As reported in The Independent, The Bank of Ireland has proposed to buy back €1 billion in mortgage securities from investors.
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Dublin Council of Trade Unions: 20,000 Attend Dublin Protest
EconomyA protest was held in Dublin today against austerity measures and in favour of job creation.
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2011 Ireland’s Mortgage Sector Anticipated To Be Worst Since 1971
MortgagesAccording to the IBF/PwC Mortgage Market Profile, which was recently published, more than 3,600 mortgages with a total value of €623 million were given out in the third quarter of 2011. The results for this year are expected to be the lowest since 1971.
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NAMA Banks Take Legal Action On €6B Loans
NewsApproximately €6 billion worth of loans were foreclosed on due to the action banks took against smaller property players and property syndicate members.
Government Plan VAT Rise to 23%
Economy NewsFinance Minister Michael Noonan has announced plans to increase VAT tax by 2% from 21% to 23%.
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Fears of credit union interest rate increase
Loan Rates NewsBorrowers may be forced to pay higher loan interest rates, as reported by The Independent.
Arrears from loans and falling profits may force credit unions to recuperate their loses with increased rates.
Positive words from IMF as new loan funds announced
EconomyThe IMF has released another €1.5 billion of bailout loan funding, and also complimented Ireland’s strategy for economic recovery.
Banks may be agreeing to loan write-offs
NewsThe Irish Independent have reported that banks may be agreeing to secret loan write-offs.
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Anglo Irish Bank to repay loan debt
EconomyAnglo Irish Bank have stated that they are no longer a systematic threat to the Irish economy, and that once they have finished winding down on the sale of their bad loans, they should be able to repay some of the 29 billion Euros loaned to them.
Bank of Ireland to increase loan rates
NewsThe Bank of Ireland have signaled they may have to increase loan rates to improve the profitability of the business. Continue reading