A brief gilmpse of the Minister’s SPU
Yesterday in the Joint Committee on Public Expenditure and Reform we discussed the Stability Programme Update (SPU to you and me) with Minister Noonan. This is an important document that heads of state submit to the European Commission, outlining: the overall macroeconomic situation progress towards the five EU-level targets progress under the flagship initiatives In...
Donnelly and McWilliams talk Economics with Wicklow Students
Last week, myself and Economist David McWilliams visited Collaiste Chill Mhantain, Wicklow Town, to participate in a debate with students on whether Ireland should leave the Euro. The level of debate amongst Collaiste Chill Mhantain’s economic students was hugely impressive. The students are a credit to their parents and teachers. Monetary policy, the banking crisis,...
Cad a dhéanfaimid feasta gan Coillte
As part of the deal with the Troika, Ireland committed to selling €3bn worth of state assets. One of those assets earmarked for sale is 80 years of the harvesting rights for Coillte’s crops. Minister Coveney claimed that this will raise between €400 million and €600 million. The sale will apply to timber on 50%...
Failure to Seek a Reduction on €28bn Promissory Note is Inexcusable
Last week, the Government added insult to injury. On Tuesday, it put a motion before the Dail asking us to ‘welcome’ the restructuring of the promissory notes. With Government backbenchers supporting the motion, it is guaranteed to pass. When it does, our humiliation will be complete. The Government’s motion does not ask us to authorise...
A Call Not to Welcome the Promissory Notes
In the wake of the Government’s success in negotiating the EU budget, I was curious why they did not persue Ireland’s own interests with such determination. Yesterday, I called upon the Dáil not to welcome the restructuring of the promissory notes. Placing the debt of banks on the shoulders of the Irish people is wrong....
Ask and ye shall receive…
Last night I gave a speech on the Government’s proposal to turn the Promissory notes into long term Bonds. It was a difficult speech to give. Firstly, I am still incredulous that the government wants to pay every cent given to failed banks and didn’t even request a write-down in debt from the ECB. Secondly,...
