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reland must assert its sovereignty and invest the proceeds of the AIB shares in public infrastructure, according to leading economist, Paul Sweeney of TASC.
The main reason for investing this capital in Ireland, Mr Sweeney said, is that it generates bigger returns than the savings on the interest on the national debt. Furthermore, the extraordinarily low level of public investment is manifested in the housing crisis and hospital overcrowding. read full story / add a comment
international / economics and finance / press release Thursday April 13, 2017 17:29 by 1 of indy 2 images 1 attached file
Yet another issue of the bi-monthly People's News has been published just last week and it carries an important story reproduced here on how the banks are avoiding paying tax, some at low rates comparable to the Apple deal at 2%.
There are other important articles carried too including a look inside NATO and how it's creeping influence over the EU is growing.
Yet another bank rip-off—facilitated by the Irish government
A look at NATO’s web site read full story / add a comment
The Financial Oversight and Management Board of Puerto Rico warns "the Commonwealth soon will be unable to pay essential services, including pensions, education, healthcare and public safety," as soon as June. read full story / add a comment
international / economics and finance / news report Thursday February 23, 2017 19:05 by Greg Williams
Treasury's Financial Crimes Enforcement Network (FinCEN) renewed requirements for title insurance companies to identify the real owners behind shell companies in six major metropolitan areas. read full story / add a comment
national / economics and finance / feature Thursday November 24, 2016 03:56 by 1 of Indymedia 4 images
We are republishing this article by Stephen Donnelly TD who has been doing great work in exposing how Fine Gael have gone out of their away to facilitate vulture funds who are now preying on ordinary people by charging exorbitant rents and fueling the current property and are replacing the English absentee landlord of centuries past, with ruthless vulture funds capitalists of this era and essentially introducing a form of neo-fuedalism as increasing huge swaths of the population are either priced out of buying homes, or are signing up for debt that last close to a lifetime.
read full story / add a comment
national / economics and finance / press release Monday October 31, 2016 19:09 by aaa 1 image 1 attached file
The Anti-Austerity Alliance have produced their own budget statement titled ‘From Corporate Tax Haven to Socialist Green Economy.’
This document stands alongside and compliments the joint statement issued by AAA-PBP. It outlines a detailed vision for the steps which need to be taken economically to transform the economy and society into one which puts the needs of people and the environment before the profits of big business and the capitalist system. read full story / add a comment
national / economics and finance / press release Monday September 12, 2016 22:00 by pbp 3 comments (last - wednesday september 14, 2016 21:59) 1 image
The political establishment have been left reeling by the size of the award made against Apple. They have launched an all-out propaganda war to try to recover ground.
Here are some of the lies and half truths:
‘The EU is attacking Ireland’s sovereignity’ . The same politicians who meekly accepted orders from the European Central Bank to pay out €64 billion in bank bail-outs have suddenly discovered nationalism.
When it comes to water charges or the privatisation of Aer Lingus they tell us to obey the Brussels bureaucracy. But it is a different story when there is a threat to the ‘tax planning’ industry that is staffed full of accountants and lawyers. Then all of a sudden it is time for the green jersey.
The global elite are under pressure and this is leading to splits and divisions. When this happens they spill the beans on how their system really works. read full story / add a comment
national / economics and finance / press release Sunday September 04, 2016 22:55 by DDCI 1 image 1 attached file
DDCI Calls for Oireachtas Debate; Full Review of Tax Ruling Practices by the Revenue Commissioners Following Today’s EC Apple State Aid Ruling
Following today’s decision by the European Commission that Apple was granted illegal state aid, Debt and Development Coalition Ireland (DDCI) is calling for a full Oireachtas debate to take place before any decision is made to contest the ruling in the European Courts.
The details of the revenue seemingly voluntarily foregone by the Irish state are truly astonishing, with Apple paying an effective tax rate of 0.005% in 2014 and reports of 13 billion EUR foregone in the period 2003-2014. This is particularly remarkable given the austerity policies ordinary Irish citizens were facing during much of this period. read full story / add a comment
WP says tax windfall must be used for ‘public compensation fund’ to build public housing
Apple revenue could build 72,000 houses in Ireland
The Workers’ Party has today (30th August) issued a call for the government not to appeal the European Commission’s Apple tax decision, but to establish a ‘Public Compensation Fund’ with money recouped from Apple’s unpaid tax bill. read full story / add a comment
n August, a paper entitled “Inter-Governmental Group on Fuller Working Lives” appeared. It was an irrelevant document that did nothing to tackle the growing threat of poverty for older people.
The numbers aged 65 and over is estimated to increase from 570,000 in 2013 to 855,000 in 2026. But the government has already raided the National Pension Reserve Fund that was designated to pay for these growing numbers.
Workers contributed to this fund but it was literally stolen. There was €22 billion in it when the Celtic Tiger crashed but about €17 billion was used to bail out the banks. The rest was used to set up an Irish Strategic Investment Fund which has become a means of funnelling cheap credit to business people. read full story / add a comment
national / economics and finance / press release Tuesday July 26, 2016 22:27 by 1 of Indymedia 1 image
A new report from the independent progressive think tank TASC shows that consistent child poverty almost doubled during the recent economic recession. This data is contained in Cherishing All Equally 2016, the first annual update of TASC’s groundbreaking 2015 report on economic inequality in Ireland.
Cherishing All Equally 2016 – which was prepared by Dr Rory Hearne and Cian McMahon – updates 18 key economic inequality indicators including the distribution of income and wealth, as well as the provision of public services, taxation, family composition, people’s capacities and the cost of goods and services. In addition, the report includes two in-depth themed sections: ‘Children and economic inequality in Ireland’ and ‘Gender and economic inequality in Ireland’ – the latter section was prepared by UCD’s Dr Ursula Barry and Dr Maggie Feeley. read full story / add a comment
national / economics and finance / press release Saturday May 07, 2016 19:38 by Shell to Sea 3 comments (last - wednesday may 18, 2016 13:39) 1 image
Shell to Sea campaigner Maura Harrington was arrested in Belmullet on Friday afternoon and jailed for 10 days in Mountjoy prison for the non-payment of a court fine of E300.
It is thought that the jailing relates to a 2012 protest attempting to block construction of the disputed development. read full story / add a comment
national / economics and finance / press release Thursday April 07, 2016 17:21 by Claiming Our Future 3 images
Today campaigners of the Robin Hood Tax Campaign presented a cheque for €1.8bn at Leinster House in Dublin. It represents the amount of revenue a Financial Transaction Tax (FTT) could raise over the 5 year lifespan of the next Government. Also called the Robin Hood Tax, its implementation would oblige financial institutions to pay a tiny tax on trading in bonds, shares and derivatives. read full story / add a comment
international / economics and finance / press release Monday February 29, 2016 23:40 by FoE 1 comment (last - tuesday march 01, 2016 19:30) 1 image
Media advisory - For immediate release: Monday, 29 February 2016
Dangerous CETA deal must be rejected.
Promises from the EU and Canada that they have improved the Comprehensive Economic and Trade Agreement (CETA) are fooling no-one, according to Friends of the Earth Europe. It remains a dangerous agreement that gives special right to corporations and threatens our democracy and the environment, says the group.
read full story / add a comment
The Sunday Business Post ran a story claiming that vulture funds who bought up the loan books of Irish financial institutions are likely to step up pressure for payment after the general election.
The report in the Sunday Business Post is a terrible warning of what is to come. Far from years where we enjoy a new ‘fiscal space’ there is more economic turmoil ahead.
US vulture funds were encouraged to come into this country to buy up debt at incredibly low prices. The debts of both mortgage holders and small business enterprises became another opportunity for profit making. read full story / add a comment
Puerto Rico's House of Representatives approved legislation to reform its highly indebted public utility company "PREPA." read full story / add a comment
US Judge Explores Lifting Argentina Sanctions After Country Offers $6.5 Billion to Hold-Out Investors
US District Judge Thomas Griesa ordered "hold-out" investors on Thursday to explain why various sanctions on Argentina should not be lifted. read full story / add a comment
Victory Clare County Council voted to reject the TTIP( Transatlantic Trade and Investment Partnership) on Mon 8 feb.
It’s official – Clare is now Ireland’s first TTIP Free Zone!
Monday night was a milestone moment in our fight to stop the toxic deal TTIP. Following a campaign led by Uplift members, Clare County Council passed a motion to declare the county a TTIP Free Zone. read full story / add a comment
international / economics and finance / opinion/analysis Wednesday February 10, 2016 12:11 by Paddy Hackett
Steve Keen is the author of Debunking Economics. He is critical of Neo-Classical Economics read full story / add a comment
national / economics and finance / feature Tuesday February 02, 2016 23:11 by T 2 images 1 attached file
Forget the official Banking Inquiry report because Joe Higgins has written a much more better one and it asks the rights questions and gets to the heart of the matter by putting the whole saga in its proper context -something which the official report couldn't thing as it would mean asking fundamental questions. Indeed the inquriy itself and official report have been steeped in controversary with allegations of coverup because of numerous reports of key officials and whistleblowers in the regulator office and central bank were ignored and their evidence never making into the inquiry. The whistleblower made a formal complaint under the Protected Disclosures Act and (Village Magazine) "outlining a range of detailed concerns about how the Central Bank and some of its legal representatives were omitting huge swathes of vital documents, redacting many of the most crucial pieces of evidence, and delaying release of vital material until it was too late to use them in briefings for public hearings – in at least one case handing them over 24 hours before a scheduled interview about them." read full story / add a comment
Tue May 02, 2017 01:55 UK Indymedia Features
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