Tag Archives: irish economy

Budget 2011: Double the pain (Irish Independent)

By Aine Kerr, Fionnan Sheahan and Maeve Dineen
Tuesday October 19 2010

THE hole in the Government’s finances is heading for €15bn — double the previous worst estimate — and that means families face four years of savage spending cuts and tax hikes.

Read more

Varadkar on the front loading budget cuts

This solo contribution by Dr Leo Varadkar is the best solo effort I have read recently. It is a serious piece of work deserving serious consideration. It was published by the Sunday Business Post on 10 October 2010.

Read more

Fintan O’Toole demolishes Brian Lenihan jnr on Anglo

A question on Anglo that will not go away

It is terrifying to think that Brian Lenihan’s justifications of the bank
guarantee are factually incorrect, writes FINTAN O’TOOLE

A FORTNIGHT ago, I asked a simple question of the Government: “How much
money for Anglo [Irish Bank] is too much?” Whatever view one takes of the
Government’s banking strategy, this is surely a reasonable question. The
wisdom of any financial transaction obviously depends on the price. Buying
a loaf of bread may make sense if the price is €2. It can’t make sense if
the price is €10.

Read more

IRELAND – a financial nightmare

When the Republic’s exchequer borrowing requirement of €18.8 billion is added to the £16 billion annual net transfer from London to the 6 counties of Northern Ireland, the potential catastrophy of the withdrawal of foreign support is frightening. 32% of the workforce in Northern Ireland is in the public sector.The UK budget deficit of 13% of GDP is a prime target for cutting, the only question is when? It will start later this year and both Labour and the Tories agree that the cuts will be severe as they will have to be for the British to retain their AAA rating by the agencies.

Supernationaisits should be asked how is this financial problem gling to be tackled in their dreams of independence. Living beyond your means limits options. Not a good thing.