Many struggling families may suffer with an additional €1,000 a year loss after they’re hit by a bundle of stealth charges, with a second wave of additional pain possible. According to Brendan Howlin, Public Expenditure minister, said €2.2 billion in spending cuts would leave all middle-income families to deal with considerably higher bills, as reported in the Irish Examiner.
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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.
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.
Euro Crisis Continues: Eight Banks Fail Stress Tests
EconomyEight of 90 banks this week failed a banking stress test, having a combined shortfall of €2.5 billion.
Finance Minister: EU and IMF loan profits “excessive”
EconomyIt was reported today that the EU and IMF stand to gain as much as €9billion in profit over the course of the €67.5billion bailout loan.
Weakening economy could necessitate second bailout loan for Ireland
NewsA worsening of the economic outlook could force a second Irish bailout loan.
Bailout Renegotiation & A Tense Week Ahead for the Irish Economy
NewsThe week ahead is likely to be a tense one in the Irish financial markets. The weight of the banking crisis and a poor reputation weighs heavily round the neck of Ireland’s chances of economic regeneration.
Mortgage debt forgiveness: is essential to Irish economic recovery
NewsA group of economist have written an article published in the Irish times today.