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IRISH ECONOMY

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Irish unemployment rate fell to 14% in Q1 2011; Full-time jobs dipped by 67,000 in year; Public sector employment down 3,700 to 400,000
Central Bank forecasts Irish GDP growth of 0.9% in 2011 / 2.2% in 2012; Unemployment / inflation forecasts raised
Ireland seizes Quinn Group from ex-billionaire Seán Quinn
Irish Economy 2011: ESRI says ECB should provide Ireland with interest-free loan of €40-50bn to “overcapitalise” banks

FDI - - foreign direct investment - - projects in Ireland in 2010 from existing and new investing companies grew 15%

Irish Economy 2011: Rising Irish exports, the 'smart economy' and a jobless recovery
Irish Economy: Exports powered growth in both GDP and GNP in third quarter of 2010; Domestic demand fell
Irish economy forecast to contract again in 2011; Unemployment will be at 14% in 2014; Strong growth possible in longer-term
Ireland’s GDP per head was 27% above EU average in 2009
National Competitiveness Council says no strong appetite in Ireland to tackle high costs in sheltered sectors

Success of Ireland's National Recovery Plan 2011-2014 depends on accuracy of Government's economic assumptions

Ireland can choose a path to greatness or perdition
Ireland: From prosperity to austerity - - Higher taxes and review of Croke Park agreement
Taoiseach launches aspirational 'plan' for trade, tourism and investment; Five-year 'strategy' to generate 300,000 new jobs and boost exports from Irish firms by one third

Former public servant calls for 30,000 voluntary redundancies in the Irish public sector

Highest Irish net outward migration since the late 1980s

National Competitiveness Council publishes 'Costs of Doing Business in Ireland in 2010' report
Cowen announces what he terms 7-year €40bn 'stimulus for growth and job creation'
Irish economy maybe set for high growth or low growth by 2015 says ESRI: Full employment in prospect or maybe not
IMF say after steep slump, Ireland is experiencing a nascent recovery; Return to high growth rates of “Celtic Tiger” unlikely
Irish public sector pay/pensions to rise 16% in period 2005-2010; Pay up 11%: Pensions up 66%; Pensioner numbers rise 43% to 103,400
Irish Economy Post-Crisis: Significant change? Glacial change? More of the same?
Ireland gets 10th ranking for most attractive destinations for foreign direct investment (FDI) in Europe in 2009; Irish FDI employment back to 1998 levels
Ireland and leaving the Euro: 10 questions for pub-stool economists
Prices of food and non-alcoholic beverages 39% above EU27 average in Denmark in 2009; Ireland was 29% ahead; Netherlands, Spain and UK were up to 10% below
Medium term economic recovery in Ireland will be largely jobless; Average annual unemployment rate of 12.6% will hold until at least 2014
Ireland: A jobs crisis in search of a national strategy
Report says Ireland is not Greece in economics; 2007 Irish peak employment levels will not be seen again until 2022

Ireland, Eamonn Gilmore and free lunch economics

Call for government strategy that puts food sector at heart of Irish economy
Irish middle income earners in no guaranteed payout pension schemes need to save 15-20% of their salary
International students generate €430m for Irish economy
O’Keeffe to "lead drive" to create 117,000 net new Irish jobs in innovation over next 10 years
Irish Gross Domestic Product and Gross National Product fell 7.1% and 11.3% in 2009 -- the largest decline in output ever recorded in a single year since at least 1950; Economy back to 2003 level
An estimated 345,000 houses or 17% of the Irish housing stock is vacant

Foreign-owned firms responsible for 89% of Irish tradable goods and services exports in 2008; Jobs in sector down 44,000 since 2000

New Irish housing completions may fall below 10,000 in 2011; Average first time buyer couple paying 13.4% of joint income on mortgage - - compared with 26% in December 2006
OECD’s Economic Survey of Ireland: Lenihan says report should be "compulsory reading"

OIL MARKET

World Energy Outlook 2010: China will lead rise in world energy demand over next 25 years; Rising use of coal will undermine efforts to limit global warming

BP Statistical Review of World Energy 2010: Recession drove 2009 energy demand lower; Oil giant says global reserves sufficient to meet 2009 production for 45.7 years
Calculus of globalization becomes more complicated with high price of oil; Shipping cost is on average the equivalent of a 9% tariff on trade

CREDIT CRISIS

IMF says segments of global banking vulnerable to more shocks; Weak European banks in maelstrom of interlinked pressures
Financial Regulation: IMF says society must stand with supervisors in role as naysayers in times of exuberance
This Time It’s Different: Eight centuries of financial folly; conceit and money
Simple explanations and cure for global financial instability
The influence of "Animal Spirits" on Business Climate Surveys; Economists provide Queen with belated answer on credit crunch

Lessons from Global Credit Crisis: Market discipline, regulation, macro-economy main failures; IMF says: Government Debt of rich economies to rise 15% of GDP - biggest 2-year jump since 1945

Global financial crisis slashed value of financial assets worldwide by massive $50 trillion in 2008 - - the equivalent of annual global GDP

Merrill Lynch 2008 loss: $27bn - - 700 staff paid bonuses of at least $1m each; Top four received a combined $121m
Fixing the Banks - - Glass-Steagall Act was repealed by Congress in November 1999, a measure that has been termed the "Citigroup Authorization Act."
The Credit Crisis: Denial, delusion and the "defunct" American economist who foresaw the dénouement
How Goldman Sachs made money from US subprime mortgages on the way up and down
 
Irish Government Services to Business - Supports, Grants, Training and Procurement

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KEY RECENT POSTS:

Dublin Review of Books: Use the Mirror; The Irish economic crisis and the lack of enthusiasm for overdue reform

Clever Countries: Group intelligence - - a Hive Mind - - crucial to economic success compared with individual IQ

IMF's Chopra says Ireland should deliver necessary policy action; Europe needs to deliver shared solution

Irish jobs at foreign multinationals in 2010 were at 1998 level; Jobs in Irish-owned tradeable sector also back to 1998

Irish Competitiveness: Devaluatio​n the hard way - - a sustainable cost reduction miracle?

Devaluation: Panacea for troubled Euro economies from architect of Irish State bank guarantee

Irish Economy 2011: The Jobs Initiative and a promised ambitious long-term strategy

When Finland repaid its debt in the 1930s; Greek restructuring gets attention; Ireland to follow?

France's last annual budget surplus was in 1974; National debt to GDP ratio up from 22% in 1975 to 82% in 2010

State of the Union: Can the Eurozone survive its debt crisis?

Japan's 'Homer Simpson' returns to take charge of nuclear crisis

Anglo Irish Bank reports loss of €17.7bn in 2010 - - greatest in Irish corporate history

A Decade of Debt 2008-2017: Implications for growth in the developed world

Ireland, an Béal Bocht and a freshly varnished Victims' Cross

Key facts on Irish enterprise policy and the challenge of creating 200,000 net new jobs

Irish Economy 2011: US multinationals have $800bn on deposit in Dublin; Fact or leprechaunic fantasy?

Korea and Finland top the OECD’s latest PISA survey of reading literacy among 15-year olds; Ireland slides

Foreign-owned firms accounted for 91% of Ireland's tradeable exports in 2009; Food & drink exports fell 15%

Ireland and leaving the Euro: 10 questions for pub-stool economists

 

Share Prices Property Investment
Key Weekly Statistics Irish House Prices/Market
Investor appetite for global equities at highest level in 3-1/2 years

Irish Shares: Stock market capitalization at end 2010 was at 1997 level in current money values

Global Stock Markets 2010: Among big countries, Germany and US were in the lead while shares in China fell
Barclays' study warns of increasing market volatility; Rising inflation in China/ India marks end of 30-year global disinflationary trend
Pensions’ over-exposure to equity market leaves Ireland vulnerable
The Credit Suisse Global Investment Returns Yearbook 2011 provides 111 years of data on financial market returns in 19 countries, from 1900 to date

Mortgage Rates Savings Rates
First Time Buyers Pensions 2011
Mortgage Costs Life Insurance
Health Insurance Financial Directory
Irish Financial Regulator Consumer Reports  Irish Credit Bureau - credit record held for 5 years
Irish managed pension funds rose 21.8% in 2009 compared with a 27% gain in the ISEQ Index and 2008 loss of 34.8%
 

Irish Tax 2011/2010 Irish Revenue Online
Tax burden rising on workers in OECD countries; Irish tax wedge below average except for high income singles Commission on Taxation Report 2009 - - Proposals on Irish tax overhaul
The overall tax-to-GDP ratio in the EU27 was 39.3% in 2008; Tax ratio more than one third above the levels recorded in US and Japan
IFSC - Dublin's Offshore Financial Services Centre The "honest Swiss" and tax secrecy
The Minimum Wage in European Union member countries 2011
Irish and Eurozone Competitiveness Indicators 1999 - 2009
Irish Central Bank: Compendium of Economic Statistics 2010 (pdf)
Budget and Economic Statistics Ireland - 2010 Economics & Financial data to Sept 2010; Multi-year data covering a multiplicity of areas.
Irish Public Service Agreement 2010-2014: It could work or may not; "It' déj Irish Live Register 2011: Seasonally-adjusted numbers fell 6,900 to 442,677; Non-nationals dipped 2,868 to 78,527 Irish Live Register 2011: Seasonally-adjusted numbers fell 6,900 to 442,677; Non-nationals dipped 2,868 to 78,527à vl over again"

World Development Report 2011: 1.5bn people live in countries affected by cycles of political and criminal violence

IMF cuts Irish GDP 2011 growth forecast in half; Says global economic recovery gaining strength

Rising demand for oil could have detrimental effect on world growth IMF warns

OECD countries need to create 17m jobs to get employment back to pre-crisis levels; Ireland needs 318,000 jobs to return to 2007 level
Globalization and Asia’s return to economic supremacy

IMF's Finance & Development: Asia is moving into a leadership role in the world economy

Developing and emerging countries are likely to account for nearly 60% of world GDP by 2030

Emerging East Asia's V-shaped recovery firmly on track; Time to unwind policy stimulus

Developing Asia's robust V-shaped recovery from the global crisis is gaining further momentum
Impact of crisis on unemployment less severe in EU than in US
Higher taxes on US-based multinationals would hurt US workers and exports; US share of MNC employment at 69%
Irish Economy Reports OECD Factbook 2010
Statistical Yearbook of Ireland 2010 - - Oct 2010 Asia Indicators 2010
Key Economic Statistics Irish Statistics
Global Income per Capita 
 
 

Society at a Glance: Mexicans work longest days in OECD countries; Irish among lowest ranks for routine housework

Housing conditions in EU27 in 2009: Only 3% of Irish population live in flats/apartments compared with 65% in Spain - - published in 2011

Innovation: The woes of world's top R&D spenders - - Nokia and Big Pharma

Continuing to offer healthcare to all in Europe will require rationing of medical services according to new research

Germany’s car industry: Driver and beneficiary of globalisation

Rules for Growth: US entrepreneurship, startups, universities and strategies for jobs

EU GDP per Capita: Netherlands at 31% above average; Ireland at 27% above average but individual consumption at average

Innovation Union Scoreboard: EU is failing to close the innovation performance gap with US and Japan; Ireland remains a follower rather than leader

Return to normal growth in Ireland may take up to 10 years says IMF chief; Japan and US warned on debt challenges
Global unemployment remains at record highs; Official unemployment was at 205m in 2010 - - unchanged from 2009

GE Global Innovation Barometer: Innovation seen as the answer to the challenges of job creation; Paradox of perceptions of countries in lead

Commercial litigation in Ireland on €200,000 claim double cost in Europe; Average Irish court case takes 515 days

Korea and Finland top the OECD’s latest PISA survey of reading literacy among 15-year olds; Ireland slides

US Food and Drug Administration approved as many drugs in 1950 as it did in 2008; Pfizer's CEO announces retirement

Pharmaceutical Industry: Proportion of sales from newer drugs drops; $65bn spent in US on R&D in 2009; 200,000 jobs to go in 2009-2015

Economy: International migration key to long-term economic growth because of the ageing of developed country populations says OECD

Government support to farmers rises slightly in OECD countries to $252.5bn or 22% of total farm receipts in 2009

OECD says share of public spending on health rose from average of 12% in 1990 to an all-time high of 16% in 2008

OECD says growth in development aid continued in 2009 despite financial crisis; Sweden gets top ranking for ratio of national income spent

IMF economist forecasts more house price falls in both the US and Europe

Lehman ousted whistleblower in 2008 who had raised red flags with Big 4 accounting firm Ernst & Young on $50bn scam; Box-ticking auditors in frame

US report says farmers who grow genetically modified (GM) crops are realising substantial economic and environmental benefits

Men who drink alcohol every day can reduce the risk of a heart attack according to 41,438 person study

Some Irish land will have to be dezoned says planning board head; Ireland has 88 planning authorities for population of 4.4m

Zurich employees can buy the most goods after paying taxes/social security - - followed by Sydney, Luxembourg, Dublin and Miami in survey of 73 cities

International House Price Comparisons 2009: Dublin plummets but remains expensive; US average for management level house is $363,401; Most inexpensive at $112,675

Cost of commonly used services on average 30% higher in Dublin than in Belfast

Denmark, Ireland and Finland were dearest for consumer goods such as food, clothing and electronics in EU in 2008

Norman Borlaug - - Father of Green revolution - - saving more lives than any other person who has ever lived

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RISING IRISH EXPORTS, THE 'SMART ECONOMY' AND A JOBLESS RECOVERY

 

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Lenihan publishes Bord Snip report; Proposes €5.3 billion in spending cuts and public sector staff reductions of 17,300; Says public pension cost at 30% of salary  
The Waste Land - - Bord Snip, Irish Public Spending Transparency and the motto "Never do anything for the first time"  
Celtic Tiger Aftermath: Guilty Irish politicians remain in denial and clover while ignoring their victims  
Report says Irish Financial Regulator’s failure to control property bubble contributed to economic crash and consumer wealth losses  
Irish Consumer Prices since 1970  
European banks have €1.3trn in non-core loan assets; Ireland in third rank after Germany and UK  
Global food production will have to increase 70% for additional 2.3 billion people by 2050  
FAO warns of catastrophic food impacts from climate change; Tiny flight tax could protect billions of people  
Global food prices rose for eighth straight month in February; Real food cost at lowest since Great Depression  
Global Food Crisis: Malthus, Food Price Surge, Climate Change and a 42% rise in World Population by 2050  
World Bank study says 12 economies account for more than two-thirds of world’s output; Chinese economy size cut by 40%; Ireland is fourth most expensive world economy  

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