The new release from the CSO shows some quite striking movements during 2008: you can read it here.
See also the survey of foreign portfolio assets here, even if these data are dominated by the positions of IFSC enterprises.
Not too long ago, the Green Party announced with great fanfare that they were getting the NAMA plan amended to feature “equal risk sharing” between the government and the banks (though not between the government and bank shareholders as proposed by Patrick Honohan). Even as it was announced, there were strong rumours that this risk sharing element would represent a tiny change to the original plan. This has now been confirmed.
In today’s Irish Times, Sean is underwhelmed by the transport bill.
In my understanding, the new National Transport Authority merges a number of state bodies and has at least the potential to cut costs and create synergies. I probably disagree with Sean on that point.
I agree with most of the rest. I would have argued, though, that privatising the state-owned transport companies and cutting their subsidies would be welcome news for the budget. Dismantling the transport monopolies would bring welcome cuts in costs for households and businesses.
Both the Irish bank liability guarantee (instituted in September 2008 and likely to be renewed) and the asset purchase scheme (likely in place soon via NAMA) have been controversial, and their strengths and weaknesses have been widely debated. Less attention has been paid to the powerful interactions between these two schemes. If both schemes go ahead, perhaps these powerful interactions could serve to improve overall cost-efficiency and policy effectiveness.