Daft Property - Irish Property News

Celtic Tiger developers trying to scam Nama – Taoiseach Taoiseach Enda Kenny has declared concerns that developers could be buying back assets seized by Nama at knockdown prices. Mr Kenny said he had some indications that boom-time speculators who could not repay massive loans - now tied to the taxpayer - were attempting to repurchase their properties at their current prices. Just over a week ago, the state toxic assets agency dismissed allegations repeated by a Fianna Fail senator about the practice. Mark Daly had claimed the taxpayer was picking up the bill, running into hundreds of thousands of euro, for the plunging loan values while those who borrowed the money regained their properties at a fraction of the original price. Speaking at the British Irish Parliamentary Assembly in Cork, Mr Kenny signalled his intention to meet finance minister Michael Noonan about the issue. "I have had some indications of attempts to acquire property that was taken from developers thr...

'Suicide' if we give in to EU on taxes... 'No surrender' insists Enda Kenny. 'Stand up to Merkel' says McDowell. An overwhelming majority of Irish people have endorsed Taoiseach Enda Kenny's refusal to budge on Ireland's corporation tax rate during intense clashes with German and French leaders Angela Merkel and Nicolas Sarkozy. Any climbdown by the Taoiseach on the issue would represent a case of "economic and political suicide", Michael McDowell, the former Progressive Democrat leader, said yesterday. According to the latest Sunday Independent/Quantum Research Poll, 78 per cent of people think Mr Kenny was absolutely correct to refuse to offer "a gesture" to Mr Sarkozy in terms of our corporation tax rate in return for more favourable rates on the €85bn IMF/EU bailout. People polled on Friday night saw the Irish corporation tax rate as the 'bedrock' of our multinational employment base and export figures. Further...

The ECB has no love for Ireland and is seeking to punish us. That's why we should tell it where to go... When the new government settles into their new offices in the next few weeks, many many problems await them. None more so than Ireland's by now fractious relationship with Europe and in particular the European Central Bank (ECB). In truth, Ireland's relationship with the ECB has become so dysfunctional that it now verges on abusive, and Ireland is the one being beaten, and beaten hard. Jean Claude Trichet on his €344,000 plus a year salary and his cronies have no love for Ireland at the minute and despite all the talk of it lending us €150bn to keep our banks afloat, any sensible person would know that is out of its own self interest and not out of any great affection for our small little island. The ECB's role in Ireland's financial crisis was by anybody's standard dubious at best, and criminal at worst. During the boom years of 2004 to 2008, the E...

Nama will bankrupt us for generations... The Government isn't just passing bad laws, it's putting us all in an economic strait-jacket.. . First, it's necessary to use this space to defend the banks. Over the past week, much of the criticism thrown at senior bankers was unmerited, and it would be unfair not to acknowledge that. It's a dirty job, defending those greedy bastards, but someone's got to do it. I can promise that normal service will be resumed shortly (within a few paragraphs, to be honest -- at which point we'll try to understand why we're now up to our chins in the rising tide of faeces that is Nama). The bankers got a bad rap because one bank, Permanent TSB ("The Bank That Likes to Say Feck Off"), increased interest rates. Other banks acknowledged they have similar intentions. Screams of horror issued from the media and politicians. Oh, dear -- it seems the banks are refusing to operate as social utilities. As though they believe that ...

THE Irish banking system would have “totally collapsed” without the Government’s €400 billion crisis guarantee plan, the Tánaiste warned yesterday . Mary Coughlan made the claim as opposition parties attacked the rescue bid’s “vagueness”. The enterprise, trade and employment minister insisted failure to act would have tipped Ireland into economic meltdown. “We would have found ourselves in a different set of circumstances if we had not brought in this legislation. We would have undermined the system of banking and it would have totally collapsed,” she told the Dáil . Ms Coughlan was responding to demands from Labour leader Eamon Gilmore to explain exactly how much taxpayers were expected to put at risk to cover the rescue plan, and what banks would be charged if they take up the Government’s offer to cover their liabilities. “This country is being asked to go guarantor for the banks and in effect we are being asked to put up the deeds of the country as security in doing so. “How muc...

Following yesterdays reports about tax returns for the start of 2008, being €500m less than expected, plus rising unemployment etc., the Taoiseach has been accused of presiding over, "the worst deterioration in the economy in the history of the State", by Enda Kenny However the Taoiseach, Bertie Ahern, insists the outlook for the Irish economy is postive, and said that the country is doing very well by international standards and that it was still on target(...for what????!) "He knows nothing and he thinks he knows everything. That points clearly to a political career." George Bernard Shaw