Padraic's Feed
Feb 5, 2013

Irish state held responsible for Magdalene Laundries

DUBLIN (Reuters) – Many of the women and girls subjected to harsh discipline and unpaid work in Ireland’s now-notorious Magdalene Laundries were sent there by the Irish state, an official report said on Tuesday.

The laundries, run by Catholic nuns, have been accused of treating inmates like “slaves” for decades of the 20th century, imposing a regime of fear and prayer on girls sometimes put in their care for simply falling pregnant outside wedlock.

Jan 29, 2013

Ireland, Portugal may not get a taste of ECB bond buys

FRANKFURT/DUBLIN (Reuters) – The European Central Bank appears happy to leave Ireland and Portugal to fend for themselves, holding off directly buying the bail-out recipients’ debt unless markets turn sour again.

Both Ireland and Portugal have re-entered sovereign bond markets recently, but the ECB has left investors and governments guessing about when it could use its new bond-buying programme, known as Outright Monetary Transactions (OMT).

Jan 28, 2013

Insight: Irish banks at mercy of international paymasters

LONDON/DUBLIN (Reuters) – Ireland’s banking recovery could yet be derailed by its international creditors.

The European Central Bank’s refusal so far to give Dublin any relief on the 30-billion euro cost of bailing out Anglo Irish Bank is a major setback for government ambitions to exit an EU-IMF bailout this year and give the euro zone its first post-crisis success story.

Jan 28, 2013

Irish banks at mercy of international paymasters

LONDON/DUBLIN Jan 28 (Reuters) – Ireland’s banking recovery
could yet be derailed by its international creditors.

The European Central Bank’s refusal so far to give Dublin
any relief on the 30-billion euro cost of bailing out Anglo
Irish Bank is a major setback for government ambitions to exit
an EU-IMF bailout this year and give the euro zone its first
post-crisis success story.

Jan 27, 2013

Ireland plans to redo bank debt proposal

DUBLIN, Jan 27 (Reuters) – Ireland will make changes to its
proposal to ease the state’s bank debt burden, government
ministers said on Sunday, adding that failure to reach a deal
with the European Central Bank could have catastrophic
consequences.

The ECB rejected Ireland’s preferred solution over how to
reschedule part of its state-owned bank debt, Reuters reported
exclusively on Saturday, citing EU sources familiar with the
discussions.

Jan 27, 2013

Ireland plans to redo bank debt proposal

DUBLIN, Jan 27 (Reuters) – Ireland will make changes to its
proposal to ease the state’s bank debt burden, government
ministers said on Sunday, adding that failure to reach a deal
with the European Central Bank could have catastrophic
consequences.

The ECB rejected Ireland’s preferred solution over how to
reschedule part of its state-owned bank debt, Reuters reported
exclusively on Saturday, citing EU sources familiar with the
discussions.

Jan 25, 2013

Ireland flyhalf Sexton to join France’s Racing

DUBLIN (Reuters) – Ireland’s Jonathan Sexton will join French side Racing Metro next season after the Irish Rugby Football Union (IRFU) said on Friday the flyhalf would not be renewing his contract with European champions Leinster.

Sexton, who won three Heineken Cups in four seasons with Leinster and has become one of Ireland’s most influential players, has been offered a two-year contract with the Paris-based side, a source close to the deal told Reuters.

Jan 25, 2013

Rugby-Ireland flyhalf Sexton to join France’s Racing

DUBLIN, Jan 25 (Reuters) – Ireland’s Jonathan Sexton will join French side Racing Metro next season after the Irish Rugby Football Union (IRFU) said on Friday the flyhalf would not be renewing his contract with European champions Leinster.

Sexton, who won three Heineken Cups in four seasons with Leinster and has become one of Ireland’s most influential players, has been offered a two-year contract with the Paris-based side, a source close to the deal told Reuters.

Jan 22, 2013

Bank of England’s King says time to review inflation remit

BELFAST (Reuters) – The Bank of England’s inflation-targeting remit needs to be fine-tuned but should not undergo fundamental change, central bank governor Mervyn King said in a speech on Tuesday.

He also said that the central bank was ready to restart bond purchases or cut interest rates if needed to boost the economy, but that Britain needed more fundamental reforms if it was to exceed the “gentle recovery” he expects for 2013.

Jan 22, 2013

Bank of England’s King says time to review inflation targeting

BELFAST, Jan 22 (Reuters) – The Bank of England’s
inflation-targeting remit needs to be fine-tuned but should not
undergo fundamental change, central bank governor Mervyn King
said in a wide-ranging speech on Tuesday.

King also said the central bank was ready to restart bond
purchases or cut interest rates if needed to boost the economy,
but that Britain needed more fundamental reforms if it was to
exceed the “gentle recovery” which he expects for 2013.