Opening old wounds
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In Ireland, Austerity Is Praised but Painful (Published 2011)
Deirdre Cronin, right, and her family are leaving Ireland.Credit...Eoin O Conaill for The International Herald Tribune DUBLIN — As European leaders scramble to overcome the Continent’s debt crisis, many are pointing to Ireland as a model for how to get out of the troubles. Having embraced severe belt-tightening to mend its tattered finances, Ireland is showing glimmers of a turnaround. A year afte
Ireland goes to polls after bitter presidential campaign
Irish voters go to the polls on Thursday in the most fractious presidential election campaign since the republic was founded, with controversy dogging a number of the candidates. Sean Gallagher, the TV star businessman and, until recently, frontrunner in the race, will learn later if allegations that he was a "bag man" for the Fianna Fáil party have ruined his chances of winning. During the last t
Queen's Dublin speech draws praise
In a speech at a state dinner at Dublin Castle, the Queen speaks of 'sad and regrettable history' Reuters Reacting to the Queen's only speech during her four-day visit to the Republic, the Sinn Féin president said: "I believe that her expression of sincere sympathy for those who have suffered as a consequence of our troubled past is genuine." The prime minister also praised the tone of the Queen's
Ireland's future depends on breaking free from bailout
Ireland's future depends on breaking free from bailoutOPINION: Ireland is heading for bankruptcy, which would be catastrophic for a country that trades on its reputation as a safe… OPINION:Ireland is heading for bankruptcy, which would be catastrophic for a country that trades on its reputation as a safe place to do business, writes MORGAN KELLY WITH THE Irish Government on track to owe a quarter
When Irish Eyes Are Crying
First Iceland. Then Greece. Now Ireland, which headed for bankruptcy with its own mysterious logic. In 2000, suddenly among the richest people in Europe, the Irish decided to buy their country—from one another. After which their banks and government really screwed them. So where’s the rage? When I flew to Dublin in early November, the Irish government was busy helping the Irish people come to term
From defiance to capitulation: six days that humbled Ireland
Bailout? Not a chance. Ireland's government could hardly have been clearer. As rumours swept across Europe last weekend of secret negotiations on a multibillion-euro rescue package, minister after minister went on air with vitriolic rebuttals. "Fiction," snapped minister of justice Dermot Ahern in a radio interview last Sunday. Tourism minister Mary Hanafin, just back from meeting alarmed Irish ex
Worse to Come, Says Ireland's 'Dr. Doom'
By Robert Mackey November 18, 2010 3:51 pm November 18, 2010 3:51 pm Updated | 6:12 p.m. As my colleague Landon Thomas explained early last year, Ireland’s slow-motion economic catastrophe did not take everyone by surprise. Morgan Kelly, who teaches economics at University College Dublin, “began sounding the alarm of a coming real estate crash in late 2006, the peak of the property boom,” Mr. Thom
Ireland bailout worth 'tens of billions' of euros, says central bank governor
The Irish central bank governor this morning gave the first official confirmation that a rescue package worth "tens of billions" of euros was being prepared to shore up Ireland's embattled banking sector. Speaking as Ireland prepared to open its books to financial experts from the European Union, European Central Bank and International Monetary Fund, Patrick Honohan said he was expecting a "very s
Ireland bailout: Dublin's defiance over aid risks fresh market turmoil
The Irish government risked provoking a renewed backlash from financial markets today after resisting pressure at an EU meeting last night to accept a bailout plan for its stricken banking industry. Finance ministers of the 16 eurozone member countries who came together in Brussels decided to "intensify talks between Ireland, the European Union, the European Central Bank and the International Mone
If you thought the bank bailout was bad, wait until the mortgage defaults hit home
If you thought the bank bailout was bad, wait until the mortgage defaults hit home THE BIG PICTURE: Ireland is effectively insolvent – the next crisis will be mass home mortgage default, writes MORGAN KELLY… THE BIG PICTURE:Ireland is effectively insolvent – the next crisis will be mass home mortgage default, writes MORGAN KELLY SAD NEWS just in from Our Lady of the Eurozone Hospital: After a sudd
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