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Today MEPs voted to endorse the findings of a report into the Troika – but ultimately there will be no sanctions. Ireland is not yet free from economic shackles, writes Nessa Childers MEP.
Burning the bondholders would be “akin to sovereign default” Eamon Gilmore told the Dáil this morning and said the issue of the promissory note has been “resolved”.
The motion was defeated by 77 votes to 40 in the Dáil this evening with Sinn Fein and Independents supporting it and Fine Gael and Labour in opposition.
Minister of State Fergus O’Dowd was the highest profile Government representative present as they were asked to request a debt writedown by Independent TDs
After the boom-years, people are wondering if there is an alternative system that might work better, writes Órla Ryan, who says worker co-operatives might be just what we’re looking for.
Jeroen Dijsselbloem had earlier said the Cyprus template – where depositors and bondholders are hit before governments – is the new model for how troubled banks will be handled. He has since clarified the remarks.
Many of us are returning to work for the first time tomorrow following the festive period. Here is a round-up of the news stories you may have missed. You are welcome.
The only one of Ireland’s main banks not under State control makes the final payment to bondholders today bringing to over €20 billion the amount paid out by it and other banks this year.
Finance Minister Michael Noonan has said that an attempt to verify exactly who the bondholders who received €1 billion this week are would be an “irretrievable” step towards default.
Amid a national near-silence, the residents of Ballyhea in Cork protest against the bondholder bailout every single week. Diarmuid O’Flynn explains why he leads the march.
THE GOVERNMENT HAS committed to raising the amount of electricity generated from renewable sources from 30% now to 70% by 2030.
Minister for Communications and Climate Action Richard Bruton said new legislation will have to be introduced to deal with the move.
“It will mean that we will have to look beyond onshore wind and we will have to prepare now for a significant offshore wind capacity in our system,” Bruton said at the weekend.
Ireland has missed targets in the past and our performance in taking action against climate change was ranked the worst in Europe in a report published in December.
The Climate Change Performance Index ranked Ireland 48th out of 56 countries, with a score of 40.84, far below the EU average of 60.65.
Poll: Do you think Ireland will generate 70% of its electricity from renewable sources by 2030?
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