Category: Syndicated

The European Central Bank has said if governments withdraw financial support from households and companies too early, it could “set back the economic recovery”.  In its latest Financial Stability Review published today, the ECB says “vulnerabilities in the corporate sector are increasing as the pandemic evolves”. This could “test the resilience of euro area banks […]

Britain’s independent fiscal watchdog, the Office of Budget Responsibility, has said a no-deal Brexit at the end of this year will cut economic growth and increase unemployment. In addition to economic damage caused by Covid-19, which has already caused the biggest fall in UK economic output since 1709, it said a no-deal Brexit will also push up the […]

A draft report from the Oireachtas Transport Committee has recommended that a traffic light system for countries outside the EU be developed before Christmas. The draft report, on issues affecting the aviation industry, has recommended 19 actions in total. It is due to be formally published later this week. Among the changes recommended is to […]

Last week, I spoke about making cents this Christmas. The expression ‘things are tight at Christmas’ resonates with many of us at this time though the lockdowns have precluded many from spending and there have been sizeable savings locked away. Bernard Manning once quipped: “For Christmas this year I gave my kids a set of […]

The Taoiseach has said that Brexit amounts to the most significant fundamental economic change the country has faced in 50 years. Speaking at Dublin Port, Micheál Martin said he remains hopeful that a deal can be struck, adding it is in the best interests of Ireland, the UK and the European Union. He warned that, […]

Consumers shopping online this week are being advised to be on the lookout for scams. Black Friday and Cyber Monday are expected to see another increase in online spending this year. Fraudsters typically target consumers at busy times, but despite that, it looks like card fraud is on the decline. Debit and credit card fraud […]

Consumer sentiment showed a significant and somewhat surprising rebound in November which may signal a stronger outlook for Christmas spending.  The latest KBC Bank Irish consumer sentiment index jumped to 65.5 in November from 52.6 in October, returning the index to its strongest level since March.  However, the November reading still remains substantially below both […]

Former European Central Bank (ECB) president Mario Draghi has warned governments to use the massive stimulus they’ve deployed in the coronavirus pandemic to upgrade their economies or face the risk of another debt crisis. In his first high-profile appearance since leaving his post in October, Mr Draghi called for “credible” economic policies to avoid disillusionment […]

The coronavirus pandemic has wiped out nearly half of the 12 million euro-area jobs created in the seven years since the last recession, in another sign of the enormous damage wreaked on the economy. Employment slumped by 4.9 million in first half of the year, almost all in the second quarter when the most stringent […]

Property prices rose marginally in the year to June despite the pandemic causing massive disruption to the housing market. Prices were up by just 0.1pc in June when compared with the same month last year. House building has been heavily set back by the virus, with estate agents reporting a fall off in viewing activity. […]