Blog Posts by David Murphy

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Cold Comfort: Iceland after the crash

Posted on by David Murphy

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

Posted on by David Murphy

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

AIB bites the bullet, how long before other banks wake up?

Posted on by David Murphy

For five years, politicians have been carping about the slow-learning banks not writing off mortgage debt for homeowners in arrears. Now AIB is doing just that. But its actions are not being met with universal approval from public representatives. Fianna … Continue reading

Spotlight turns to SME debt

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By Business Editor David Murphy Whether he is right or wrong, UCD economist Morgan Kelly always has the ability to put the fear of God into the Irish authorities. When he predicts a financial maelstrom, it is always worth taking … Continue reading

Low inflation may complicate Budget maths

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Business Editor David Murphy There is growing sense that the recovery is taking hold – and it is easy to forget that Ireland has pencilled in another austerity Budget for October. That is due to take a substantial €2 billion … Continue reading

Borrowers cut adrift in great mortgage sell-off

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By Business Editor David Murphy The escalating row about the State’s sale of 13,000 IBRC mortgages is far bigger than it seems at first glance. Evidence suggests the Government has left these borrowers unfairly exposed. Also, the Minister for Finance’s … Continue reading

Irish Nationwide mortgage holders not getting a fair deal

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by Business Editor David Murphy Is the State being unfair on Irish Nationwide mortgage holders? Here is why that might be the case: Irish Nationwide was merged with Anglo Irish Bank to become IBRC. Now the Government is liquidating IBRC … Continue reading

Fallout from high risk mortgage lending continues

Posted on by David Murphy

By David Murphy, Business Editor It is remarkable how much damage sub-prime lenders did in their short burst of lending during the boom. These lenders typically offered loans to people who had difficulty getting mortgages with traditional banks or building … Continue reading

The Good, the Bad and the PTSB

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By Business Editor David Murphy Imagine meeting your bank manager to discuss your financial situation. You have a performing owner-occupier mortgage and a buy-to-let loan which is in arrears. Despite your financial problems you are upbeat about your situation. You … Continue reading

The price of using gold as a safe haven

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By Business Editor David Murphy During the acute phase of Ireland’s financial crisis many people wondered if it was possible that the country would leave the euro. It would be an exaggeration to say the financial problems are now fixed … Continue reading

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