Economy – Page 64 – Slugger O'Toole

An exploding plastic inevitable: peel slowly and see.

John Ó Néill on February 9, 2011, 3:18 pm

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Last week I’d stopped short of describing Fianna Fáil, Fine Gael and Labour as economic illiterates, but I’m beginning to think even that would have been overly generous now. The front end of the multi-media happening that is the election campaign is currently dominated by rows over 2, 3 and 5-way debates (depending on who is invited and who turns up). Having watched the first (and given that, as a genre it doesn’t tend to get any better), it looks like they are …

“We are all witnesses to the game.”

Pete Baker on February 9, 2011, 12:56 pm

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The Irish Times‘ Arthur Beesley reports that EU Council president, Herman Van Rompuy, was accused by MEPs of being less than honest in his account of the Council’s discussion of Frau Bundeskanzlerin’s “grand bargain”. From the Irish Times report MEPs criticised Mr Van Rompuy’s positive tone, one of them saying it smacked of Soviet-era propaganda. “We’re getting feedback as if everything had gone swimmingly, that wonderful results had been achieved,” said German Green Rebecca Harms. “It’s a bit like the …

‘The graduate with no future’

Paul Evans on February 5, 2011, 9:24 pm

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Paul Mason has written a sweeping post here based upon some notes he made in preparation for a Newsnight package that didn’t go out in the end: It’s his analysis on why 2011 is starting to take on the hues of 1848 and 1989 with it’s gathering storm of insurrectionism. Like the very best blogging, its worth reading because it’s a scratchpad rather than an article. It doesn’t lead us to a conclusion – it just dumps a pile of subjective …

“To say Ireland is cornered might be to understate the situation.”

Pete Baker on February 5, 2011, 4:38 pm

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No agreement emerged on the details of Germany and France’s proposed “pact for competitiveness” for the eurozone at yesterday’s EU Council meeting. The Irish Times reports “a swathe” of opposition expressed at the meeting, while The Guardian editorialises against the German model – but accepts that the eurozone’s “economic rules do need an overhaul”. The EU Council press release is brief on the topic The economic situation The EU leaders discussed the economic situation in Europe and the eurozone. President Van …

“Yet another crucial moment in the debt drama is upon us.”

Pete Baker on February 4, 2011, 11:56 am

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EU leaders are meeting in Brussels today, including caretaking Taoiseach Brian Cowen, and the Irish Times‘ Derek Scally has had sight of a draft paper on Frau Bundeskanzlerin’s “grand bargain”. From the Irish Times report The draft paper is low on detail but high on ambition: “to create a permanent connection between European competitiveness, growth and viable financial politics”. After presenting the broad brush strokes today, Dr Merkel wants EU leaders to discuss the detail and fill in the canvas by …

POTD – Celtic Tiger Prawn

Moochin Photoman on February 4, 2011, 11:01 am

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Found in a side street off Templebar Moochin PhotomanPhotographer and visual artist based in Belfast. I have facilitated community based workshops with groups as diverse as visually impaired individuals in Dungannn, Travellers across Northern Ireland, Young Offenders and many community groups across Belfast. My work has exhibited extensively here in Northern Ireland in group and individual shows and has been shown in North America and i had my first solo international exhibition in New Zealand. I have been the recipient …

Exposing economic literacy as orthodoxy

John Ó Néill on February 3, 2011, 11:28 am

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I suspect that the tenor of the debate around the economy is going to take an ugly turn with the entry of various independents into the electoral race over the next week or two. Prior to the dissolution of the Dáil, there was the grotesque spectacle of Fine Gael and Labour facilitating the passage of a Finance Bill that they publicly stated they would vote against, but, by their actions clearly condoned. Collectively, their positions on the economy, or specifically, …

Frau Bundeskanzlerin’s “grand bargain”

Pete Baker on February 2, 2011, 1:57 pm

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The BBC’s Europe editor, Gavin Hewitt, has the latest murmurings from Europe on Frau Bundeskanzlerin’s “grand bargain”. If true, it could indicate the price to be paid for renegotiating the terms of Ireland’s €85 billion bail-out… From Gavin Hewitt’s Europe blog Much of the detail is still being discussed. There are differences within the German cabinet and between eurozone countries. However, a broad outline is emerging. Germany will agree to increase the lending power of the main bail-out fund (the EFSF) so …

Reliving the DeLorean experience in Belfast…

Mick Fealty on February 1, 2011, 10:00 am

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Duncan Campbell’s 2009 short film ‘Make it new John’ is on at Belfast Exposed on Thursday night. The archive footage is almost enough to make you crave for early 80s Belfast when the cars rolled daily down the Donegall Road on their way to export from the docks. Much rarer than an 1950s Morris Minor, you can still buy one (when they come in), or have your old one serviced from the new DMC. But even the parts will cost …

“But Sinn Féin is different from the other political parties…”

Pete Baker on January 31, 2011, 5:14 pm

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He has only just moved there, after all… but RTÉ’s 20 minute interview with the Crown Steward and Bailiff of the Manor of Northstead, Gerard Adams, is worth listening to in detail. Mick’s already noted the claimed introduction of a “warm weather payments” in the last (Stormont) budget. The Irish Times notes that… SINN FÉIN president Gerry Adams has said that telling the IMF “to go home and take their money with them” remained his party’s policy. His said his party, …

Gerry, ‘warm weather payments’, and cleaning up the south’s political act

Mick Fealty on January 31, 2011, 1:01 pm

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Sam McBride of the News Letter, has been listening to Gerry Adams on RTE’s This Week programme (interview starts 6.44 in): Quizzed about Sinn Fein implementing cuts in Belfast while opposing them in Dublin, Mr Adams told RTE Radio 1’s This Week programme yesterday afternoon: “Now, what did we establish in the last (Stormont) budget? “For example, we made sure that those who are most vulnerable are protected. We brought in warm weather payments, we brought in a social fund …

“as someone who only moved here a week or two ago…”

Pete Baker on January 29, 2011, 2:42 pm

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The Crown Steward and Bailiff of the Manor of Northstead, Gerard Adams, has defended his lack of knowledge of “the minutiae” of Ireland’s economic policies. From the Irish News …last night Mr Adams claimed he should not be expected to know the finer details because of his recent move from West Belfast to contest the Dail election for Louth. “I wouldn’t be expected – as someone who only moved here a week or two ago – to know the minutiae,” …

DRD Minister intends to grant £8.6million to City of Derry Airport

Pete Baker on January 28, 2011, 2:50 pm

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Some £60-odd million has been spent by various administrations on the City of Derry Airport in recent years – including £19million in 2008 on “safety work”. And still no sign of a buyer… But, as the Irish Government prepares to cut the subsidy it provides for the Londonderry-Dublin flight, the Northern Ireland Regional Development Minister, Sinn Féin’s Conor Murphy, has announced his intention to grant £8.6million to the airport for further “essential safety works”. Even though he has yet to secure …

Hearts and Minds: Can Gerry cut it in the economic cut and thrust?

Mick Fealty on January 28, 2011, 1:59 pm

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Nice snippet from last night’s Hearts and Minds (oh, dear, yet more Slugger grist to the Gerrynomics mill)… Sam Smyth Martina Purdy and the urbane David McKittrick… And for context, here’s Smyth’s Financial Dunderhead article from yesterday’s Independent… And a snippet from that embarrassing Newsline interview…. Mick FealtyMick is founding editor of Slugger. He has written papers on the impacts of the Internet on politics and the wider media and is a regular guest and speaking events across Ireland, the UK …

New taxing powers for Scotland: a sensible step or a botched job?

Brian Walker on January 27, 2011, 1:50 pm

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A major but flawed step in developing devolution is being taken as the Commons debates the Scotland Bill today, giving the Scottish Parliament the right to levy up to 10% income tax and some lesser measures. Alan Trench powerfully critiques the Bill in his blog Devolution Matters. Already nervous NI opinion dipping their toes into the choppy waters of devolution finance over a differential corporation tax will probably have a fit when they read this. The Bill would make the …

Moral hazard is about behaviours not structures…

Mick Fealty on January 26, 2011, 12:26 pm

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If you can get it, John Kay’s column in today’s FT is worth a peruse. Not least since he’s sounding a warning whistle that beefing up regulation is not the way to smarten the market or protect tax payers interests. In particular he sounds a note that will be familiar to those of us who witnessed the Irish government’s gung ho short cut to shoring up its banking sector: “It is sometimes tempting to think that guarantees that are not …

The Climate Change Response Bill 2010 is dead….long live the climate bill

Peter Doran on January 25, 2011, 5:56 pm

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An update on the status of climate change legislative proposals after the collapse of the Fianna Fail-Green Party coalition government.

US Economic Envoy to NI: “It’s no longer somebody else’s problem.”

Pete Baker on January 25, 2011, 3:53 pm

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The US Economic Envoy to Northern Ireland, Declan Kelly, was here on a one-day visit yesterday. According to a statement from the NI Secretary of State, Owen Paterson The Secretary of State discussed with him how the Government could, in partnership with the Executive, help develop the private sector and attract new foreign investment. He outlined his thinking of the possibility of permitting the Northern Ireland Executive to reduce the rate of Corporation Tax, on which a consultation paper is in …

Gerry Adams: “We would negotiate with the bond market…”

Pete Baker on January 25, 2011, 2:46 pm

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Politics.ie characterised it as a “ding dong” between Fine Gael spokesman Leo Varadkar and the still MP for west Belfast, Gerry Adams, on RTÉ’s Morning Ireland. But it’s probably not as bad as that 2007 debate… It’s towards the end of the 13 minute clip [RealPlayer audio file] that Adams displays what Leo Varadkar refers to as “his ignorance of economics”. “We would negotiate with the bond market after we have straightened out the crisis in our own economy,” [Adams] said. That would …

Euro crisis: Frau Bundeskanzlerin answers history’s knock

Pete Baker on January 20, 2011, 1:38 pm

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History has been knocking for some time… and, for good or ill, Angela Merkel “is perceived to set policy, pace and tone at every turn.” But has the public been softened up sufficiently for historic change? In the Irish Times Derek Scally reports from Berlin In recent off-the-record briefings, the German leader has shown an unusual determination for the task she has set herself. She wants “real harmonisation”, not just “closer co-ordination”. After months of silent backing for her euro zone strategy, leaders in Scandinavia …