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Saturday 1 April 2023 Dublin: 8°C

# Debt

All time
Paschal Donohoe: 'The ESM retrospective use is acknowledged in writing by EU ministers'
The Minister for European Affairs said the government would be holding them to their commitment if necessary.
Latest CSO stats show improvement in Government deficit
The General Government Deficit for the second quarter was 6 per cent of GDP.
# Budget 2014
Cigarettes and lots of debt: 7 things in Budget 2014 that you may have missed
We’ve read the Budget documents so you don’t have to…
# Debt Ceiling
Markets wobble as US debt talks falter
Fitch has placed the US credit rating on a Negative Watch, as the stock market fell today.
# fiat currency
How 9 countries saw inflation evolve into hyperinflation
These crises mostly occurred after World War II, and in Latin American during the 1980s. Here’s why.
# insolvency
These four counties have no personal insolvency practitioners
Dublin has the highest number of PIPs, followed by Cork and Galway.
Column: Legal protection of “accountant” is an essential matter of public protection
You don’t have to look too far to see the consequences of bad financial advice in Ireland – and yet anyone can set themselves up as an accountant, without education, qualifications or experience, writes Joe Aherne.
Extract: This crisis shows the old ways have failed – and we’re on the cusp of new discoveries
I am an economics student, so you might be surprised to hear that I’m somewhat optimistic about our future. Why? Because we are passing through a unique window of opportunity to change our world, writes Robert Nielsen.
# loan
Cyprus gets €1.5bn from EU's emergency fund
The crisis-hit nation has now received half of the package it was pencilled to get from the ESM.
# Fiscal Advisory Council
Charts: Here's how the government's liabilities have increased to €208bn in five years
The government’s liabilities last year were a whopping €208 billion.
Nick Leeson: In debt? Don't panic.
The former trader’s new book tries to help people tackles debt and find a path through the stress and complexities of dealing with financial institutions.
# Debt deal
Allsop signs deal that will stop the auctioning of repossessed homes
A formal agreement with the Irish Mortgage Holder’s Organisation ensures properties where no deal has been struck to sort out mortgage arrears will not be offered for auction.
# Recovery
OECD: Irish economy recovering but government must stick to targets
In a report today, the body said that out debt-to-GDP ratio is set to peak this year and decline thereafter.
# insolvency
PIP apologises for comments about ‘bigger houses’ for professionals
Jim Stafford issued a statement saying that he did not intend to ‘create a distinction between so called professional classes and PAYE workers’.
# Your Say
Poll: Will the new insolvency service work?
It is launched today but will the service for struggling borrowers actually work?
# Kennycourt Stud Farm
PICS: 250 locals take back Kildare stud farm from receivers and lock them out
The farm, owned by Eugene McDermott, was to be sold by IBRC following an outstanding loan of €814,000.
Column: There's no shame in bankruptcy – it is now a viable and positive option
This autumn will see a new personal insolvency system coming into effect that will put mortgage holders in arrears in a far stronger bargaining position with the banks, writes Ross Maguire SC.
# Money Money Money
Consumer confidence is up, but disposable income is down, says report
Credit card debt is in decline, property transactions on the increase but new car sales continue to struggle.
# Debt
Household debt down but sustainability levels barely improve
Figures from the Central bank show that overall household debt is at it lowest level since late 2006 but disposable income falls dull much positive impact.
Column: How to navigate your personal insolvency
The Personal Insolvency Service is due to come into effect in the coming weeks, so what do you need to know about making an application? Stephen Curtis lets you know.
# Debt
Frank Feighan: My personal finances won't affect my political career
The Roscommon deputy is being pursued by Danske Bank for borrowings understood to be in the high six-figure range.
# Finance
39 per cent jump in Government-issued debt in the last year
The liquidation of IBRC led to a rise in the twelve months between June 2012 and June 2013.
Column: How did we surrender our liberty and become voluntary slaves?
We sold our freedom long ago when we accepted mountainous debt in search of power and status, writes Steve Bonham. The lesson? Avoid committing to things that make us dependent upon the whims of others.
# Feelin' Blue
Coventry City could be docked 15 points before the new season starts tomorrow
The Sky Blues are on the verge of liquidation after a creditors’ deal was rejected this morning.
Column: The family home needs to be protected in a debt crisis
The banks are not looking at the long-term resolutions strategies for homeowners in debt; the only available strategies are limited to those that that suit bank recovery, writes Julie Sadlier.
# Portugal
Crisis talks on Portugal bailout breakdown
The country’s three main parties failed to reach a deal to end the political crisis that threatens to derail the government’s bid to overhaul its finances.
# Debt
1,600 people waiting to see MABS advisors
The average waiting time for a MABS appointment is 4.4 weeks but this figure varies wildly across the country.
# legal advice
Rise in 'accidental landlords' as homeowners rent out properties to cover mortgage costs
FLAC noted a “striking” rise in queries about housing such matters, which were up almost 70 per cent since 2011.
# Anglo Tapes
Anglo tapes: Central Bank 'were effectively egging us on'
The latest conversations will raise questions about how much Anglo executives knew about the sinking bank.
# Debt
Musician Jim Corr settles €1.4m debt with ACC Bank
The only male member of Irish family band The Corrs was due to be cross-examined by ACC Bank at the Commercial Court today.
# need to know
The Evening Fix... now with added rocket explosions
Here are the things we learned, loved and shared today.
# Mortgage crisis
95,000 Irish homes are in mortgage arrears over 90 days
Homeowners who are three months or more behind on their payments owe financial institutions €1.8 billion.
# Debt deal
Noonan: Ireland will escape bailout, even if we can't recover bank costs
The finance minister says the world recognises that Ireland’s debts are sustainable, but he won’t give up on help.
# Bailouts
EU faces talks on bank sector reform and who should pay for future bailouts
Finance ministers are also expected to formally approve a 7-year extension on Ireland’s and Portugal’s bailout loans.
# Greece
Greek court overturns closure of state broadcaster‎
The top administrative court in Greece has “temporarily” cancelled the government’s shock decision to close state broadcaster ERT.
# Iceland
Icelandic PM vows to ignore IMF's advice
Sigmundur David Gunnlaugsson says he will ignore the IMF’s criticism of his government’s plans to reduce household debt following the country’s economic collapse.
# Saving
Under 50s stop saving as they struggle to pay off mortgages
It is thought that the deadline for property tax registration may have triggered this.
# Debt
Fall in personal loans and holiday home mortgages as households pay off debt
Figures from the Central Bank also show a very slight increase in savings.
# Bankruptcy
Over 130 people with Irish addresses filed for bankruptcy in UK during crisis
Figures also show that 35 people moved to England or Wales last year solely for the purpose of seeking bankruptcy.
Column: Game, Set and Match to the Banks
The extent to which banks are running Ireland and Europe is clearly shown by the recently published Insolvency Guidelines and Rules, writes Dave Hughes.