Regulatory restrictions ‘stifle’ credit union growth

The credit union sector is overburdened with regulatory restrictions and limitations, which is stifling its growth potential. That is according to Fianna Fáil finance spokesman Michael McGrath, who was commenting on new figures showing that there are 189 credit unions […]

Nama eyes end of loan provision

Nama expects that it may no longer need to make impairment provisions because property prices have recovered rapidly. Chief executive Brendan McDonagh said yesterday that the agency “is reasonably confident” that the era of making provisions against its portfolio of […]

Nama holdings in Cork, Limerick and Galway revealed

New figures suggest Nama is less exposed to rural property developments outside of the big cities than once thought. The asset management agency yesterday produced details of its portfolio investments across Ireland. Its 2014 annual report says that the “urban-centric” […]

Nama sticks to Government plan to close its doors by 2020

Nama is sticking to the Government’s plan to have ended most of its operations by 2018, and to shut its doors by 2020. Chief executive Brendan McDonagh, chairman Frank Daly, and Michael Noonan, the finance minister, said there would be […]

Greece plays down fears of debt default

Greece and its Europeans creditors yesterday sought to play down fears that Athens would default on a payment to the IMF next week. Running short of cash to pay salaries, pensions and debt obligations, senior members of Alexis Tsipras’s government […]

European companies lay off staff due to late payments

European companies could hire substantially more staff if they could only secure timely payments for their invoices, a leading credit management company has said. Intrum Justitia said its survey of 8,979 companies across Europe showed that one in three enterprises […]

Average hourly wages rise only 1c in past four years

Average hourly earnings across the economy have risen by a meagre 1 cent to €22.23 since the worst of the economic crisis four years ago. It suggests that the large numbers of unemployed and under-employed are keeping a brake on […]

Ireland ‘benefiting’ from Greek debt crisis

Ireland is surprisingly benefiting from the Greek debt crisis, with the weaker euro against its major UK and US trading partners instead providing a significant economic boost, experts say. The claims come as the countdown continues towards Greece either failing […]

Broad-based jobs growth positive but road is long

Labour market figures, published by the CSO last week, for the first quarter of 2015 contained more good news on the Irish economy. The data show that Ireland is seeing strong, broad-based job growth, with sharply falling unemployment, writes Oliver […]

Greece rules out capital controls

Greece’s government has ruled out restricting access to bank accounts and the free movement of money if there is no breakthrough soon in tortuous talks with bailout creditors and its dwindling cash reserves dry up. The possibility of imposing capital […]

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