Tag Archives: Irish Examiner

Irish Examiner – Bank Of England To Check If Allowances Comply With EU Cap – 12 March 2014

Irish Examiner

The Bank of England is scrutinising allowances awarded to top staff by banks in an effort to establish whether they are a covert way of avoiding a new EU cap on bonuses, a senior official at Britain’s central bank said yesterday.

By Huw Jones, Reuters

Quote: From next year, EU bankers’ bonuses can be no higher than fixed salary, or twice that amount if a bank’s shareholders give their approval.

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Irish Examiner – ECB To Examine Euro Bank Capital Shortfalls In €3.72Tn Asset Review – 12 March 2014

Irish Examiner

The European Central Bank says it will look for capital shortfalls in euro-area banks by examining more than €3.72tn in assets in on-site checks.

By Jeff Black, Bloomberg

Quote: Releasing a 285-page manual for staff undertaking the asset quality review, the Frankfurt-based ECB said any adjustments to lenders’ capital ratios identified as necessary by the unprecedented balance-sheet probe will be determined during July.

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Irish Examiner – Credit Unions Head For Courts In Debt Quest – 27 December 2013

Irish Examiner

The Irish credit union movement has pursued members through the courts for debts of nearly €35m over the last three years.

By Vincent Ryan

Since 2011, almost 2,000 members have had judgments registered against them for failing to repay monies borrowed.

In 2011, credit unions registered €12.7m worth of judgments against defaulters, in 2012 it rose to €13m, and by Nov 2013, €9m worth of judgments had been registered, according to figures from Vision-net.

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Irish Examiner – Europe Banking Union Set Be Complex And Political – 23 December 2013

Irish Examiner

Europe’s efforts to form a united front behind eurozone banks are reaching a climax, but many fear they will fail to restore confidence and prove flimsy should another crisis strike.

By John O’Donnell

After more than a year of talks, ministers from across the EU agreed early on Thursday, a scheme to close failing banks, but the process will be complex and politicised. An agency and fund to wind down bad banks, working in tandem with the ECB as the new watchdog, is an important step towards banking union, but the loose ends could lead to the complete unravelling of the project.

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Claim City Council Will Lose €2bn In Assets To Irish Water – 18 December 2013

Irish Examiner

A war of words has broken out between the Department of Environment and a local authority over fears councils will be left facing massive debt as a result of the transfer of assets to Irish Water in January.

By Fiachra Ó Cionnaith

On Monday night, city manager Owen Keegan broke the news that Dublin City Council is set to lose €2bn in assets due to the move.

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EU Bans Three Pesticides Linked To Bee Death – 2 December 2013

Irish Examiner

Irish beekeepers have welcomed an EU ban on three pesticides which are being blamed for the deaths of millions of bees worldwide.

By Claire O’Sullivan

Aside from honey production, honey bees are a vital part of global food production as they pollinate about one third of the world’s food — increasing its yield as much as threefold.

It is estimated that insect pollination, over two thirds of which is done by honey bees, is worth €153bn per annum globally.

However, the Irish Beekeepers’ Association’s spokesman, Phillip McCabe, who is also president of the worldwide bees association, Apimondia, said the Government here is not supporting the beekeepers.

“We had been working for a number of years trying to get the governments of the world, and in particular the EU, to ban these chemicals.

www.irishexaminer.com / link to original article

Irish Examiner – Firm With €613m Losses Pays Directors €800k – 22 November 2013

Irish Examiner

A property firm controlled by developer Liam Carroll sitting on accumulated losses of €613.6m, last year paid its directors almost €800,000.

By Gordon Deegan

Newly filed accounts for Zelderbridge Ltd show that €797,502 was paid to the firm’s directors last year. The directors are listed as Mr Carroll, accountant John Pope and David Torpey; with Mr Carroll’s wife, Roisin, and Noel Murray listed as alternate directors.

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Irish Examiner – Future Bleak For Those On Eurozone Periphery – 17 November 2013

Irish Examiner

The eurozone is at an inflection point. The crisis may have abated compared with the daily whirlwind that convulsed both markets and governments up to the middle of last year.

COMMENT: John Walsh

A calmness of sorts was restored in July 2012 when ECB chief Mario Draghi pledged to do “whatever it takes to save the euro”.

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Irish Examiner – Bank Chief Quits As Results Released – 15 November 2013

Irish Examiner

KBC chief executive John Reynolds resigned on the same day as the bank announced it is significantly increasing bad loan provisions for the year.

By John Walsh

In a sign the Belgian-owned bank has accelerated its attempts to work through its troubled loans, it has significantly increased the amount of bad debt provisions it will incur this year.

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Irish Examiner – More Credit Unions Face Restructure Or Merger – 13 November 2013

Irish Examiner

More credit unions will be restructured or merged over the coming years with at least another 20 so far having failed basic minimum standards.

By Juno McEnroe and Caroline O’Doherty

The Government yesterday pledged to support the troubled sector following the emergency takeover of Newbridge Credit Union by a bank earlier this week.

It came as Finance Minister Michael Noonan briefed his Cabinet colleagues on the future of credit unions as the Central Bank examines the health of 100 unions.

www.irishexaminer.com / link to original article