Euro area commercial property markets and their impact on banks

The February ECB bulletin carries an interesting article on commercial property markets across the euro area; it is striking to compare the boom-bust cycle in Ireland relative to other countries: you can download the bulletin here.

2 replies on “Euro area commercial property markets and their impact on banks”

What the public thinks on banking, NAMA, the government and the establishment. From national opinion poll last month:

“according to a Sunday Independent/ Millward Brown Lansdowne opinion poll…

A massive 58 per cent are “not at all satisfied”, and 21 per cent are “not very satisfied” with the way in which the Government is handling the banking crisis; just 12 per cent have expressed any form of satisfaction.

An overwhelming 91 per cent want criminal prosecutions pursued against those in the banking sector found to have been in breach of the law, precisely the same finding as a year ago when the same question was asked in the last such poll.

The public is obviously dissatisfied that no such action has been taken against bankers in that year, despite the instigation of a number of investigations by various authorities.

A majority 54 per cent do not believe that the setting up of Nama will free up lending from the banks to businesses and the general public; only 23 per cent believe it will; and 23 per cent say they do not know.

Asked what they thought should be done with the banks, a significant minority, 38 per cent, said they should be left to fend for themselves even if that meant some did not survive — a measure which all of the political parties have set themselves against; 27 per cent felt they should be fully nationalised and 26 per cent, or only a quarter of those polled, said they should be given continuous Government financial support, but not nationalised…

“We know from recent research that the Irish people have never been as unhappy about authority, in its many guises. We express a lower level of trust in government in general, politicians and businesses, especially financial institutions, than virtually any other country in Europe.

…The finding that more than a quarter of the electorate felt Mr Lee should set up his own party is another indication of the level of dissatisfaction at the current political system and the desire for change which probably propelled Mr Lee into the Dail as a Fine Gael TD eight months ago.”

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