Blog Posts by David Murphy

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Big banks back on the rise

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By Business Editor David Murphy The country’s three biggest banks, AIB, Bank of Ireland and Ulster Bank, released financial results this week. All three are making progress (thanks to bailouts from Irish and British taxpayers.) There are some common themes … Continue reading

Can Noonan stay cautious over cuts?

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By Business Editor David Murphy There is an interesting dynamic unfolding as the lobby groups bombard the Department of Finance with their demands regarding the upcoming Budget. In some respects, there is a race to the bottom to recommend the … Continue reading

Bank inquiry hobbled before it begins

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It is still some months before the bank inquiry will commence public hearings – but what we are learning about its scope and design gets worse by the week. The latest blow is that the investigation won’t be able to probe … Continue reading

What does Wilbur Ross’ BoI sell-off mean for the taxpayer?

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  Many investors will be unnerved by the unexpected decision of Wilbur Ross, the billionaire US, to sell his entire stake in Bank of Ireland. His move to buy the stake three years ago rescued the company from full State … Continue reading

Nobody doing anything to prevent another insurance collapse

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By Business Editor David Murphy The 75,000 unfortunate policyholders who bought insurance with Setanta have been treated terribly. What is worse is the fact that nothing is being done to prevent a repeat of the calamity.

What is O’Brien’s motivation to put Cowen on the Topaz board?

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By Business Editor David Murphy So why would Denis O’Brien want Brian Cowen to join the board at Topaz? Part of the answer came on the same day as the announcement that the former Taoiseach was appointed as a non-executive … Continue reading

Neary not the only one with questions to answer on crisis

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Patrick Neary, the former CEO of the Financial Regulator, has been rightly excoriated in the Anglo trial. The case shed light on one specific transaction and revealed an astonishing and indefensible failure of regulation. However, that one deal did not … Continue reading

Boucher’s veto is a blow to State’s debt plan

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By Business Editor David Murphy Bank of Ireland’s CEO Richie Boucher has waved two fingers at the Government’s efforts to resolve the personal debt crisis. Last week Mr Boucher told the Oireachtas Finance Committee his bank would veto any insolvency … Continue reading

Cold Comfort: Iceland after the crash

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By David Murphy, Business Editor Comment on this article via Twitter This time three years ago, Ireland put €24bn into its banks to keep them afloat. It was hoped it would be the last occasion when the taxpayer would be … Continue reading

Housing market isn’t playing by the rules

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It is difficult to say exactly what is happening to the housing sector – but the market certainly is not behaving as it should. Above is the latest information from the Central Bank regarding lending to Irish households. The red … Continue reading

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