Economy
Beijing accounts for just 1% of FDI in Europe so Ireland will have to wait…
Nice observation from Simon Carswell in his Bottom Line column today in the Irish Times, regarding the recent high level visit of the putative leader of the Peoples Republic of China. …these visits really only suggest the potential that exists. China accounts for just 3 per cent of exports and most of that is dairy [...] more »
Euro crisis: “With that we buried the Maastricht Treaty, the legal basis for currency union”
A couple of interesting reports in the Irish Times with relevance to the ongoing euro crisis. First, from Derek Scally in Berlin …Mr Asmussen, a member of the ECB governing council, said growth measures – agreed without reopening the fiscal treaty – could help drive European integration. “The benefits of a currency union are so [...] more »
“I think it might be part of a wider fraud organised by certain political elements…”
The Irish Times reports from Ennis Circuit Court where a 33-year-old sub-contractor has been jailed for six years, with the final year suspended, after a jury convicted him of a €680,000 VAT fraud between January 2001 and October 2003. From the Irish Times report Retired Revenue official Michael Downey said yesterday an estimated €15 million went through [...] more »
Review: “Be outraged; there are alternatives…”
It was only four years ago that John Maynard Keynes, for so long deeply unfashionable amongst those with serious economic and political clout, seemed to be making a comeback. As recession loomed, ‘stimulus’ was the word on every politician’s lips. What worked for Roosevelt in the thirties should work for us now, albeit with only [...] more »
“The boom years were the dream. Hard work and tighter belts are the new reality.”
Jolly little thought via Gerard O’Neill: For decades workers, faced with exploding global competition, were compensated by governments with cheap goods, early retirement and welfare on credit: a dream of affluence for life to replace jobs for life. Now the competition is as intense as ever, societies are ageing and their nations are poorer than [...] more »
#EUREF: Real political price of the Treaty is “shift from community to union”…
Very good piece in the Irish Times today by John O’Brennan of NUI Maynooth, on the scale and dimensions of the democratic deficit that attaches to the Fiscal Compact… In effect he argues that it will dramatically sideline European Commission where smaller countries like Ireland can at least broker some national influence on the EU: [...] more »
Euro crisis: “the quadriga is a perfect symbol of how confused and contested that project has become”
Tim Garton Ash asked, “Who wishes to address the assembly?“. Will Self has a point of view on the euro crisis and the European Project’s democratic deficit. You can listen to his Radio 4 Point of View here. From the accompanying BBC Magazine article That these same politicians were afflicted by a strange sort of [...] more »
Euro crisis: “Tis agoreuein bouletai?”
At the Guardian’s Comment is Free, Tim Garton Ash is still a believer in the European Project but, probably, not an optimistic one. As well as mentioning a familiar quote from Luxembourg’s Prime Minister he makes an important point, as Greece faces a democratic choice, again, that applies to the wider euro crisis. From the Comment is Free article Greece’s untold, [...] more »
Not everything you hear about Greece is true…
Richard Parker from Harvard’s Kennedy School shoots a few urban myths on Greek profligacy… more »
#EUREF: Souveraineté ou survie du déluge?
FitzJamesHorse was in Dublin yesterday. His description of the way the yes camp (by his lights, ‘the establishment’) for Referendum on the Fiscal Compact as a Hobson’s Choice”: The legacy for European democracies is that their politcians have actually managed to restrict REAL CHOICE. In Ireland for example, no mainstream political party has been articulating [...] more »
Unemployment in Ireland: a tale of two countries…
As figures on the live register of unemployed in the Republic continue to even out at 14.5% (albeit at historically high levels,) the NI Labour market report released this morning shows a slight drop in unemployment rates 6.7%, down 0.5 percentage points over both the quarter and year… Hardly an indication of a recovery in [...] more »
Greece: “good luck for the next restructuring…”
As the euro crisis rumbles on, confirmation, if any were needed, that Greece is, indeed, heading back to the polls. You can follow further developments on the Guardian’s live-blog. Meanwhile, having cajoled the vast majority of their private sector creditors into taking part in a bond swap deal in March, the Greek government [who? - [...] more »
Euro crisis: “Hold your sides and laugh out loud, otherwise you’ll have to cry.”
Despite some optimistic noises overnight, it still seems more likely than not that Limbo Greece will face new elections. As the Guardian live-blog noted earlier today The Democratic left party in Greece has said it will not back a pro-bailout government. That almost certainly means that Venizelos’s attempts to form a government coalition around agreement on the bailout [...] more »
Martin asks who on the No side will fill Ireland’s €18 billion shortfall?
A broadside from Micheal Martin the Irish Times today… He warns the Yes campaign not to get bogged down in a rebuttal game, but instead make its own case for a yes vote: namely that “for Ireland to recover we need Europe’s support”… And he explains why he thinks that: Any alternative funding would lead [...] more »
JRF Poverty Monitor: An opportunity for the NI Executive to leave a more tangible legacy than the ‘eaten bread’ of peace?
Joseph Rowntree Foundation (the guys who funded the research behind our community asset transfer ‘debate’) Monitoring report on poverty and social exclusion in Northern Ireland put together a great morning of presentation and conversation last week. It consisted of three parts. The presentation, kicking off with presentations from the two authors, segueing into a very [...] more »
Pay your rates by credit card: you pay 2% extra. Pay by debit card: LPS pay 29p.
Northern Ireland ratepayers choosing to pay their rates bills by credit card contributed around £32,000 to Santander last year. How do you pay your rates? Pay the whole year off up front and get the small discount? Pay monthly? Direct debit? Post Office? Or maybe you put on your credit card? Increasingly, government bodies are [...] more »
Are UK (and NI) cultural attitudes the biggest block to regaining long term competitiveness?
Good to see Mark Langhammer back in the public domain a bit more regularly these days… Former Newtownabbey Labour councillor asks some good questions in the Newsletter today… Not least whether with all this talk of moving from austerity to growth whether industry is any fit state to take advantage of any growth agenda the [...] more »
Euro crisis: “Europe will be lucky if it ends up in stagnation like Japan for the next ten years”
Back in Limbo Greece, stage 2 in the 4-stage attempt to form a government with a parliamentary majority ends without agreement – as the BBC notes Mr Tsipras said he had failed to reach agreement with mainstream parties because of his insistence on rejecting austerity measures demanded by the EU and IMF as part of a [...] more »
Austerity is a dish Ireland will almost certainly have to eat, hot or cold…
Markets are itching again… The Greek indecision over forming the next government is such that the Euro has slid to just under $1.30, and yields on Spanish debt are rising to $6.06… [Ms Lagarde, got yer umbrella handy? - Ed] Scary stuff… What’s even more scary is that those economists who cast a darkening glance [...] more »
Euro crisis: “Hollande is man of the moment, but Europe’s gaze is firmly fixed on Athens”
As the Irish Times’ Arthur Beesley notes All of this puts Hollande’s push to renegotiate the treaty in the shade. German chancellor Angela Merkel was quick to rebut her new French partner yesterday, but that can be read as the opening gambit. Her staunch ally Nicolas Sarkozy has been deposed. She has no choice but [...] more »
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Total Politics: Top 20 NI Blogs…
Fair play to Iain, he managed to get over 2,200 people voting in his poll for the top Northern Irish blogs this year… We (just, I imagine) retained our top spot, with Splintered coming straight in at number 2, no doubt his pet subject du jour will have garnered him a lot of fans… I’ve [...] read our review »
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Debating the Churches’ Role in the Peace in Northern Ireland
This morning’s Sunday Sequence featured a substantial debate (about 35 minutes into the recorded programme) on a new book,Religion, Civil Society and Peace in Northern Ireland (Oxford University Press 2011), written by sociologists John Brewer, Gareth Higgins and Francis Teeney. The debate was framed in an opening vignette by presenter William Crawley in uncompromising terms, [...] read our review » -
“It was a trivial problem that… occurs every year”
Just your average family gathering at Christmas, with a bit of an argument about the seating cleaning arrangements… Scuffles have broken out between rival groups of Greek Orthodox and Armenian clerics over a turf war in Bethlehem’s Church of the Nativity. Bemused tourists looked on as about 100 priests fought with brooms while cleaning the [...] read our review »
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