Jump to content
House Price Crash Forum

Media articles from THE REPUBLIC OF IRELAND


Guest Lagansider

Recommended Posts

Like you I am an avid Firefox user too PP and I have never had any problems (shameless plug for Firefox!). Malthus's problem (and propbably BVI's too) stemmed from the visual (RTE) Editor being enabled. It looks like the Rich Text Editor (RTE) only works with certain browser releases.Whether this carried across accidentally for IE or other browsers following the board upgrade I am not totally sure. The main thing is though that it looks like we have a solution to the problem.

I use Google Chrome, which normally worls very well.

I have un-ticked the RTE button, as there is very poor reception in Belfast anyway.

And that appears to work - thanks

Edited by BelfastVI
Link to post
Share on other sites
  • Replies 1.9k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Posted Images

http://www.rte.ie/news/2009/1124/partnership.html

the bearded brethren while determined to bankrupt the state and hasten the IMF entry to sort the mess that the government/unions have created have decided to give newry another bumper trading day with another strike day next week,

all the civil servants and teachers are xmas shopping in the north today rather than manning the cold,wet picket lines., just more greedy selfish hypocrites .

Link to post
Share on other sites
  • 2 weeks later...

nicked from main page

http://www.bloomberg.com/apps/news?pid=20601109&sid=aQw1pm.Qz9sg&pos=15

'Vultures’ in Ireland Grab Champagne, Mercs in Recession Sales

By Dara Doyle and Louisa Fahy

Dec. 4 (Bloomberg) -- The worst recession in Ireland’s modern history has turned the country into a bargain basement with cut-price champagne, country houses and Mercedes cars.

The liquidator of Dublin wine importer Parbind is selling boxes of six bottles of Bernard Remy rosé champagne for 132 euros ($199), down from the original tag of 205 euros. Elsewhere, prices of empty homes have been slashed by as much as two-thirds as property developers are forced to wind up.

“It’s a bit like old vultures over the carcass,” said Donall O’Murchu, a retired school teacher, avoiding shoppers with trolleys laden with cases of Parbind wine. “You see all sorts of places coming down. The recession seems to be biting.”

Ireland’s decade of breakneck economic growth made it one of the richest countries in the world, alongside Switzerland and Austria, and with that new wealth came unprecedented demand for faster cars, fancier homes and finer wines. The abrupt end to that boom has made the country prime ground for deal-hunters.

Accounting firm KPMG LLP is selling 23,000 cases of wine at a discount of as much as 60 percent as it liquidates Parbind to try to pay creditors. The wine wholesaler joined developers, pub owners and car merchants struggling to meet debts as consumers spent less and unemployment rose to a 14-year high.

‘Going Bust’

The government estimates that economic output will shrink 7.5 percent this year, more than anywhere in the euro region. Ireland’s economy doubled in size in the decade through 2007, the period when the country became known as the Celtic Tiger.

“It’s not nice to see businesses going bust, but it’s a reflection of the economy,” said Rebecca Wilson at Wilson Auctioneers, which handles wine, car and furniture sales for insolvency accountants. “We are certainly much busier now.”

The company held a sale of 200 cars in October, including a silver 2006 Mercedes C200 CDI, which sold for 17,500 euros, about 20 percent less than the usual retail price, according to the auctioneer. About 1,200 people showed up at the auction, said Ricky Wilson, general manger and brother of Rebecca.

“Everyone is looking at how much they have in their pocket,” said Ricky Wilson. “It’s the fashion. People are looking to buy used goods.”

The number of insolvencies in Ireland more than doubled to 1,209 in the 10 months through October, according to the InsolvencyJournal, a Web site that compiles reports.

Taking Action

“Banks are taking enforcement action by appointing receivers and many unsecured creditors are quick to petition for a liquidation,” said Declan Black, head of insolvency at Dublin business law firm Mason, Hayes and Curran.

In Newbridge, outside Dublin, all 45 two-bedroom apartments at Capella Court sold after agent HT Meagher O’Reilly slashed prices last month to about 125,000 euros from a high of 322,000 euros on instructions from a bank-appointed receiver.

“We are going to see more of this,” said David Browne, a director at Dublin-based HT Meagher O’Reilly, which sells homes in the area surrounding the capital. “Everything has a price.”

House prices have fallen by about 25 percent from their peak in 2007, based on an index compiled by Irish Life & Permanent Plc, while land sites have plunged by as much 90 percent, according to the Dublin Docklands Development Agency.

Ireland’s government has had to plough 3.5 billion euros into each of the country’s two biggest lenders, and nationalized Anglo Irish Bank Corp. as bad debts mounted.

Half Price

Browne is also looking for 3 million euros for a block of 31 apartments in Mulhuddart, west Dublin. The complex had previously been valued at about twice that amount.

He’s selling homes in a third development, Rocky Valley Estate in Wicklow, for 800,000 euros, down from 1.8 million euros. Rocky Valley, about 20 miles south of Dublin, has views of the surrounding Wicklow mountains.

The houses feature under-floor kitchen heating and central heating that can be controlled by mobile phone. “We have to clear the stock,” said Brown. “There’s no other way.”

Back in Dublin, at the wine sale, a line of customers snaked onto the street last week less than an hour after the doors opened. Bargains included a box of 12 bottles of Pinot Grigio white wine reduced by 60 percent to 73 euros.

“It’s Christmas time,” said David Doyle, as he browsed the cases. “Everyone’s looking for a bargain.”

Link to post
Share on other sites

while the church and its little indescretions

may not have to worry about the guadai

the taxman is another story!

http://www.independe...or-1965150.html

rock on!

" Fr O'Donovan, a Whitechurch, Co Cork curate, had accused the Revenue Commissioners of being "the biggest shower of b******s on the planet, an almighty shower of c***s -- may God forgive me", and even blamed them for a recent suicides in Ireland. "

Priceless.:D

Link to post
Share on other sites

I recall my relative in the Dep of Finance talking about the widespread tax evasion that was happening. Small timers (and probably big timers) knew that their neighbours had gotten away with not declaring income on properties etc. so everyone thought that, if Revenue didn't find you straight away then you were safe. However, the Revenue can come after people years after an event, which is what is happening now I suspect.

Link to post
Share on other sites

http://news.bbc.co.uk/1/hi/business/8417611.stm

The Irish economy saw modest growth in the third quarter of this year.

Figures just released by the government's statistics agency showed gross domestic product rose by 0.3% compared with the quarter before.

The figure indicates the country has pulled out of what was one of Europe's worst recessions.

The economy shrank by 7.4% compared with July to September last year, although that is better than the second quarter's year-on-year fall of 7.9%.

Have the stats boys in Dublin been on the beer? ;)

Edited by Malthus
Link to post
Share on other sites

soooo predictable! Tell me is it a pre-condition when making contributions to this forum that all positive news must be ridiculed?

http://www.rte.ie/business/2009/1217/economy.html

'Recession over' suggestions rejected

watch Thursday, 17 December 2009 17:53

New figures show signs that the Irish economy remained weak in the third quarter of this year, even though gross domestic product actually grew slightly during the three-month period.

This sparked a debate about whether the country had come out of recession, as the technical definition of a recession is two quarters in a row of falling GDP.

The Central Statistics Office said the economy, measured by GDP, shrank at an annual rate of 7.4% in the third quarter, slightly less than the 7.9% drop in Q2.

Advertisement

GDP compared with the second quarter showed a small rise of 0.3%. But as GDP includes profits made by US multi-nationals based here, many economists prefer to focus on gross national product (GNP). This showed a quarterly fall of 1.4% and an annual drop of 11.3% in the third quarter.

A breakdown showed that consumer spending remained weak, with a fall of 7.3% compared with a year earlier, while capital investment slumped 35%. These falls were both bigger than in the second quarter. Industrial production was down 9.6%, with the construction part of this dropping by 34.4%.

But exports contributed €2.8 billion more to the economy than in the third quarter of last year, indicating a strong performance from multinational companies based here.

Separate CSO figures showed that the balance of payments current account deficit in the third quarter was €902m, down almost €2 billion from the €2.9 billion deficit a year earlier. The CSO says the reduction was mainly due to a €2.2 billion increase in the merchandise surplus because of a sharp fall in imports. The balance of payments measures flows of income into and out of the economy.

Recession 'easing but not over' - economists

Davy economist Rossa White - who focused on the GNP figures - said the economy remained in recession, and he did not expect GNP to start growing until the first quarter of next year.

He said the GDP rise over the three months was helped by the continuing strong performance of foreign-owned multinational companies.

Bloxham economist Alan McQuaid said the quarterly figures were relatively new and 'there appears a reluctance on the part of the Central Statistics Office to stand over the reliability of the numbers'. He said Irish analysts continued to focus on the year-on-year change in both GDP and GNP, which were down quite sharply again.

'Still, given that international commentators put so much emphasis on quarterly changes in GDP, we shouldn't downplay the Q3 increase too much, and in fact should take some consolation that on this basis, Ireland came out of recession ahead of the UK,' the economist said.

IIB economist Austin Hughes said the quarterly rise in GDP did not reflect the reality of drops in incomes and employment. 'The recession is easing, not over,' he added.

The economist said today's figures supported the view that the worst was over for the Irish economy, but they also hinted at a 'possibly protracted' bottoming out process. Mr Hughes said it may be some significant time before a palpable sense of an upturn becomes established.

Goodbody's Deirdre Ryan said today's data clearly indicated that a better than expected performance from multinationals was masking a very weak domestic environment, where there is still further weakness to come.

Ulster Bank said it was premature to use the data to declare that the recession has ended. It pointed out that a breakdown of the figures showed that every category of spending fell between Q2 and Q3. Spending by consumers fell by 0.7%, government spending was down 0.9%, investment fell by almost 10% while spending by foreigners on Irish exports was down 0.6%.

NCB also pointed out that there were large downward revisions to the Q2 figures. GDP was revised from flat to a 0.6% quarterly drop, while GNP was revised down by a full 1.2 points to show a 1.7% decline from Q1.

'Growth has returned thanks to net exports, but shrinking imports outpacing shrinking exports is not a sustainable way for an economy to boost employment, which is ultimately needed for a sustainable recovery,' it said.

ICTU's economic advisor Paul Sweeney said the deflationary impact of Budget 2010 meant the economy would continue to decline in 2010.

'With a fall in national income in the year to September of a massive 11.3% in GDP, there is only ice-cold comfort in hoping that because it is fractionally less than the decline of over 12% in the previous two quarters, the recession may be bottoming out,' he said.

Link to post
Share on other sites

Another solicitor bites the dust ... or does he?

Earlier the solicitor had told the court he had appealed to the Supreme Court against a previous order requiring him to provide an affidavit of means after he had a dispute with a law firm which had represented him in the disciplinary matters.

He said he had never consented to supplying a statement of means and had wanted to know why it was being sought.

After he was asked by Mr Justice Kearns whether he had “any idea of the gravity of the situation”, Mr Murphy said he did and later agreed to provide the affidavit of means.

The judge said he had made it clear matters of this nature had to be dealt with quickly both in the public interest and in the interests of the solicitors’ profession.

The judge refused a Law Society request that Mr Murphy also provide details of his property portfolio as, the judge said, this would add further delays to getting his affidavit of means.

This guy's trick was to take a cut of his clients' personal injuries compensation, so not directly property related. But Irish solicitors were some of the biggest fools for real estate during the boom, and presumably that's where all the money was funneled.

Surely the court will investigate the property portfolio at a later date? Somehow I doubt he still has direct ownership, unless he's been unable to offload at a price that covers the mortgages.

http://www.irishtimes.com/newspaper/ireland/2009/1219/1224260976402.html

Link to post
Share on other sites

Brilliant article. Thanks for the link.

I'm currently looking for a job in Cork so that I can move back there :o

http://www.examiner.ie/business/average-monthly-mortgage-repayments-down-by-43-108687.html

you,d need to be quick if you,re thinking off buying a house in cork , as kevin mc nerney (who makes a living from selling mortgages whether affordable or not)thinks nows a great time to buy ,

is there ever a time when these parasites might consider a bad time to buy?

Link to post
Share on other sites

http://www.irishtimes.com/newspaper/breaking/2010/0111/breaking66.htm

Sometimes legalise is almost like poetry

Mr McNamara is no longer a person of signficant net worth given he has no unencumbered assets and the position of himself and his company was getting worse every day, counsel said. His clients were already down €30 million as Donatex had no asset other than the IGB site contract.

How many other "wealthy" people out there would now be covered by this phrase ? :ph34r:

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 442 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.