Irish home loan rules 'strictest in Europe' – agents
NEW rules on home loans being planned by the Central Bank will be among the strictest in Europe, estate agents have said.
Delegates attending the European Confederation of Real Estate Agents Conference in Dublin expressed surprise that Ireland was introducing a 20pc deposit requirement when, out of 14 countries represented, a deposit was required in only one. Aside from Ireland, only Norway requires home buyers to come up with a …
Euro zone economic sentiment rises slightly in November
Morale in the euro zone rose for the second month in a row in November as a pick-up in industry sentiment just outweighed increased pessimism among consumers.
The data offered a tentative sign that the bloc is avoiding outright stagnation.
The European Commission said that economic sentiment in the 18 countries sharing the euro rose to 100.8 this month from 100.7 in October and 99.9 in September. Economists polled by …
Central Bank head admits new mortgage deposit rules face delays
Househunters will not need a 20pc deposit when seeking a mortgage from January 1 because the Central Bank won’t meet its own deadline to enforce the new rule.
Plans to cap homeloans are to be pushed back but Central Bank Governor Patrick Honohan insisted “we’re not hanging around”.
He said that the bank is still determined to introduce the restrictions, adding that they “would ensure that a credit-driven property bubble …
Economy produces the best job numbers in 5 years
EMPLOYMENT is at its highest level in five years with almost 28,000 more people in a job at the end of September than in the same period last year.
And the vast bulk of the new positions are full-time, with a bounce-back in battered sectors such as construction and retail now helping to drive the growth.
Some 1.93 million people now have a job – the highest level since the …
Study show Ireland has most effective corporate tax system in Europe
Ireland has the most effective corporate tax system in Europe with the least amount of red tape, according to a study from PwC and the World Bank.
Ireland’s effective rate comes in close to the headline rate – 12.4% – just 0.1% below the Government’s much criticised 12.5% advertised rate.
In France, the headline rate is 33% but the effective rate is closer to 7.5%.
The tax system here also …
Bruton says Irish firms have risen to international challenge
Jobs Minister Richard Bruton has said that Irish entrepreneurs have risen to the challenge, and taken up the message that they need to internationalise.
Minister Bruton was speaking at the Deloitte Enterprise Ireland CEO Forum in Dublin Castle today.
350 chief executives are hearing about education and training, the opportunities in exporting to customers in emerging markets, and trends and innovation in technology at the forum.
Minister Bruton said Irish …
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 the financial crisis, the EU’s new chief executive told the European Parliament in Strasbourg that …
Centralised debt register is still two years away
IT will be at least another two years before a register of all the debts of each consumer and company is in place, it has emerged.
This is despite demands from the EU Commission as far back as 2010 that a new register be set up.
A centralised register is needed to ensure banks and other lenders make informed decisions when handing out loans, and to protect borrowers from excessive …
Fifth Kilkenomics festival attracts bumper line up of speakers
Ellen Brown, a co-founder of the US-based Public Banking Institute, doesn’t mince her words.
She’s among the speakers at the fifth Kilkenomics festival, which began yesterday.
“My purpose in being there and what I hope to introduce is that you can fix a lot of your economic problems by having some publicly owned banks.”
It’s not about nationalising the system, says Brown. Rather the idea is to have a number …
ECB chiefs set to snub our probe into bailout
The letters, which include a threat to cut off funds if Ireland did not apply for a bailout, drew fresh calls for the Frankfurt-based ECB to send representatives to the imminent banking inquiry.
Mr Trichet, who directly dealt with the issue, has already refused to come here to answer questions from TDs and Senators.
And the current president of the ECB Mario Draghi yesterday backed the stance of his predecessor.
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