| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

Follow Finfacts on Twitter

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : International Last Updated: Jun 27, 2014 - 3:38 PM


Friday Newspaper Review - Irish Business News and International Stories - - June 28, 2014
By Finfacts Team
Jun 27, 2014 - 11:56 AM

Email this article
 Printer friendly page

Irish Independent

TAOISEACH Enda Kenny will lobby the next president of the European Commission in order to get a top-job commissionership for Ireland.

EU leaders gathered last night, Mr Kenny refused to say who he was lining up to send to Europe – but he admitted to discussing available positions with presidency favourite Jean- Claude Juncker.

"I had a discussion with Jean- Claude Juncker last Saturday and assured him of my support following the very clear election process we had in Dublin.
advertisement

"I said that on his election as president then we would be talking about commissionerships.

"There are a number of commissionerships that would be of interest to Ireland and I will speak to the president when he is elected,"

Once upon a time, quite a number of people thought Ireland was the best country in the world. If any of them still exist, they will doubtless have enjoyed reading the reports about the findings of the Good Country Index.

That organisation – previously unknown to me, I must confess – has named us the best, or to use its own quaint term, the goodest country out of 125. But it cannot have expected the real-world Irish reaction. It has been overwhelmed with emails of angry protest.

Evidently the authors of these messages have in mind such everyday Irish experiences as broken banks, unemployment, emigration, negative equity, mortgage arrears . . . the list could go on and on.
advertisement

You have to wonder what research the Good Country Index people conducted – and when. You also have to wonder what criteria they relied on.

To do them justice, their report does contain the odd flash of enlightenment. For example, we come 45th in the category of "climate and planet".

Considering that in the matter of combating climate change our contribution has been close to zero, you could call that a bit generous.

But their glimpses of reality are rare. For the most part, they describe a country none of us ever knew even in the best of times.

The characterisation of disgruntled litigants as "bedecked in a sandwich board declaiming various grievances . . . invariably adorned with excessive punctuation, block capitals and dubious spelling" by senior counsel Remy Farrell (June 23) smacks of condescension.

There are many within and without the State who are unhappy with the litigation process in Ireland, and in particular that it is far too expensive.

Among the many reforms agreed by this State with the troika in 2011, was that the "government will remove restrictions to trade and competition in sheltered sectors including: the legal profession, establishing an independent regulator for the profession and implementing the recommendations of the Legal Working Group and outstanding Competition Authority recommendations to reduce legal costs".
advertisement

Many lawyers in the sheltered professions assumed that these reforms would not be enacted; that painful reforms would be borne by the plebeians only, and not impact in any meaningful way on the patricians of our society. To date, they have been proven correct.

Irish Times

Taoiseach Enda Kenny has asked Government departments to draw up policies and plans that can be implemented in the last 18 months of the Coalition’s term.

As part of the so-called reset process following the local and European election drubbing for Fine Gael and Labour, achievable goals are being considered across Government to bring focus to the remainder of the lifetime of the Coalition.

With a reshuffle due after the Labour Party elects a new leader on July 4th, senior Government sources said the ideas under consideration would outlast any change in personnel around the Cabinet table.

Chris Johns: Fans of capitalism are a vanishing breed. In the wake of the great financial crisis, few people are willing to put their heads above the parapet to defend a system that has generated so much misery. Indeed, critics are in the ascendant.

The new darling of the left, Thomas Piketty, says he does not want to abolish capitalism but his policy suggestions could result in precisely that outcome. In what looks like a Piketty-inspired policy proposal, the left wing think tank, the Nevin Economic Research Institute, in its pre-budget submission this week called for “redistribution of excess returns to capital”. Nobody, it seems, likes profits.

All very understandable: our flirtation with a second Great Depression has laid bare many of capitalism’s weaknesses. Reform is necessary but there is little agreement on the what that means. For some, it is a matter of small tweaks; others see a chance for the resurrection of hard left policies, long thought buried under the rubble of the Berlin Wall.

It was British politician Enoch Powell who said that “all political lives, unless they are cut off in midstream at a happy juncture, end in failure, because that is the nature of politics and of human affairs”.

It’s a quote that could be applied to the business career of Sir Anthony O’Reilly, who today faces a key High Court judgment relating to his €195 million debts.

O’Reilly was born in Dublin in May 1936 to Jack O’Reilly, a civil servant, and Aileen O’Connor. The couple pretended to the outside world to be married, but Jack had been married before, with children. Tony wouldn’t learn of this for some years.

The French economy came to a standstill in the first quarter, official estimates showed on Friday, and economists said the outlook for the rest of the year was not encouraging, despite some gains in consumer spending in May.

The report that the economy grew not at all in the first three months of the year came a day after data showed the number of jobless rose to a record high in May, casting fresh doubt on government projections of 1 per cent growth this year.

The 1 per cent jump in consumer spending in May beat the consensus forecast of a 0.4 per cent gain. It was the highest reading since November of last year.

Irish Examiner

Transport Minister Leo Varadkar has confirmed that there will be no cross-subsidisation between an independent Shannon Airport and the rent roll from Shannon Development’s extensive land bank.

In the latest figures available, the Shannon Development land-bank provides €11m in annual gross rent receipts.

However, addressing the Dáil on the State Airports (Shannon Group) Bill 2014, Mr Varadkar indicated that the airport will not have access to the Shannon Development rental revenues in the merged Shannon Group.

“The success of the Shannon Group will be enhanced by ensuring that its two main subsidiaries are each commercially successful in their own right and do not cross-subsidise each other.

“This structure will also facilitate greater transparency in the application of State aid rules by Shannon Group and its subsidiaries. Any business arrangements between them will be on a commercial basis and will involve no cross-subsidisation of operations at the airport.

Europe

Euro Topics: Time for a shift to the left: Europe's leftist heads of state and government should hold firm on their terms for Juncker's nomination and then jointly develop a programme for Europe's future, the left-liberal daily Libération believes: "Much rides on the discussions now getting under way. The social democratic left has established a new balance of power and is making Jean-Claude Juncker's mandate as Commission president contingent on a decisive change of direction in European economic policy. It will focus more on growth, targeted industrial policies and an extensive investment plan. This shift to the left is the correct move, but above all it must not degenerate into a power struggle between Europe's social democrats. On the contrary, François Hollande and Matteo Renzi must redefine European policy together."

Association must mean protection from Russia: Georgia, Moldova and Ukraine will sign association agreements with the EU today. That also puts the onus on the EU to stand up more firmly to Russia, the German conservative daily Die Welt stresses: "Russia has already cut sections away from all three states, without the West doing anything to seriously question the resulting situation on the ground. ... We are still governed by the philosophy that Moscow should not be 'provoked' into committing even more aggressive acts. But let's not fool ourselves: Putin can't be dissuaded from his logic of expansion if the West hesitates and avoids making him feel the consequences. ... And Ukraine and the other new partner countries won't be able to take advantage of even the most promising association perspectives if the West proves incapable of preventing autocratic Russia from pursuing its policy of destabilisation."

Berlin becomes bungling capital: Reports on fresh problems and delays in the construction of Berlin's new airport are a regular feature in German media. On Thursday the CEO of the state-owned company that will operate Berlin-Brandenburg Airport (BER), Hartmut Mehdorn, asked for an additional 1.1 billion euros from the state for its completion. Even fans of Berlin have had enough of the whole thing, the Swiss daily Tages-Anzeiger comments irritably: "Although at first people thought the airport debacle was funny, now it's become annoying to always have to land at antiquated Tegel Airport. So Berlin's image has gone from that of a cool metropolis to that of a bungling capital. ... 'Poor but sexy' was how Berlin's long-standing Mayor Klaus Wowereit described his city. The message was that creativity and a laissez-faire attitude are more important than traditional German virtues like diligence and meticulousness. ... German President Christian Wulff was forced to step down for accepting an invitation to stay in a hotel worth a few hundred euros. Wowereit is partly responsible for this fiasco that is costing billions - he has been the chairman of the airport's supervisory board for years. But will he assume political responsibility? No way! We are in Berlin after all."

Suárez must go on bite detox: Uruguay's national player Luis Suárez was suspended for nine matches and banned for four months from any football activity for his biting attack against the Italian Giorgio Chiellini during the Fifa World Cup. What the notorious biter really needs is therapy, the left-liberal Spanish daily El País recommends: "Quips like 'Suárez Lecter', 'Luis the Cannibal' or 'Goal at first bite' aside, the decisive question in Suárez's case is why psychologically conspicuous behaviour has been allowed to be repeated without being treated, and this in a highly professional sport. ... Neither the Uruguayan Football Association nor FC Liverpool can deny that the player suffers from an uncontrollable desire to bite. So it's striking that until now they haven't been able to diagnose it and put him in therapy. ... Instead of a simple punishment, Suárez should only be allowed onto a football pitch once he's undergone therapy and can prove he's been cured of his compulsion to bite."


© Copyright 2011 by Finfacts.com

Top of Page

International
Latest Headlines
Wednesday newspaper review: December 17, 2014
Tuesday newspaper review: December 16, 2014
Monday Newspaper Review - Irish Business News and International Stories - - December 08, 2014
Friday Newspaper Review - Irish Business News and International Stories - - November 28, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - November 27, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - November 25, 2014
Friday Newspaper Review - Irish Business News and International Stories - - November 21, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - November 20, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - November 19, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - November 18, 2014
Monday Newspaper Review - Irish Business News and International Stories - - November 17, 2014
Friday Newspaper Review - Irish Business News and International Stories - - November 14, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - November 13, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - November 12, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - November 11, 2014
Monday Newspaper Review - Irish Business News and International Stories - - November 10, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - November 06, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - November 04, 2014
Monday Newspaper Review - Irish Business News and International Stories - - November 03, 2014
Friday Newspaper Review - Irish Business News and International Stories - - October 31, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - October 30, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - October 29, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - October 28, 2014
Friday Newspaper Review - Irish Business News and International Stories - - October 24, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - October 22, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - October 21, 2014
Monday Newspaper Review - Irish Business News and International Stories - - October 20, 2014
Friday Newspaper Review - Irish Business News and International Stories - - October 17, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - October 16, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - October 15, 2014
Monday Newspaper Review - Irish Business News and International Stories - - October 13, 2014
Friday Newspaper Review - Irish Business News and International Stories - - October 10, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - October 09, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - October 08, 2014
Tuesday Newspaper Review - Irish Business News and International Stories - - October 07, 2014
Monday Newspaper Review - Irish Business News and International Stories - - October 06, 2014
Thursday Newspaper Review - Irish Business News and International Stories - - October 02, 2014
Wednesday Newspaper Review - Irish Business News and International Stories - - October 01, 2014
Monday Newspaper Review - Irish Business News and International Stories - - September 29, 2014
Friday Newspaper Review - Irish Business News and International Stories - - September 26, 2014