As we have reported earlier in this very page, Irish Nationwide boss Micheal Fingleton go a cool 1 Million Euro bonus despite all the financial trouble besetting their company and basically all the companies in the world. Call it AIG’s fore runner. Or grandfather. Or forefather. In any case, Fingleton’s bonus is safe and we can do nothing about it except to beg him to give back the money. Finance Minister Brian Lenihan confirmed that there is no assurance that the government can ... Read More

The government of Ireland has proclaimed that it would nationalize the Anglo Irish Bank due to financial breakdown. Initially, the Irish government had wanted to recapitalize the bank with 1.5 billion euros, but realized that such a step would not be the best solution, as the bank currently possesses 100 billion euros according to its books. The state says it will take measures to retain the employees and preserve the security of the stakeholders. Anglo Irish Bank top executives maintain that they will cooperate with ... Read More

Finance Minister Brian Lenihan recently stated that UK’s competitive devaluation of the pound is affecting the economies of countries that use the euro which include Ireland. The economic problems of the UK which lately almost brought it near the value of the euro has prompted the government to devaluate its currency. As RI has the UK as its partner in trading, Lenihan said that such a move by Britain is hurting Ireland’s economy. Less than one week ago, the Bank of England lowered interest ... Read More