As St Augustine might have said; give me thrift O Lord; but not just yet. The reduction of debt is greatly to be desired but the means of achieving it are rarely welcome.

This applies both to scaling back existing debt and the prevention of excessive borrowing in the future. Debt relief involves, one way or another, the transfer of funds from savers to borrowers. The trick is not to …

Financial and commodities markets slumped on Wednesday after the World Bank cut its growth forecasts for 2015 and 2016, fuelling fears that the benefits of cheaper oil may be offset by anaemic economies and the threat of deflation.

Share prices, commodities and lower-rated bonds fell as investors sought safety in core government bonds and currencies like the Japanese yen. The dollar dropped 1 percent against the yen.

Market jitters were …

The World Bank has lowered its global growth forecast for 2015 and next year due to disappointing economic prospects in the euro zone, Japan and some major emerging economies that offset the benefit of lower oil prices.

The global development lender predicted the global economy would grow 3 percent this year, below a forecast of 3.4 per cent made in June, according to its twice-yearly Global Economic Prospects report.

World …

The number of people earning more than €200,000 in gross income is set to be almost a third higher this year, compared to four years ago.

That’s according to figures compiled by the Revenue Commissioners and released by Finance Minister Michael Noonan last month, which show that nearly 25,000 individuals and jointly assessed couples are set to earn more than €200,000 in 2015.

It’s an increase of around a third …

The European Court of Justice (ECJ) has ruled that the European Central Bank’s bond-buying programme is legal, once certain conditions are met.

The conditions identified by the court’s advocate general include an assurance that the ECB does not provide “direct” financial assistance when it buys the debt issued by a euro zone member state.

The ruling states that “direct involvement in the financial assistance programme that applies to the State …

Ireland is set to be the fastest-growing economy in the Eurozone for the second year in a row in 2015 as the recovery becomes sustainable, according to Goodbody Stockbrokers.

The Dublin-based firm is forecasting growth of 4pc this year, highlighting that domestic demand is now the main driver of the recovery.

It comes as separate data shows that activity in the construction sector continued to rise last month, but at …

The National Treasury Management Agency (NTMA) will look to have around €10bn in cash set aside by the end of this year, to meet bills falling due in early 2016.

The NTMA had a cash balance of €11bn coming into the new year, which will be used to meet outflows of around €6.6bn due in the first part of the year – including a €4.4bn shortfall in Exchequer funding and …

MORE international investors will buy property in Ireland in 2015 as the recovery moves out beyond Dublin and into the rest of the country, say CBRE.

In its preview of 2015, the broker said rents and commercial property values will continue to rise in 2015, as the shortage of suitable office in particular remains acute.

In line with other market watchers, the company believe renting a top level office block …

The Christmas/New Year lull is finally abating and we’re getting back to a busier calendar for the week ahead.

After their festive break, our TDs and Senators return to Leinster House and one of the highlights of the week from a finance point of view will be the appearance on Thursday of Central Bank governor Patrick Honohan before the banking inquiry. It held just a few hearings before the break, …