Monthly Archives: November 2010

Oh wise one…

Michael Somers, one of the most powerful civil servants in the State through the boom years; “… I think we need to be careful that we don’t go in for over-regulation, over-control. I think we need to ease up a  bit in terms of political correctness and such likes, I think we’re being unduly politically… Read More »

Tracking the EU's structural funds

The Bureau of Investigative Journalism in London, a Potter Foundation-funded investigation unit, has partnered with the Financial Times to shine some light on how the €347bn of European structural funds is distributed. For eight months the Bureau and the FT have systematically sought details of how EFSF and ESF monies are used in all 27… Read More »

How far we done fell

It’s 2am. I just checked the news for the first time in 24 hours. Forgive the following poorly-written mind-dump. Comments and abuse though are of course still most welcome. The figure won’t be 6.7%, but it will be too much. 6.7% is a senseless and idiotic figure. You’ve got to think the announced rate will… Read More »

Worth watching

The two videos below have started doing the rounds on Facebuke and The Twitter. So if you haven’t seen them… First up, an RTE report from March 2000 on an ERSI quarterly that was dismissed by Bertie Ahern and Charlie McCreevy. Brian Cowen also features in it; foreign affairs minister at the time, I think?… Read More »

Orthodoxy and heterodoxy

Notable comments in international blogosphere in reaction to four year plan. FYI; Bond spreads still rising. Krugman… What’s going on here? In a nutshell, Ireland has been orthodox and responsible — guaranteeing all debts, engaging in savage austerity to try to pay for the cost of those guarantees, and, of course, staying on the euro.… Read More »


Instead of talk of bailout, now talk has turned to default. Ireland simply cannot afford to repay its debts. S&P has again cut our sovereign debt rating. This is going to be an interesting few weeks. And to remind our readers (and welcome new ones) here’s what our Financial Regulator said in October 2008: May… Read More »

Scannal on Insurance Corporation of Ireland

Scannal (the excellent sub-titled part-As Gaelige documentary show on RTE One) was – in an amazingly perfect event of ironic timing – about the Insurance Corporation of Ireland last night. ICI was a significant subsidiary of AIB which collapsed in 1985. The taxpayer bailed out AIB. It eventually cost us IR£400m, a massive figure at… Read More »