Image via Wikipedia Things seem to be looking worse for the economic situation of Ireland today as interest on Irish Ten Year Bonds has hit a new high of 8.62% up from 7.96% yesterday. Looking at the chart over on Bloomberg, it is a frightening view. This now places Ireland’s bonds 650 basis points above the benchmark AAA German Bundesbank Bonds. With this new increase, it will mean it will also cost more to insure against default. Which all...
Image via Wikipedia Euractive have a very interesting article on the talks between EU Economic Commissioner Olli Rehn and the Irish Government and Opposition. “He asked us our view and I told him we had no confidence in this government, and the thing that would give more stability to the country is an election and a government in place that had a significant working majority,” said Michael Noonan, finance spokesman for the centre-right Fine Gael party This of...
Lucinda Creighton TD has blogged about how she thinks the Government and Opposition should work together on the budget. She raises some interesting points. Need for Patriotic Rather than Political Response to Economic Crisis Some may say it is naive of Opposition politicians to suggest that now is a time when we must put aside the old fashioned confrontational, adversarial politics of old and replace it, albeit temporarily, with a constructive engagement with the Government and the Minister for...
Image via Wikipedia The Telegraph have an excellent article on the latest IMF report – “Will It Hurt? Macroeconomic Effects of Fiscal Consolidation” – and what it means for countries trying to make cuts. In Ireland we cut to quickly. We forgot to bring in a stimulus like other countries. Cuts in budgets mean growth cuts, which will lead to a longer depression. According to the report Southern Europe (Spain, Portugal, Italy and Greece) and Ireland could be in...
Image via Wikipedia If you are looking for indepth stuff on the budget, you wont find it here! Vists Suzy and Irish Election if you are looking for that sort of stuff! This is my reaction to the budget, which I mostly missed due to college. Hence why I wasnt tweeting. General Reaction: My first reaction is that this budget won’t make a whole load of difference to me. Things may get cheaper with VAT and Excise cuts, but...
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