In 2008 economist Nouriel Roubini earned widespread ridicule for claiming that the embryonic problems in the US subprime sector would mutate into an existential financial crisis that would cost the banking system over $1 trillion (€721bn).
Tue, 11 Mar, 2014
A new programme of long-term refinancing operations to depress borrowing costs, interim arrangements for a bank resolution fund and an assurance Greece does not need a third bailout, were all part of Mario Draghi’s reassurances that the euro and the economic recovery were going in the right direction.
Tue, 24 Sep, 2013
Labour ministers Eamon Gilmore and Pat Rabbitte are “technically correct” that the agreement with the troika is to reach a 5.1% budget deficit target by 2014, but it will come down to a “game of poker” whether the Government will be allowed ease up on the €3.1bn in consolidation planned for October’s budget, according to UCD economics professor Karl Whelan.
Thu, 01 Aug, 2013
THE myth that crippling austerity measures have been anything other than disastrous for this country was finally nailed by this newspaper yesterday, when it revealed that the IMF hugely underestimated the devastating impact of a relentless programme of tax increases and spending cuts.
Wed, 10 Oct, 2012
IN CASE you missed it while gorging on turkey at the weekend, the latest zany instruction from Government is to “embrace a policy of realistic optimism” — as opposed to the unrealistic optimism we all evidently suffered from in advance of the election.
Wed, 28 Dec, 2011
THE main banking stocks pulled the ISEQ index of Irish shares upwards yesterday, on the back of the announcement of the planned new “Basel III” capital rules for European banks, which are aimed at preventing another serious banking sector meltdown.
Tue, 14 Sep, 2010