts, sticks with austerity

DUBLIN (Reuters) – Ireland nudged up its growth forecasts for 2014 and 2015, reversing a trend of downgrades over recent years but the government is sticking with planned tax increases and spending cuts to reduce a still high budget deficit.

Employment is growing strongly in Ireland, with consumer sentiment near a seven-year high and house prices rising after a spectacular property crash as the government looks to drive down one of the highest public debts in Europe.

Apr 10, 2014

Irish banks see repossessions ramping up amid mortgage crisis

DUBLIN, April 10 (Reuters) – Irish banks are set to ramp up
repossessions of homes whose mortgage holders are struggling as
they tackle the major lasting issue of Ireland’s financial
crisis, a parliamentary committee heard this week.

The spectacular property crash that pushed Ireland into a
bailout has left almost one in five home loans, worth 25 billion
euros ($34 billion), in distress with a further 11 billion euros
of investment property loans also not being fully repaid.

Apr 4, 2014

Ireland’s “bad bank” sells Northern Ireland loans

DUBLIN, April 4 (Reuters) – Ireland’s “bad bank” sold its
entire portfolio of loans belonging to Northern Ireland-based
debtors on Friday in its largest deal to date, cashing in on
surging international demand.

The loans, which had a par value of 4.5 billion pounds ($7.5
billion), were sold to affiliates of private equity firm
Cerberus Capital Management, L.P. for more than the 1.3 billion
pounds minimum reserve price, a source familiar with the
operation told Reuters.

Mar 26, 2014

Ireland’s Permanent tsb says mortgage arrears have peaked

DUBLIN, March 26 (Reuters) – State-owned Irish bank
Permanent tsb said its mortgage arrears had peaked and it was on
track to return to profit by 2017, as it posted an annual loss
of almost 1 billion euros ($1.4 billion), hit by impairments on
bad loans.

Ireland’s banks, the cause of its financial meltdown that
forced it into an EU/IMF bailout, remain the main risk to the
state and Permanent tsb (ptsb) is the weakest of the three
domestic lenders, weighed down by its troubled mortgage book.

Mar 18, 2014

Schmidt relishes Irish competition with eye on World Cup

DUBLIN (Reuters) – Ireland’s Six Nations success has handed coach Joe Schmidt a dilemma, the New Zealander said on Tuesday, anticipating fierce competition for places ahead of next year’s World Cup.

Ireland won their second title in 29 years with a heart-stopping win in France on Saturday having rarely changed their team throughout with former fringe players like David Kearney, Devin Toner and Andrew Trimble grasping their opportunities.

Mar 18, 2014

Rugby-Schmidt relishes Irish competition with eye on World Cup

DUBLIN, March 18 (Reuters) – Ireland’s Six Nations success has handed coach Joe Schmidt a dilemma, the New Zealander said on Tuesday, anticipating fierce competition for places ahead of next year’s World Cup.

Ireland won their second title in 29 years with a heart-stopping win in France on Saturday having rarely changed their team throughout with former fringe players like David Kearney, Devin Toner and Andrew Trimble grasping their opportunities.

Mar 16, 2014

Diligent Kiwi Schmidt instils winning culture in Ireland

DUBLIN (Reuters) – When Ireland coach Joe Schmidt spoke at a behind closed doors event earlier this year, discussing his management style with a small audience, one participant diligently took notes to fill in any absentees.

The subsequent email quickly went viral as fans shared a fascinating insight into the attention to detail, precision and occasionally quirky methods that has Brian O’Driscoll in no doubt that Schmidt is the best coach he has played for.

Mar 16, 2014

Rugby-Diligent Kiwi Schmidt instills winning culture in Ireland

DUBLIN, March 16 (Reuters) – When Ireland coach Joe Schmidt spoke at a behind closed doors event earlier this year, discussing his management style with a small audience, one participant diligently took notes to fill in any absentees.

The subsequent email quickly went viral as fans shared a fascinating insight into the attention to detail, precision and occasionally quirky methods that has Brian O’Driscoll in no doubt that Schmidt is the best coach he has played for.

Mar 14, 2014

O’Driscoll looks to end on a high back where it all began

DUBLIN (Reuters) – March 19, 2000: the day everything changed for Irish rugby. The day every fan remembers exactly where they were.

Before travelling to France on that sunny spring afternoon seeking a first win in Paris in 28 years, Ireland had become near-perennial northern hemisphere whipping boys, finishing off a miserable decade with a humiliating early World Cup exit.

Mar 14, 2014

Rugby-O’Driscoll looks to end on a high back where it all began

DUBLIN, March 14 (Reuters) – March 19, 2000: the day everything changed for Irish rugby. The day every fan remembers exactly where they were.

Before travelling to France on that sunny spring afternoon seeking a first win in Paris in 28 years, Ireland had become near-perennial northern hemisphere whipping boys, finishing off a miserable decade with a humiliating early World Cup exit.