Tag Archives: irish banks

What is best for Ireland ? Fine Gael or Labour steering the recovery ship? Cold objectivity rather than personal careerism is necessary.

The issue of importance to me is the relative size of the Labour and Fine Gael in the next Dail.

I believe that Fine Gael’s bank policy and recovery jobs policy (Richard Bruton’s website) is clearly better worked out, safer, realistic and more likely to work. I would have acted to guarantee BoI and AIB on 30 september 2008 had I been forced to make the choice at that time and in those circumstances. I thought that Labour was simply wrong then and Nothing has changed my mind. Just read Professor Honohan’s report and make up yopur own mind.

Read more

Irish Life and permanent and PTSB – may be really in trouble

Irish Life and Permanent

Permanent TSB has a €35 billion residential mortgage loan book. Property prices have fallen to 50% from 2006/7 peak and are back at 2001 levels. 2009 impaired loans €828 million. Impaired loan book provision is 1.2% which is better than the 0.3% up to December 2008 but still ridiculous.

Read more

How did the Irish banks implode?

A number of questions need to be asked because of the impact of the banking meltdown on the whole of Irish society.

Is there a need for an inquiry? Yes

Why? Because the investigations by the Gardai and the Director of Corporate Affairs have, to date, not yielded evidence of wrong doing or otherwise in open court so that the public are still left in the penumbra relative darkness of speculation instead of proven fact. Yet the tax payer has lost € billions.

Read more