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Posts tagged ‘IRISH TIMES’

NAMA :The corruption continues

for your attention…. Irish Times Today ….. The corruption continues …….

The National Asset Management Agency has confirmed that a company owned by partners of a UK investment firm have bought a 17 per cent stake in the agency’s holding company.

NAMAIL was established as an investment holding company to facilitate the participation of private investors in the project. The stake, whcih was bought by partners of Walbrook Capital, was previously held by Irish Life.

“The decision to invest in NAMAIL followed a careful assessment of the outlook for the Irish economy and in particular its property sector, which we believe is now close to stabilisation,” said Michael Keeley, senior partner of Walbrook Capital, in the statement.
The transaction has already been approved by the boards of Nama and NAMAIL.
The European Union’s statistics office Eurostat said today the sale of a stake in Nama by Irish Life meant the agency could be classified as a special purpose entityoutside the general gov
ernment sector.


Irish Taxpayers are been shafted once again by well placed “insiders” and in the know .This Government has once again allowed outsiders to rape the taxpayers of this country.

Bend over “Paddy” your about to get another present from the collaborators in this Government.


The ECB extortion letters to Brian Lenihan in October/November 2010

By Namawinelake

Today, the Irish Times publishes two feature articles on letters it claims “to have seen” – here and here. It has been established that there are definitely three letters from Jean-Claude to Brian on 15th October 2010, on 4th November 2010 and 19th November 2010. There remains a mystery over the existence of a letter on 11th or 12th November 2010 – Minister Lenihan alluded to it

The letters are threatening in that they tied the continuation of the ECB continuing to provide liquidity funding, to Ireland seeking a bailout programme. In other words “apply for a bailout with close scrutiny of your finances and actions, or we will withhold cash and your banking system and economy will collapse” This is outrageous.

Full article at source :http://namawinelake.wordpress.com/2012/09/01/leaked-at-last-the-ecb-extortion-letters-to-brian-lenihan-in-octobernovember-2010/

Nama appeals ruling on freedom of information

The Irish Times reports today on the stuff that happened in the High Court yesterday (though references to Freedom of Information are confusing, the case is not concerned with the FOI Act, but is about access to information generally).

full article at source: http://thestory.ie/

The case will get underway again this morning but I wanted to make a couple of observations on what happened yesterday.

First, Brian Murray SC (representing NAMA) repeatedly emphasised that if my and the Commissioner’s reading of the legislation was correct, it would have (in suitably dark tones) bring “a whole swathe” of bodies under the Access to Information on the Environment (AIE) regime. He even listed bodies “like the Central Bank” which could be subject to such onerous requests. (The Central Bank is in fact already under the AIE regime), or, horror of horrors, bodies in the semi-State sector (CIE, Bord Gais and the ESB are already in fact covered by the AIE regime) or even the DPP (which may fall under the judicial bodies exemption), but even if it did, imagine a public body like the DPP having to answer AIE requests? Terrible stuff.

Much of the argument centered on what “includes” or “ambiguous” means and how the legislation should be interpreted. Niamh Hyland, for the Commissioner, used mine and Fred’s logical construction that public authority means X and includes Y, where X is the list of bodies in a) to c) and Y is the list of bodies in (i) to (vii) and that the legislation should be interpreted as the Commissioner outlined in her decision.

€166m sliced off the value of NAMA’s Irish commercial property in Q2, 2012

English: A commercial property in Banchory Bet...

English: A commercial property in Banchory Between Bridge Street and High Street; connected with Alzheimer’s care. (Photo credit: Wikipedia)

Jones Lang Lasalle (JLL) has today published its commercial property series for Ireland for Q2, 2012 – the report should be available shortly on the JLL website but for the time being, there is Jack Fagan’s report in today’s Irish Times. The JLL series is one of the two Irish commercial indices referenced by NAMA’s Long Term Economic Value Regulations (Schedule 2) and is used to help calculate the performance of NAMA’s “key markets data” shown at the top of this page. The other quarterly Irish price series is published by SCSI/IPD and will be available on Tuesday 24th July at 3pm; because it is generally published after JLL’s, it is not used here to help compile the NWL index, but the SCSI/IPD index does historically show a very close correlation with JLL’s.

The JLL Index shows that capital values fell in quarter one, 2012 by 2.3% – this means that with the exception of Q4,2011 Irish commercial property has declined in value for 19 of the last 20 quarters and the aberration in Q4,2011 when a 1.2% increase was recorded was due to the exceptional measures set out in Budget 2012 – the reduction in stamp duty on commercial transactions from 6% to 2%, the abandonment of proposals to abolish

full article at source: http://namawinelake.wordpress.com/2012/07/11/e166m-sliced-off-the-value-of-namas-irish-commercial-property-in-q2-2012/

Focus Ireland’s aftercare services and campaign.

Dear Machholz,

I am writing to bring you some good news about progress in our campaign to win a legal right to aftercare for young people who grew up in state care. Your support for this campaign has been important over the last couple of years and I thought you would like to know of the progress made.

As you will have heard and read, the report on 196 children and young people who died while in State care was published two weeks ago. The commentary on this distressing report has been wide-ranging and serious, and among all that has been said you may well have missed an important and welcome new commitment by Minister Fitzgerald.

In her speech at the report launch, Minister Fitzgerald said: ”

All children in care should be entitled to an a ssessment of their needs before they are 18 and all children in care should be entitled to the supports that they need. I believe the law needs to be strengthened in this regard… and with advice from the Attorney General, I will be proposing legislative change later this year, in the bill to establish the Child and Family Support Agency.”

Discussions with the Minister’s staff indicate that the intention is to create two legal rights in the legislation. First, that there will be a legal right to a formal assessment of what support needs a young person in care will have as they move into adulthood. Second, support needs have been identified in this assessment must actually delivered in aftercare provision

This is a different approach than the straightforward change from ‘may provide aftercare’ to ‘shall provide aftercare’ which we proposed. However, depending upon the final wording of the legislation, this has the pot ential to provide a rigorous assurance to vulnerable young people.

Focus Ireland has welcomed the Minister’s announcement and the timeframe for it. We will closely monitor the wording of the proposed legislation to ensure it provides the assurances we have campaigned so long to achieve.

You may be interested in reading an article in today’s Irish Times which highlights Focus Ireland’s aftercare services and campaign.

You may be interested in supporting another issue we are currently campaigning on – the need to change the welfare rules which can trap young homeless people in emergency  accommodation. You can read more about that campaign here:

In the meantime I want to thank you for your support for the aftercare campaign, and we will keep you informed as it moves to what may be it s final stages.

Yours sincerely,

Mike Allen

Director of Advocacy

Group of economists urge No vote

Three economists have accused the Government of misleading people over the need for extra cuts and taxes in the event of a No vote in the fiscal treaty referendum.

Prof Terrence McDonough of NUI Galway insisted there would be “no disaster” in the event of the need for a second bailout. Prof McDonough argued recently in The Irish Times that the treaty made reform less, not more, likely.

“It is the adoption of the budget provisions of the treaty which is risky and dangerously experimental. Change is needed in Europe, but the fiscal treaty strategy is being adopted instead of these needed changes,” he said.

full article at source: http://www.irishtimes.com/newspaper/breaking/2012/0516/breaking37.html

A handy stick to beat us with

Just over four weeks ago, on 2 February, the Government signed a modification to an EU treaty that, according to Government ministers, contains a provision potentially very menacing to Irish interests.

No announcement was made of the signing of this modified treaty, no press release was issued (certainly none posted on the Department of Finance website) and no formal Dáil statement was made about this development, even though it had very considerable potential consequences for this country.

In answer to a Dáil question on 1 February and again on 14 February, Michael Noonan did acknowledge that the treaty in question was to be signed within a matter of days.

On the first occasion, he made reference to the provision that now threatens Ireland. But he did not then point out the menace.

The careful reticence of the Government on this is illustrated by the silence of the media on the matter. There is no reference to this modified treaty on the Irish Times website, nor on the Irish Independent website, nor the RTÉ website. The only reference I have come across to this in any of the newspapers is a brief piece by Pat Leahy, the political editor of the Sunday Business Post, on 5 February.

full article at source: http://politico.ie/irish-politics/8322-government-esm-treaty-amendment-stick-to-beat-us-with.html


This pitcure says it all  Arrogance and Incompetence

read my lips F*** O***

Just another example of total arrogance and incompetence from a career politician who hasn’t got a clue of the total devastation he is causing as he bends over and get rightly scre*** by the real financial sharks in Europe.(“Our Friends”)

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