Euro slides after ECB shocks markets with interest rate cu
In early trade, the FTSEurofirst 300 index of top European shares was down 0.1pc at 1,399.68 points, retreating from a 6-1/2 year high hit in the previous session.
The euro nursed hefty losses, having suffered its biggest one-day fall in nearly three years against the greenback after the European Central Bank delivered a fresh round of stimulus and promised even more if needed.
The common currency slumped over 1 percent …
ECB resists Irish plan to repay IMF bailout loans early
reland’s plan to repay its IMF loans early is facing resistance from the European Central Bank amid continuing concerns that last year’s promissory note deal was bordering on monetary financing.
In a setback to the Government’s bid to secure political agreement for the early repayment of the IMF portion of the bailout, ECB chief Mario Draghi indicated yesterday that concerns remained about the promissory note deal.
Asked about his views …
Tax Institute calls for new measures to attract investment
The Irish Tax Institute has urged the Government to do more in next month’s Budget to attract senior decicion makers and investment to Ireland.
Speaking at the organisation’s annual general meeting in Dublin on Thursday, the organisation’s new president Andrew Gallagher called on the coalition to take measures to ensure that Ireland continues to be an attractive location for foreign investment.
“Ireland needs to be not only a good location …
ECB's €40bn stimulus gamble to boost European economy
The move will directly benefit Ireland, which has begun to show signs of recovery but is being hampered by insipid economic growth across the other 17 countries that use the euro.
The hope is that money pumped into the eurozone economy will trickle down into under-pressure households here.
ECB boss Mario Draghi is expected to outline plans to inject as much as €40bn into the flagging economy.
According to US …
Ireland must learn from Scandinavian recovery – Noonan
The minister said the country’s recovery was not “an act of God” but the result of government decisions which he claimed eurozone giants France and Italy didn’t take, and are now paying for.
And he gave one of the strongest signals yet that the Government may not need to pursue a deal from Europe to help ease the burden imposed by the state’s banking debt.
Mr Noonan said the fruits …