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Ireland Makes Fresh Plea For Longer Ecb Bank Lifeline

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http://uk.reuters.com/article/2011/03/25/uk-eu-ireland-idUKTRE72O4FJ20110325

Ireland's prime minister has made a new plea to the president of the European Central Bank to extend its lifeline to the country's banks, giving Dublin more time to tackle problems many fear are worse than forecast.

The ECB, which is supporting Irish banks by lending them money they would normally borrow from peers, wants to withdraw the assistance gradually, but Irish Prime Minister Enda Kenny sought to persuade ECB President Jean-Claude Trichet not to cut short the support.

"I reminded him of the importance of it," Kenny told reporters at a meeting of EU leaders on Friday when asked about extending liquidity support to Irish banks over a longer term.

"I said obviously when the bank stress test results become known next week we will be back again to have further discussions with the ECB."

Mexican stand off looming? The Irish banks are zombies the ECB can never withdraw funding from them because if they do they will collapse. There is no way they can tap normal wholesale funding.

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10.8% plunge in Irish house prices

(UKPA) – 9 hours ago

House prices in Ireland are falling at a double-digit rate but property values in other countries are showing signs of stabilising, research has indicated.

The average cost of a home in Ireland dropped by 10.8% during 2010 as the market suffered from the fall-out of the country's economic problems, according to estate agent Knight Frank.

The drop was the biggest recorded for the total of nearly 50 countries looked at by the group. The pace of the falls are also showing little sign of easing, with property losing 3.5% of its value during the final quarter alone.

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10.8% plunge in Irish house prices

(UKPA) – 9 hours ago

House prices in Ireland are falling at a double-digit rate but property values in other countries are showing signs of stabilising, research has indicated.

The average cost of a home in Ireland dropped by 10.8% during 2010 as the market suffered from the fall-out of the country's economic problems, according to estate agent Knight Frank.

The drop was the biggest recorded for the total of nearly 50 countries looked at by the group. The pace of the falls are also showing little sign of easing, with property losing 3.5% of its value during the final quarter alone.

Knight Frank again; you couldn't make it up, but Knight Frank can.

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Obviously their printing presses don't have adequate capacity because they were reported to be counterfeiting huge quantities of their own money (euros) not so long ago.

Really they might as well not have a "Prime Minister" for what good they are and the mess they've got Ireland into - and it would save on wages.

Edited by billybong

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Knight Frank again; you couldn't make it up, but Knight Frank can.

Other countries prices shows signs of establishing.....these people can never stop spinning..

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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