Posts Categorized: Practicenet News

Juncker unveils €300bn investment plan to kick start EU growth

European Commission President Jean-Claude Juncker presented a plan today to leverage some €300bn of largely private new investment in the European Union, saying it was time to kick-start growth without adding to public debt. Underlining the need to maintain efforts at structural reforms of aging economies and pare back debt and deficits run up during… Read more »

Budget a missed chance to cut debt, says watchdog

THE state’s budgetary watchdog has hit out at the Government over Budget 2015, saying it was a missed opportunity to further fix the public finances. The Fiscal Advisory Council said the State’s debt level will now be €10bn higher in 2018 because the Government “backtracked” on plans to impose a further €2bn in austerity in… Read more »

Take GDP growth with ‘pinch of salt’ – state watchdog

THIS year’s growth forecast is being boosted by accounting anomalies from certain companies, the state’s budgetary watchdog has said. The Department of Finance has projected growth this year of 4.7pc, but the Fiscal Advisory Council has said gross domestic product in the first half of the year was inflated by so-called contract manufacturing involving possibly… Read more »

Irish bonds fall to record low

The yield on Irish government bonds fell to a record low of 1.477 per cent this morning, the lowest level since Bloomberg started collecting the data in 1991. Meanwhile, gains in Spanish government bonds pushed the yield below 2 per cent for the first time, amid speculation the European Central Bank will buy sovereign debt… Read more »

EU approves final Nama loan transfers two years after sale

The European Commission has cleared the final transfers of €47bn of loans to Nama from the main banks. Nama paid the banks €18.995bn for the loans – a discount of around 60pc compared to the face value. However, the Commission’s report said the market value of the loans was €15.681bn. The Commission calculated that the… Read more »

Draghi says ECB ready to act fast to tackle low inflation

The European Central Bank is ready to act in a timely manner if low inflation persists, ECB President Mario Draghi said today. “We will continue to meet our responsibility – we will do what we must to raise inflation and inflation expectations as fast as possible, as our price stability mandate requires of us,” Draghi… Read more »

Troika warns new water plan risks return to austerity

Missed budget target would plunge the country back into cuts and tax hikes. The Government’s new water charges plan puts the country at risk of missing the Troika’s budget target next year and plunging the country into another round of cuts and tax hikes, EU officials warn. The Troika has also been surprised at the… Read more »

Ireland cleared to pay IMF loans early after Swedish vote

The Swedish parliament yesterday said Ireland may pay back part of its bailout loans early to the International Monetary Fund. This was the final EU approval needed for the Government to begin repayment of the IMF loans. Ireland secured agreement from Europe to pay the IMF before it repays aid from the European bailout funds… Read more »