By Business Editor David Murphy Why is the Bank Inquiry important? The banking crisis cost a gross €64bn, wrecked Ireland’s reputation and set back the lives of thousands of people who suffered the loss of employment and higher taxes. Four … Continue reading
David Murphy, Business Editor During the crash critics rightly complained that poor financial regulation had allowed the banks run wild, pitching the financial system into the abyss. The new regime at the Central Bank, led by Governor Patrick Honohan, has … Continue reading
By David Murphy, Business Editor You may have heard of somebody talking up shares, but talking them down is less frequent. That is what Finance Minister Michael Noonan has been doing by describing AIB’s stock as “overvalued” and attempting to … Continue reading
Here is a question – how much of the Irish Water controversy can be explained by poor communications and the failure to convincingly convey its strategy? As the Government prepares to unveil its new package of sweeten the bitter pill … Continue reading
By Business Editor David Murphy For decades Tony O’Reilly was Ireland’s richest man. He was eulogised as the ultimate Renaissance man: a sporting hero, marketing tycoon and philanthropist. But in June this year, his run of good fortune came to … Continue reading
By David Murphy, Business Editor Many would have imagined that by the end of 2014 the difficulties of Irish banks would, after six tortuous years, have concluded. However the strong possibility that one Irish bank may need further money illustrates … Continue reading
By David Murphy Business Editor It was supposed to be a Budget targeted at low and income middle earners – the reality was the higher earners will be better off too.
It is no secret that some of the chief executives of semi-state companies and their board were less than happy with the salary caps which were introduced by Public Expenditure Minister Brendan Howlin three years ago. One of those was … Continue reading
Central bankers in the euro zone, UK and US frequently adjust interest rates in unison. That is not due to a herd instinct, but when conditions in one region merit higher or lower rates similar circumstances are often occurring elsewhere.
They say history repeats itself for those who were not watching the first time. One lesson from the Irish banking collapse was putting the burden on the tax payer while senior bondholders got all their money back was an … Continue reading