Daft Property - Irish Property News

Ireland's decision to guarantee all bank deposits will contribute to the demise of the single European currency, because it will erode the euro's credibility ...Hugh Hendry, chief investment officer and Partner at Eclectica Fund, told CNBC on Thursday... Watch the video: Promises of lavish spending such as this and others being discussed in Europe will erode investors' confidence, Hendry warned. The plan pledges to guarantee the liabilities of six Irish-owned banks totaling some 400 billion euros ($565 billion), more than twice the country's annual gross domestic product . "The decision, if left to stand … my prophecy is it will bring down the currency. The euro is not a tenable currency if you have politicians making such decisions. The reality is there is no such thing as a free lunch "... Irish lawmakers backed the plan and the government said it may be extended to foreign banks with retail units in Ireland, but it has raised questions in Brussels and Londo...

Uncertainty over jobs after record market fall... AS grave uncertainty hangs over the future of thousands of jobs at Irish branches of recession-slammed US firms, markets are not expected to rebound quickly from yesterday’s record-breaking fall. At home, the ISEQ index of Irish shares’ closing figure was its lowest for more than five years. Across Europe, the trend was similarly dismal for a second day, with the FTSE Eurofirst 300 index falling 2.6% to its worst close since May 2005. The stock market shock waves followed the collapse of investment bank Lehman Brothers, the 158-year-old fourth largest financial institution in the US. In response, central banks around the globe pumped funds into the money markets, including €70bn from the European Central Bank, $50bn (€70.5bn) from the US Federal Reserve and £20bn (€25.2bn) from the Bank of England. Lehman’s bankruptcy filing, the biggest in US history, followed Merrill Lynch & Co’s decision at the weekend to sell itself to Bank of A...

Post "poperty boom", Ireland is now in "property crash" phase, and the country's finances are in dire straits. But it's not just Ireland going through bad times - there's a lot of turmoil elsewhere like in the US...so who's to blame there???? "Spicing up the blame game with some new contenders... Now the Dow Jones Indust­rial Average has dip­ped into bear-market terri­tory, it's time to address an important matter: We need new people to blame. The latest trio of popular villains is so unoriginal. Short sellers? Oil speculat­ors? Accounting rulemakers? Surely we can do better. After careful study, and some occasional attention to factual detail, I propose a new set of people and things to blame for the market meltdown, around which we all can rally in the shared cause of finger-pointing, schädenfreude, and the illusion of accountability. The sole criterion to join my list of Seven Deadly Sinners: they all had to be just as much to blame as sh...