Padraic's Feed
Jun 23, 2014

ECB bank watchdog says markets favourable for capital raising

DUBLIN, June 23 (Reuters) – There is sufficient liquidity in
the market if euro zone banks want to raise more capital as they
prepare for pivotal stress tests later this year, the bloc’s top
regulator said on Monday.

The ECB’s Single Supervisory Mechanism (SSM) is preparing to
run the rule over almost 130 lenders it will begin supervising
from November in stress tests billed as the toughest yet after
previous exercises failed to convince markets.

Jun 10, 2014

U.S. billionaire Wilbur Ross cashes out Bank of Ireland stake

LONDON/DUBLIN (Reuters) – U.S. billionaire Wilbur Ross sold his entire shareholding in Bank of Ireland for almost half a billion euros on Tuesday, to almost triple the value of a shrewd investment made at the height of the euro zone crisis.

Ross has said he would sell his 5.5 percent stake three years after his pioneering investment kept the struggling bank out of state hands, and his holding was snapped up at 0.265 euros a share.

Jun 10, 2014

Wilbur Ross sells 477 mln euro Bank of Ireland stake

LONDON/DUBLIN, June 10 (Reuters) – The sale by billionaire
investor Wilbur Ross of his entire shareholding in Bank of
Ireland (BoI) was priced at 0.265 euros a share,
Deutsche Bank, the placing’s bookrunner, said in a statement.

Ross announced on Monday that he would sell his 5.5 percent
stake three years after his pioneering investment kept the
struggling bank out of state hands, but he added that he
remained confident about its prospects.

Jun 9, 2014

Child graves prompt Irish to ask why so many babies died in Church care

CASTLEPOLLARD Ireland (Reuters) – In the leafy grounds of a center for the disabled in rural central Ireland, a small tombstone hints at the building’s previous role as a “mother-and-baby home”. It reads: “In Memory of God’s Special Angels”.

No names, no dates, just an acknowledgement that buried in the garden of the Manor House in Castlepollard are children born to unwed mothers at the Church-run institutions that dotted Ireland half a century ago.

Jun 6, 2014
via FaithWorld

Irish Catholic Church says horrified by children’s mass grave

Photo

(The entrance to the site of a mass grave of hundreds of children who died in the former Bon Secours home for unmarried mothers is seen in Tuam, County Galway June 4, 2014. REUTERS/Stringer )

Ireland’s Roman Catholic Church told the order of nuns who ran the former home where a mass grave of almost 800 children was found that it must co-operate with any inquiry into the discovery.

Jun 4, 2014

Ireland considers inquiry into children’s mass grave at ex-church home

DUBLIN (Reuters) – Ireland is considering an inquiry into what the government called a “deeply disturbing” discovery of an unmarked graveyard at a former home run by the Roman Catholic Church where almost 800 children died between 1925 and 1961.

Ireland’s once powerful Catholic Church has been rocked by a series of scandals over the abuse and neglect of children, and the government is concerned that research carried out by a local historian in county Galway has revealed another dark chapter.

May 31, 2014

O’Driscoll bids farewell to rugby on bittersweet note

DUBLIN (Reuters) – Brian O’Driscoll’s rugby career ended on a bittersweet note on Saturday when he left the field injured after just nine minutes of the RaboPRO12 final which his Leinster side went on to win 34-12 against Glasgow.

O’Driscoll, the world’s most capped rugby international and regarded as one of the greatest to play the game, limped off to a standing ovation from his home fans at a packed RDS to end a glittering 15-year career.

May 31, 2014

Rugby-O’Driscoll bids farewell to rugby on bittersweet note

DUBLIN, May 31 (Reuters) – Brian O’Driscoll’s rugby career ended on a bittersweet note on Saturday when he left the field injured after just nine minutes of the RaboPRO12 final which his Leinster side went on to win 34-12 against Glasgow.

O’Driscoll, the world’s most capped rugby international and regarded as one of the greatest to play the game, limped off to a standing ovation from his home fans at a packed RDS to end a glittering 15-year career.

May 28, 2014

Strained Irish coalition needs growth more than ever

DUBLIN (Reuters) – Ireland’s government needs economic growth, and fast, to take the sting out of one last bout of austerity that could topple the coalition.

Economic growth has long been seen as the final piece of the jigsaw for Ireland’s recovery after it completed an EU/IMF bailout last year, resumed routine borrowing on bond markets and brought a banking system back from the brink of collapse.

May 27, 2014

Irish finance minister says limited room to sweeten budget cuts

DUBLIN (Reuters) – The Irish government will not be swayed by political pressure to ease back on one last bout of austerity, which it needs to implement to hit fiscal targets mandated by Brussels, its finance minister said.

As members of the Labor party – the government’s junior coalition partner – called for a change in economic direction following an election drubbing, Michael Noonan said he would have limited leeway to sweeten planned budget cuts.