Daft Property - Irish Property News

They're all away as we face Greek-style crisis Immediate action needed on debt, but Dail won't cut short holidays... THE Government is to leave the political apparatus of the State on holiday throughout September -- even though there is growing concern that the country could face a Greek-style crisis before the end of the year. Widespread bewilderment was aroused in high finance circles last week by the publication of photographs of the Taoiseach, Brian Cowen, playing golf the day after Ireland's sovereign debt was downgraded again. In what is seen as an example of ill-judged timing, Mr Cowen played golf in Connemara on Wednesday with other seemingly carefree TDs and senators, who still have four weeks of a two-month summer break to go. But while the Oireachtas is in repose, enjoying a longer than usual break, the financial markets are in overdrive and are now evidently training their sights on Ireland with the apparent intention of again testing the resolve of the EU later

Green minister fears Greek-style crisis if banks don't get houses in order 'fast'... Ireland could be plunged into a Greek-style crisis unless the banks get their house in order "quickly''. That's the stark warning issued by the Communications, Energy and Natural Resources Minister Eamon Ryan yesterday. "The final bill for everything, that is all the madness in mortgages, the developers and general finance could be as high as €34bn," he warned. "We have done a job in projecting the Government's ability to manage its own finances. Now we have to convince the outside world that the banks have the capacity to manage their own finances," he said. Mr Ryan also noted that within Government, the view was "the sooner we do it the better''. Referring to the improved image of Ireland in the international community, he said of the banking crisis: "We have a limited window of opportunity to resolve this now. If we miss this opp