A commercial real estate expert has claimed the RTÉ show which predicted the crash was “scaremongering” and the much maligned “soft landing” could have happened if the global economic crisis did not occur.

THE media was all over the news last week, says Michael Clifford.

Two leading national newspapers have rejected claims they bought into the property boom, despite one purchasing a property website for €40m and another holding a “glittering” award gala for developers.

RTÉ was not a cheerleader for the boom despite its series of high-profile house-buying programmes, the banking inquiry has heard.

The powers-that-be in Brussels held Ireland as the shining example of economic excellence throughout the Celtic Tiger and, excepting David McWilliams and Dr Morgan Kelly, who were pilloried, nobody in Ireland questioned the basis of the boom.

This State would appear to have little time for anybody who stands apart from the herd. Time and again, whether it’s the musings of economist Morgan Kelly or the revelations of a number of whistle- blowers, organs of the State tend to close ranks and shut out dissonant voices.

Property-related debt among SMEs is concentrated among a relatively small number of firms, which have much higher default rates than the industry average, according to the Central Bank.

Amid the recent positive news of rising house prices and the economy picking up, there are some very disturbing indications about which everybody should be conscious.

Up to €8.6bn in loans — one in every four held by the covered banks to small and medium businesses — are in arrears over 90 days.

The forthcoming ECB stress tests are unlikely to cause any major problems for Irish banks, according to NUIG economics lecturer and former government adviser Alan Ahearne.

The overall indebtedness among Irish SMEs is not at a level that will trigger a wave of company foreclosures and presage another economic crisis, according to research conducted by the Central Bank.

The Central Bank says it will not disclose how much SME debt has been restructured by the pillar banks.

I’M BEGINNING to think there are two bank bailouts: one for boys and one for mammies.

Your recent editorials shine a spotlight on the grim realities overshadowing two fundamental elements of our wellbeing as a mature and thriving society — “dumbing down education” and “health services crisis” (The Irish Examiner, March 11, 2014).

The total amount of credit outstanding to SMEs in the real economy is €24.5bn and not the figure of €58bn that has been circulating in the media over the past week, according to the Central Bank.

Well done to the Irish Examiner for making Professor Morgan Kelly’s latest warning its front-page lead (Irish Examiner, 10/3/14), the only national daily to do so.

This week The Small Business Show looks at the latest news for SMEs including Professor Morgan Kelly’s comments on SME loans in Irish banks. Kehlan also travels to Limerick to talk to winners of the counties Student Enterprise Awards and looks at the plight of the Irish fishing industry as John Nolan from the Castletownbere Fisherman’s Co-Op explains why change is needed in attitudes towards the industry. The final part of the show spotlights Natasha Sherling, a gemmologist, diamond dealer and private jeweller.

Economist Jim Power said that he is loath to challenge Professor Morgan Kelly but he can’t see why the European Central Bank would take a ‘big bang’ approach to Irish SME debt.

Finance Minister Michael Noonan has called on UCD economics professor, Morgan Kelly, to contact the Central Bank over his claims that SME debt could sink the economy.

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).

Economist Morgan Kelly’s warning that the “real crisis” for the economy may lie ahead is chilling and deeply dispiriting.

The Minister for Finance Michael Noonan has said the Central Bank should contact UCD economist Morgan Kelly to discuss his predictions of a 'meltdown' for SMEs.

The main players in Ireland banking sector have said there is no "real basis" for claims from a leading economist that small and medium firms are facing a "wipe-out".

Ministers have been accused of ignoring the threat of a new economic crisis triggered by a wave of businesses forced to go bust.

Ruairi Quinn’s speech at the Magill School was full of little gems. My favourite is “.... in equipping our young people for the future, we know that the acquisition of knowledge itself will no longer be a key skill.”

ENDA Kenny’s presidential address to the Fine Gael conference included the obligatory sentence: “Ireland will not default on its debts”.

THE 2012 foreign investment harvest is starting to look pretty good.

IN the past week several publications have emerged which indicate that far from the house price crash reaching the bottom it appears, at least if you believe daft.ie, to be accelerating.

ON the eve of an EU summit, where a draft new treaty emerges, expect a return of the “no alternative” brigade.

A senior Minister has today defended the Government's handling of the mortgage crisis, insisting there was no confusion in Cabinet on how to tackle the problem.

Banks have enough money to write off some mortgage debt after being bailed out by the taxpayer, Finance Minister Michael Noonan has claimed.

Confusion over the possibility of the introduction of full or partial debt-forgiveness is increasing.

LABOUR backbenchers rolled in behind party leader Eamon Gilmore after he rejected suggestions by fellow Cabinet members for a wide-scale debt relief scheme for distressed mortgage holders.

A SPLIT has emerged in the Cabinet over calls for a national debt relief scheme for troubled mortgage holders.

Social Welfare Minister Joan Burton said today that Ireland needs a debt resolution mechanism that would aim to reach agreement between debtors and bank, and avoid the issue coming before the courts.

A UCD professor in Economics Karl Whelan has said one of the problems in Ireland is that the country does not have a "functioning personal bankruptcy regime".

STRUGGLING mortgage holders eager to move home for work purposes may be helped under radical plans being considered by the Government.

Presidential hopeful Sean Gallagher has backed calls for a debt forgiveness scheme for struggling homeowners.

Junior Minister at the Department of Finance Brian Hayes has described as "unrealistic" a blanket approach to debt forgiveness for mortgage-holders.

THE Government has played down the possibility of introducing a mortgage debt-relief scheme for struggling homeowners.

WITH his €6bn mortgage debt forgiveness price tag, Morgan Kelly has once again lobbed a hand grenade onto the refuseniks’ patch.

IT is good that the debate about families being crushed by unsustainable mortgages is gathering a new urgency.

Leading economist Morgan Kelly has said a €6bn bailout for struggling homeowners would end the crisis in Ireland.

A €6 BILLION bailout for householders in mortgage arrears that would allow those hopelessly indebted to walk away from their home loans would solve the current crisis, according to the economist credited with predicting Ireland’s property demise.