Economic history of Ireland http://www.globalpost.com/taxonomy/term/31149/all en Anglo Irish Bank deal gets ECB green light http://www.globalpost.com/dispatch/news/afp/130207/anglo-irish-bank-deal-gets-ecb-green-light-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Ireland has reached a landmark deal with the European Central Bank to re-structure the massive debts of the former Anglo Irish Bank, Prime Minister Enda Kenny said on Thursday.</p> <p>"Today's outcome is a historic step on the road to economic recovery," Kenny told the Irish parliament.</p> <p>Kenny said the agreement would ensure repayments were reduced and spread over a longer period, reducing pressure on Ireland, whose economy is struggling to recover despite an EU-IMF bailout in 2010.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130207/anglo-irish-bank-deal-gets-ecb-green-light-0" target="_blank">read more</a></p> Economic history of Ireland Europe Ireland Politics AFP Thu, 07 Feb 2013 19:31:03 +0000 Agence France-Presse 5749299 at http://www.globalpost.com Irish debt deal offers little to forgotten generation http://www.globalpost.com/dispatch/news/thomson-reuters/130214/irish-debt-deal-offers-little-forgotten-generation <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Bank debt deal puts Ireland on course to exit bailout</p> <p>* Agreement means little to young families deep in debt</p> <p>* Progress on long-term unemployment, problem mortgage slow</p> <p>By Padraic Halpin and Stephen Mangan</p> <p>BORRIS-IN-OSSORY, Ireland, Feb 14 (Reuters) - A hard-won bank debt deal has been hailed by the Irish government as an historic step towards recovery, but from the unemployment-scourged ghost estates of the midlands, the feted rebound feels more like a mirage.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130214/irish-debt-deal-offers-little-forgotten-generation" target="_blank">read more</a></p> Business Economic history Economic history of Ireland Economics Labor Technology War Thomson Reuters Thu, 14 Feb 2013 09:00:25 +0000 Thomson Reuters 5755271 at http://www.globalpost.com Irish police begin low-key protests over pay talks http://www.globalpost.com/dispatch/news/thomson-reuters/130222/irish-police-begin-low-key-protests-over-pay-talks <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>DUBLIN, Feb 22 (Reuters) - Irish police began low-key, "work-to-rule" protests on Friday to oppose pay cuts being negotiated as part of a public sector agreement which the government wants to modify for budgetary savings.</p> <p>The government started a new round of talks with unions last month to shrink a bloated pay bill by overhauling the so-called Croke Park agreement that has helped Dublin avoid the mass strikes seen in other struggling euro zone countries.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130222/irish-police-begin-low-key-protests-over-pay-talks" target="_blank">read more</a></p> Business Croke Park Croke Park Agreement Economic history of Ireland Politics Thomson Reuters Fri, 22 Feb 2013 19:31:22 +0000 Thomson Reuters 5763702 at http://www.globalpost.com UPDATE 2-Ireland agrees to extend key public-sector pay deal http://www.globalpost.com/dispatch/news/thomson-reuters/130225/update-1-ireland-reaches-agreement-key-public-sector-pay-deal <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Agreement still needs approval of union members</p> <p>* Smaller unions walked out of talks, dispute risks remain</p> <p>* Higher paid workers take pay cut, others work longer hours</p> <p>By Stephen Mangan</p> <p>DUBLIN, Feb 25 (Reuters) - The Irish government agreed with the largest public-sector trade unions on Monday to extend a pay deal that has been credited with avoiding the kind of industrial unrest seen in other crisis-hit euro zone countries.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130225/update-1-ireland-reaches-agreement-key-public-sector-pay-deal" target="_blank">read more</a></p> Business Economic history of Ireland Ireland Labour relations Thomson Reuters Mon, 25 Feb 2013 12:45:20 +0000 Thomson Reuters 5765925 at http://www.globalpost.com Senior Irish civil servants urged to reject new pay deal http://www.globalpost.com/dispatch/news/thomson-reuters/130226/senior-irish-civil-servants-urged-reject-new-pay-deal <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* First trade union comes out against new agreement</p> <p>* Finance minister warns alternative far harsher</p> <p>By Padraic Halpin</p> <p>DUBLIN, Feb 26 (Reuters) - Senior Irish civil servants and managers were urged by their trade union on Tuesday to reject a public sector pay deal in a warning shot to the government that it faces a challenge in implementing the new agreement.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130226/senior-irish-civil-servants-urged-reject-new-pay-deal" target="_blank">read more</a></p> Business Economic history of Ireland Fiscal policy Public-sector trade union Thomson Reuters Tue, 26 Feb 2013 20:30:59 +0000 Thomson Reuters 5767696 at http://www.globalpost.com Bank of Ireland slumps into 1.8-bln-euro annual loss http://www.globalpost.com/dispatch/news/afp/130304/bank-ireland-slumps-18-bln-euro-annual-loss <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>State-rescued Bank of Ireland said on Monday that it plunged into the red in 2012 after it was hit by a soaring level of bad debts.</p> <p>The positive impact of a 2011 debt write-off was not repeated, therefore.</p> <p>BoI said in a statement that losses after tax hit 1.83 billion euros ($2.38 billion) last year. That contrasted with a net profit of 40 million euros in 2011, when it was boosted by a one-off shares-for-debt deal with its lenders.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130304/bank-ireland-slumps-18-bln-euro-annual-loss" target="_blank">read more</a></p> Bank of Ireland Business Economic history of Ireland EUR Financial services in the Republic of Ireland Labor Law Republic of Ireland AFP Mon, 04 Mar 2013 16:53:26 +0000 Agence France-Presse 5772940 at http://www.globalpost.com Irish economy grows by 0.9% in 2012 http://www.globalpost.com/dispatch/news/afp/130321/irish-economy-grows-09-2012 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Ireland's bailed-out economy grew by 0.9 percent in 2012 but stagnated in the final quarter of last year, official data showed on Thursday.</p> <p>"Preliminary estimates indicate that GDP (gross domestic product) in volume terms increased by 0.9 percent for the year 2012," said a statement from the Central Statistics Office (CSO). </p> <p>"This is the second year in succession in which GDP showed an increase over the previous year following three years of declines... during 2008 to 2010."</p> <p>The annual figure was in-line with the eurozone country's own government forecast.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130321/irish-economy-grows-09-2012" target="_blank">read more</a></p> Celtic Tiger Economic history of Ireland Economy of the Republic of Ireland AFP Thu, 21 Mar 2013 13:01:12 +0000 Agence France-Presse 5789881 at http://www.globalpost.com Irish economy grows by 0.9% in 2012: official data http://www.globalpost.com/dispatch/news/afp/130321/irish-economy-grows-09-2012-official-data <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Ireland's bailed-out economy grew by 0.9 percent in 2012 but stagnated in the final quarter of the year, official data for the troubled eurozone nation showed on Thursday.</p> <p>"Preliminary estimates indicate that GDP (gross domestic product) in volume terms increased by 0.9 percent for the year 2012," said a statement from the Central Statistics Office (CSO). </p> <p>"This is the second year in succession in which GDP showed an increase over the previous year following three years of declines... during 2008 to 2010."</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130321/irish-economy-grows-09-2012-official-data" target="_blank">read more</a></p> Business Celtic Tiger Economic history of Ireland Economy of the Republic of Ireland AFP Thu, 21 Mar 2013 16:16:46 +0000 Agence France-Presse 5790095 at http://www.globalpost.com Ireland's largest union rejects pay deal, warns of confrontation http://www.globalpost.com/dispatch/news/thomson-reuters/130416/irelands-largest-union-rejects-pay-deal-warns-confrontation <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>DUBLIN (Reuters) - Ireland's largest trade union rejected a new public sector pay deal on Tuesday and warned the government that it would face a "major confrontation" if it went through with a threat to cut their pay unilaterally.</p> <p>The government and the country's main unions agreed in February to extend a three-year-old pay deal that has been credited with avoiding the kind of industrial unrest seen in other euro zone countries hit by debt woes.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130416/irelands-largest-union-rejects-pay-deal-warns-confrontation" target="_blank">read more</a></p> Business Croke Park Croke Park Agreement Economic history of Ireland Thomson Reuters Tue, 16 Apr 2013 15:45:03 +0000 Thomson Reuters 5817483 at http://www.globalpost.com Greek Alpha Bank approves 4.5-bn euro recapitalisation http://www.globalpost.com/dispatch/news/afp/130416/greek-alpha-bank-approves-45-bn-euro-recapitalisation <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Alpha Bank, one of the four biggest Greek lenders, on Tuesday approved a recapitalisation drive of more than 4.5 billion euros ($5.9 billion), including 550 million euros in private capital to keep the bank from falling under state control.</p> <p>The decision to raise 4.571 billion euros -- much of it already available from specially earmarked EU funds -- was taken by the bank's general meeting of shareholders, a bank source said.</p> <p>Alpha Bank chairman Yiannis Costopoulos had earlier told the assembly that the recapitalisation would be carried out in May, state agency ANA reported.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130416/greek-alpha-bank-approves-45-bn-euro-recapitalisation" target="_blank">read more</a></p> Alpha Bank Business Economic history of Ireland Financial crises AFP Tue, 16 Apr 2013 15:46:10 +0000 Agence France-Presse 5817488 at http://www.globalpost.com Irish unions reject pay deal, warn of trouble ahead http://www.globalpost.com/dispatch/news/thomson-reuters/130416/irelands-largest-union-rejects-pay-deal-warns-confrontation-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Padraic Halpin</p> <p>DUBLIN (Reuters) - A majority of Irish public sector workers rejected a new pay deal on Tuesday and warned the government against unilaterally cutting wages, giving it a headache as it seeks to exit an EU-IMF bailout later this year.</p> <p>The government and the country's main unions agreed in February to extend a three-year-old pay deal that has been credited with avoiding the kind of industrial unrest seen in other euro zone countries hit by debt woes.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130416/irelands-largest-union-rejects-pay-deal-warns-confrontation-0" target="_blank">read more</a></p> Business Croke Park Croke Park Agreement Economic history of Ireland Members of the 27th Dáil Members of the 28th Dáil Members of the 29th Dáil Thomson Reuters Tue, 16 Apr 2013 20:15:12 +0000 Thomson Reuters 5817747 at http://www.globalpost.com Insight: Ireland's bailout report: Good, now fix public debt http://www.globalpost.com/dispatch/news/thomson-reuters/131022/insight-irelands-bailout-report-good-now-fix-public-debt <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Sam Cage and Padraic Halpin</p> <p>DUBLIN (Reuters) - At the height of the euro zone's debt crisis in July 2011, Ireland's bailout looked doomed. Its credit rating had been cut to junk and borrowing costs hiked to an eye-watering 15 percent.</p> <p>Nonetheless, Bank of Ireland convinced a group of North American investors to part with 1.1 billion euros and help stave off a state takeover. It was an early sign that Ireland could do what was needed to turn itself around.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/131022/insight-irelands-bailout-report-good-now-fix-public-debt" target="_blank">read more</a></p> Business Economic history Economic history of Ireland Economics Thomson Reuters Tue, 22 Oct 2013 07:21:21 +0000 Thomson Reuters 5967200 at http://www.globalpost.com Ireland on verge of bailout exit http://www.globalpost.com/dispatch/news/afp/131107/ireland-verge-bailout-exit <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Ireland took a major step towards becoming the first eurozone country to exit a huge financial bailout programme on Thursday after the EU and IMF completed their final review.</p> <p>"This is a significant day, that many thought, and some feared, would never be reached," Finance Minister Michael Noonan and Expenditure Minister Brendan Howlin said in a joint statement.</p> <p>Ireland was rescued with the help of 85-billion-euros ($115-billion) from the International Monetary Fund and European Union in late 2010.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/131107/ireland-verge-bailout-exit" target="_blank">read more</a></p> Economic history Economic history of Ireland Economics AFP Thu, 07 Nov 2013 14:47:20 +0000 Agence France-Presse 5982810 at http://www.globalpost.com Euro zone's Ireland gets green light for bailout exit http://www.globalpost.com/dispatch/news/thomson-reuters/131107/ireland-says-successfully-completes-final-bailout-review <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Sam Cage and Padraic Halpin</p> <p>DUBLIN (Reuters) - Three years after going cap in hand to international lenders, Ireland got the green light on Thursday to step out on its own as the first euro zone country to exit its bailout program.</p> <p>The European Commission, European Central Bank and International Monetary Fund signed off on the last part of the 85 billion euro ($114 billion) aid program, paving the way for Ireland - which has met all major targets - to complete it by the end of the year.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/131107/ireland-says-successfully-completes-final-bailout-review" target="_blank">read more</a></p> Business Economic history of Ireland Fiscal policy Members of the 27th Dáil Thomson Reuters Thu, 07 Nov 2013 12:54:31 +0000 Thomson Reuters 5982685 at http://www.globalpost.com Ireland refuses credit safety net on exiting bailout http://www.globalpost.com/dispatch/news/afp/131114/ireland-refuses-credit-safety-net-exiting-bailout <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Eurozone member Ireland will exit its international bailout programme next month without the need for a precautionary credit facility, the government said on Thursday.</p> <p>The Department of Finance said in a statement that it would not need a backstop owing to large state cash reserves and public finances which are under control amid a climate of historically-low Irish government bond yields.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/131114/ireland-refuses-credit-safety-net-exiting-bailout" target="_blank">read more</a></p> Economic history Economic history of Ireland Economics Technology AFP Thu, 14 Nov 2013 14:34:54 +0000 Agence France-Presse 5989230 at http://www.globalpost.com