Search Results for 'bank guarantee'

For some time now we have been fed a peculiar line of spin from our Government, and in particular from Brian Lenihan. Last December he told us that the economy turned a corner. At the time I debated this issue live on RTE Radio 1 with Dr Sean Barrett of TCD. I believed then, as I know now, that no corner had been turned. It was patently obvious to everybody in the real world who was struggling to make ends meet that this was untrue. Messrs Lenihan and Cowen obviously inhabit a different world to you and me. A world of generous salaries, limitless expenses, and munificent perks conveyed for little effort with no expectation of results.

Irish banks received a boost this week with the extension of the short term Government guarantee for short term bank liabilities, including corporate and interbank deposits as well as debt securities.

The Green Party leader John Gormley recently stated on RTE Radio that he believed that the fundamentals of the Irish economy were still strong and that he was happy with the establishment of the assets management agency NAMA. To me this is further proof that John Gormley is ill equipped to hold a cabinet ministry. Many believe he has sold his soul to the devil for the trappings of power.

Uncertainty about property values and borrowing capabilities is rampant in these tough economic times, so it is refreshing to see a builder taking on these issues and presenting a package that will calm the nerves and ease the transition from rental market to owner occupier.

Beverley Flynn TD has accused Permanent TSB of “outrageous contempt” for the Irish taxpayer by its decision to increase mortgage rates. The Mayo TD said it was a scandal that an institution which was saved from collapse by the taxpayer could so readily turn around and bite the hand that feeds it.