In short, the ECB’s plan is to nudge the economy in the direction of a recession, in order to combat inflation.
‘Tsunami of repossessions’
There are, unfortunately, choppy economic waters ahead.
If you’re in your late thirties, like me, then you are just about old enough to remember the evils of inflation, and the problems it wrought on the Irish economy in the late 1980s and early 1990s. As the value of money decreased, prices went up. As prices went up, the Government tried to make […]
Forty-five years ago, the English rock band Supertramp released the album Crisis? What Crisis? It was almost universally panned by critics as an assault upon the ears of anyone unfortunate enough to hear it. But I reckon that despite these musical misgivings, it remains the album of choice for the various Christmas parties held by […]
The Rural Independent Group in the Dáil have slammed what they described as the Government’s “complete ineptitude at addressing the grotesque interest rates being charged by banks on Irish homeowners with mortgages”. They point to Central Bank figures which show Irish mortgage holders were charged interest over the past twelve months at 2.83%, compared to […]