BERLIN DASHES BRITISH HOPES OF EASY BREXIT – The Financial Times reports that Germany’s finance minister has set out a tough line on EU divorce talks with the UK on issues from tax breaks to exit costs.
The move dashes any Downing St hopes that Berlin would soften Europe’s stance on a British departure from the bloc.
Theresa May’s government has been looking to Germany, a net exporter to the UK, to temper French demands that Britain “pay a price” for its decision to leave.
Wolfgang Schaeuble told the Financial Times that, even after a Brexit, the UK would be bound by tax rules that would restrict it from granting incentives to keep investors in the country.
SANDYFORD APARTMENT DEMAND HIGHLIGHTS SUPPLY SHORTAGE – Ires Reit is already fielding calls for its first construction project of 68 apartments in Sandyford which are not yet built, according to the Irish Times.
The paper says this further highlights the tightness of the current rental market.
The Maple, a development of four one-bed, 55 two-bed and nine three-bed apartments adjacent to Beacon South Quarter in Sandyford, south Dublin, won’t be completed until next July.
According to Ires Reit chief executive David Ehrlich, however, the property investment company is already taking calls from interested tenants wishing to put down a deposit.
WEAK OUTSOURCING CONTROLS PUTTING BANKS AT RISK – The Irish Independent cites the Central Bank as warning that poor management of outsourcing is putting banks at risk.
The paper says the regulator has warned of "very serious failings" in the governance of outsourcing across the banks in Ireland and branded some cases "astonishing", citing bad management of the arrangements, lack of oversight and a lack of engagement and challenge from the banks' boards.
Ed Sibley, Director of Credit Institutions at the Central Bank, said that while there had been improvements, the regulator continued to see overall governance weaknesses across the institutions it supervised, including issues around internal reporting to boards and management, and risk management.
RYANAIR SAYS IRISH TOURISM IS UNDERPERFORMING – Ireland can increase tourist numbers by 50% to 12 million in the next five years, but only if the offering is dramatically improved, writes the Irish Examiner, quoting Ryanair’s marketing chief Kenny Jacobs.
The paper says he told a conference yesterday however that Ireland as a tourist destination is not the “Premier League” as the industry is too expensive.
Speaking at the Annual Tourism Policy Workshop at Dromoland Castle in Co Clare, Mr Jacobs said that Ireland must strike “an amazing, never-been-done-before deal with AirBnB” to address the room shortage in the industry.
The Government must not cave into demands from unions for pay increases, as it will lead to fewer funds being available for tourism, he said.