Tag: Celtic Tiger

Irish economy expands 0.5% in Q3

Irish economy expands 0.5% in Q3

Ireland’s Central Statistics Office (CSO) has today revealed Ireland’s economy experienced growth in the July to September period. The economy expanded by 0.5% in the third quarter compared with the previous quarter - albeit, the figure was slightly below expectations. The former “Celtic Tiger” economy contracted in the second quarter after emerging from recession in [...]

December 16, 2010 | 0 Comments More
IMF: “Ireland’s situation different to Greece”

IMF: “Ireland’s situation different to Greece”

Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), has today said he does not expect the European rescue fund to be activated for Ireland. The rescue fund was established by European Governments and the IMF after the Greek debt crisis earlier this year. In a newspaper interview, Mr Strauss-Kahn said: “We are ready [...]

October 1, 2010 | 0 Comments More
Ireland’s budget deficit soars as banks drain economy

Ireland’s budget deficit soars as banks drain economy

Ireland’s central bank has said that Anglo Irish Bank, Allied Irish Bank and building society Irish Nationwide are all likely to need extra capital in order to stay afloat. The central bank has previously warned that a potential rescue for troubled lender, Anglo Irish Bank, will cost up to €34.3 billion (£29 billion). This has [...]

September 30, 2010 | 0 Comments More
Ireland’s economy contracts 1.2% in Q2

Ireland’s economy contracts 1.2% in Q2

Ireland’s Central Statistics Office (CSO) has today revealed the economy contracted by 1.2% in the April to June period - surprising economists who had forecast an expansion. Furthermore, the CSO revised first quarter growth figures down from 2.7% to 2.2%. Many analysts believed the economy to be on the road to recovery but today’s figures [...]

September 23, 2010 | 0 Comments More
Moody’s downgrades Ireland rating to Aa2

Moody’s downgrades Ireland rating to Aa2

July 19, 2010 | 0 Comments More
Ireland finally emerges from recession

Ireland finally emerges from recession

Ireland has finally exited a prolonged recession after figures revealed the economy grew by 2.7% in the January to March period. It was believed that Ireland had exited recession in the third quarter of last year but an initial estimate of growth was later revised to show a contraction within the economy. As a result, [...]

June 30, 2010 | 0 Comments More
Bank of Ireland sees no end to economic crisis

Bank of Ireland sees no end to economic crisis

The Bank of Ireland has today reported a loss of €3 billion (£2.6 billion) in the first nine months of its financial year, with write-downs totalling €4 billion. In a statement, the bank said: “Revenues remain under pressure, in particular due to higher funding costs as we continue to extend the maturity profile of our [...]

March 31, 2010 | 0 Comments More