Savings are safe, Rush Credit Union members told
The Registrar of Credit Unions has reassured members of the distressed Rush Credit Union that their savings are safe and will be refunded by the Central Bank Deposit Guarantee Scheme.
Describing the scenario at Rush Credit Union as an "extreme case", Anne Marie McKiernan said that "ongoing and unacceptable failures" were identified in the credit union and it was given ample opportunity to deal with the issues.
Speaking on RTÉ's Morning Ireland, she said that no alternative was left other than to opt for liquidation to protect members' funds.
She stressed that this case does not represent the sector broadly and all deposits are protected up to €100,000.
Rush Credit Union members do not need to take any action as the matter was being dealt with now by a liquidator and the Central Bank, she added.
Coveney says rapid-build programme is ramping up
Minister for Housing Simon Coveney has said it "is nonsense" to suggest he is not prioritising homelessness as the housing budget has been increased by over 50% for the next year - by €400m.
Speaking on RTÉ's Morning Ireland, he said there has been a steady increase in the number of families who are becoming homeless and described the issue as "the worst homeless crisis we have ever faced".
Figures released by the Department of Housing yesterday show that the number of homeless families in Dublin has surpassed 1,000 for first time.
The minister said vacant houses are being bought up and a rapid-build programme is ramping up - with 350 under construction by the end of the year in Finglas, Dún Laoghaire, Balbriggan and Cherry Orchard.
He said all four Dublin local authorities had rapid-build houses in its programme.
20 dead, dozens injured as Pakistan trains collide
At least 20 people have been killed and dozens more injured after two trains carrying hundreds of passengers collided in Pakistan's southern port city of Karachi.
Witnesses said that one train sped into the city's Quaidabad Railway Station and rammed into the second, which was parked there, with the roar of the crash swiftly followed by the screams of people trapped inside.
Rescuers armed with metal-cutting equipment and heavy cranes were fighting to reach passengers still trapped in the twisted wreckage.
