Mr Noonan has said taxpayers could save up to €375m per year if the State was able to pay-off a share of the IMF portion of the €67.5bn bailout. Any deal needs support from several quarters in Brussels but would give the Finance Minister plenty of scope to cut taxes in next month's Budget.
The Limerick man will also be holding a series of meetings with EU finance ministers at the Informal Ecofin meeting in Milan on Friday week. The meeting is taking place as part of the Italian Presidency of the European Council.
THE Government should use tax cuts to stem the mass exodus of young people from Ireland, business body IBEC has urged.
Goodbody Stockbrokers has bought BDO's private wealth management advisory business, the Irish Independent can reveal.
Health insurance companies will be asked to freeze the price of their policies for as much as two years in exchange for a Government commitment not to increase some taxes on the industry over the same period.
John McManus: There is a school of thought that the solution to Dublin’s housing “crisis” is to unleash the same bunch of property developers who made such a mess of it the last time round.
An ally of German chancellor Angela Merkel criticised the European Central Bank and its president Mario Draghi in a rare public attack, telling Bild newspaper the ECB’s new schemes to bolster lending and buy asset-backed securities would scare Germans and help the far right.
Ireland is well placed to attract major new flows of foreign direct investment from multinationals in Australia and New Zealand, the Government has said.
Euro Topics: Global economy a huge house of cards: The ECB is helping to turn the global economy into a house of cards that will sooner or later collapse, the left-liberal Austrian daily De Standard warns: "The low interest rates have induced households to amass growing debts. In the past six years the ratio of household debt to disposable income rose globally from 155 to 175 percent. Investors and banks have become increasingly audacious because secure investments don't pay off, and therefore they take more risks. The result: the supply of high-yield corporate bonds has tripled in the past three years, and the proportion of borrowers with low credit ratings has risen dramatically. Added to that is the flight into material assets, above all luxury real estate. The central banks have turned the global economy into an enormous house of cards that will inevitably come crashing down sooner or later. And instead of stepping on the brakes, they're blithely carrying on as before."
Ball is in the court of Paris and Rome: The ECB's lowering of the base interest rate must be accompanied by reforms in struggling Italy and France, the conservative Spanish daily La Razón urges: "The problem is that there are obstacles that even the ECB can't overcome and that have to do with the enormous budget deficit that has accumulated in the Eurozone. This is braking growth and destroying the citizens' faith in the future. Without naming them explicitly, the ECB chief has once again admonished the governments of France and Italy, which still haven't carried out their promised reform programmes and whose public finances are dangerously deteriorating. The injection of liquidity and the devaluation of the euro against the dollar are without doubt sensible steps and will help countries like Spain that have done their homework. But they mustn't be used as an excuse to delay necessary reforms."
Trierweiler gives journalism a bad name: A book by journalist Valérie Trierweiler on her affair with French President François Hollande has already sold over 15,000 copies in France. Trierweiler is betraying her profession with her revelations, Jean-Noël Cuénod writes in his blog on the website of the regional daily La Tribune de Genève: "A journalist shares the president's bed. And after she's dumped she reveals a 'miserable little pile of secrets' (as Malraux put it). ... In this way she twice betrays her profession. First by entering the intimate spheres of power without shedding her journalist's persona, and also without being able to say anything about how this power is exercised. And secondly by using her knowledge solely to satisfy a personal desire for revenge. As for the president, already discredited by his wavering political course, he is now being made to look absurd by these revelations. ... Is it really surprising that politicians and journalists are rapidly losing the little credibility they still have?"
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