Posts Tagged ‘economics’

THE ONLY WAY IS UP?

The OECD became the latest forecaster to raise its forecast for the Irish economy which it did last month as part of its twice-yearly Economic Outlook.

The latest projection from the Paris-based policy advice body envisages that the Irish economy will contract by 0.7% on average this year in GDP terms, much less than the 2.3% decline projected in its previous forecast round in November.  Moreover, its forecast for next year was revised up by even more.  The economy is now expected to grow by 3% in 2011, up considerably from the 1% it was pencilling in in November.

DEBT LAWS PREVENT INVESTMENT

Ireland’s archaic bankruptcy laws are acting as a disincentive to investment – so says Craig Barrett, the recently retired chairman of technology giant Intel. Speaking to the Sunday Times prior to the Engineers Ireland annual conference this week, he said that one of the key factors in reviving the Irish economy would be the growth of indigenous business.

The Envy of the World

What would you do if you find yourself in a business sector that is going down the pan? Get into one that isn’t, of course. Prominent estate agent Ken MacDonald and mortgage broker Frank Conway are about to launch a debt mediation service for troubled borrowers, The Sunday Business Post reports.

For an introductory fee of €495 and a flat fee of €45 a month Credecare, which is expected to advertise for staff this week, will act as an intermediary between creditors and debtors who find themselves in financial trouble.

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