The FT has a very forthright editorial here.
Month: November 2010
I understand the (party) political reasons which are prompting the government to seek a bailout that will be labelled a bailout for our banks, rather than for the State.
But I have a question. Which do people think the man on the Irish equivalent of the Clapham omnibus (the 46A?) is more likely to accept: An IMF-approved austerity programme whose stated aim is to help the State pay back the largely foreign creditors of Irish banks? Or an IMF-approved austerity programme whose stated aim is to make sure that the State is in a position to keep our schools, health care system and social welfare programmes running?
The latest quarterly report on mortgage arrears from the Central Bank is available here. The report shows a continuation of the steady increase in the fraction of mortgages that are more than 90 days in arrears. This fraction rose from 4.6% in June to 5.1% in September, in line with the previous increases over the past year.
The next seminar hosted by the Centre for Financial Markets (CFM) will take place tomorrow Thursday November 18 between 2-3pm at the Smurfit School of Business, Carysfort Avenue, UCD. The venue for the paper is Room N304.
The paper is to be given by Cormac O’ Grada (UCD)
Ireland’s Last Big Bank Failure: Any Lessons for Today?
This paper is being presented in association with the Science Foundation Ireland (SFI) Strategic Research Cluster (SRC) in the area of Financial Mathematics and Computation.
the report is here.