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Member Since: Mon, 16th Nov 2009

Number of Share Chat Posts (all time): 7,884
Number of Share Chat Posts (last 30 days): 22

Last Posted: Fri 16:01


Post Distribution over the last 30 days




6 May '16

Finance spokesman Michael McGrath told the Irish Examiner he will table legislation “within weeks” to give the Central Bank extensive powers persuading lenders to cut expensive standard variable mortgage rates.

“We will introduce legislation at the first opportunity,” said Mr McGrath.

A majority of deputies in the Dáil would now support imposing some sort of controls on mortgage interest rates because lenders are charging “excessive rates”, he said.The legislation could be on the statute book in a relatively short period of time, said Mr McGrath.

The agreement Fianna Fáil has struck to help support a minority Fine Gael government includes a commitment to tackle high variable mortgage interest rates.

The commitment by Mr McGrath means there is likely to be swift progress over variable rates, of which Ireland has the highest in the eurozone.

The Central Bank has long said it doesn’t have the powers to apply ceilings to mortgage interest rates, and, indeed, doesn’t want such powers.

Central Bank governor Philip Lane told reporters last week that imposing a rates ceiling was “a very crude instrument which has many downsides, and is really the symptom rather than the underlying cause”.

He is worried that any controls will discourage new lenders entering the mortgage market.Any legislation to regulate standard variable mortgage rates will not be universally welcomed.

One senior market source said new entrants would likely shy away from a country where rates are set by politicians.

“Political interference would be perceived as very unhelpful,” said the source, referring to funding of Irish lenders and the potential erosion of value in the banks when the State sells its stakes.
6 May '16

Kenny a dead duck PM his hands along with noonan well and truly tied now Independents will control the strings of power otherwise pull the plug uncertain times ahead for Ireland.
5 May '16

You think Lloyds is bad take a look at the FKIR=BKIR 7 years of shoite.
5 May '16

Legislation to force banks to offer split mortgages to householders in mortgage distress is to be enforced by the new government as part of a draft agreement between Fine Gael and Independent TDs.
The proposed ‘Programme for Partnership’, which is being discussed by the sides on Thursday afternoon, contains a series of proposals to deal with people in mortgage arrears.
Fine Gael and the Independent TDs, including five rural TDs, the Independent Alliance, Maureen O’Sullivan, Katherine Zappone and Michael Healy-Rae, resumed talks at 12.30pm.
Fine Gael is seeking the support of at least six Independent TDs in a bid to secure the 58 votes required to support a minority government.
Senior sources insisted a vote for Taoiseach is likely to take place on Friday. However senior Ministers may have to wait until Tuesday to be assigned portfolios.
Fine Gael last week reached an agreement with Fianna Fáil, which will last for three budgets.
The proposed ‘Programme for Partnership’ is based on a five-year timeframe.
The Irish Times understands one of these measures in the creation of a new body which will seek to assist homeowners facing repossession.
Under this proposal a court will be unable to hear a repossession case until it has been processed by this new agency and all resolution options examined.
It is understood the agreement also proposes to legislate to force banks to introduce split mortgages. These are currently issued at the discretion of the individual banks.
18 Apr '16

Hit, next support 0.21c range.
18 Apr '16

Main reason our fkir along with other financials and stocks in general poor performance is global growth issue and Lack of it next is Brexit fears which if Takes place will drive SP back to teens, Irish gov only a side issue as upper echelons of public service continue to run the country taking orders from ECB and germany regardless who forms next government with no majority.
8 Apr '16

Should not be permitted to have anything to do with running a company ever again sadly they probably doint need to financially and will ride off into the sunset with their golden handshakes Good riddance BOc and board.
7 Apr '16

The Fkir (Bkir) worth a look and will get cheaper on run upto brexit .
7 Apr '16

Spot on.
7 Apr '16

SP now below its 200dsma, Another Election Looming as FF will not agree coalition with Fg Brexit to look forward to etc SP will be in Low 20s soon enough.


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