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Need to know
Bazooka getting bazookaier
In case you were in any doubt about the scale of the issues facing the eurozone, this week we got a number to put on it: €1 trillion. That’s how much the ECB’s anti-deflation cash pile will add up to after extra measures were announced this week.
We’re not in the depths of 2012, when the very survival of the bloc was being questioned. Back then, it took ‘Super’ Mario Draghi to step in and say he’d do ‘whatever it takes’ to save the euro.
That saw the wolves from the door, ironically without having to spend a penny (on top of all those bailouts, but hey, who’s counting?).
However, that’s not the case this time around. Contagion is one thing, deflation another. It’s acronym soup up in Frankfurt at the moment, but experts say between the TLTROs and the ABS buying, Draghi’s war chest now stands at about €1 trillion.
And that’s before we get into the QE.
It’s all designed to get banks lending again, increase the amount of cash in the eurozone, and generally encourage consumers to spend again.
Only time will tell if it will work, but most are agreed on one thing: Draghi isn’t done yet, and we’ll get a big injection of Quantitative Easing, like our cousins in the UK and US, before long if the wily Italian can find a way around German opposition.
Read up on what it means for us here.
Queues for houses…again
It seems we’re determined to party like it’s 2006 all over again. Scenes of people queueing up to bid on a new suburban development in Dublin sparked hand-wringing around the country, and property market experts say that prices are only going in one direction: up.
Is it a boom? Depends who you listen to. Booms are usually credit driven, and while the banks say that they are lending again (and this is born out in the figures), it’s not at the levels seen during the last days of the Celtic Tiger.
Booms also usually mean people buying as an investment – the assumption that prices will rise exponentially is usually part of the hysteria that emerges. Again, most observers say it’s people looking for a home not an investment who are buying now.
One thing’s for sure, it definitely feels a lot like it did during the boom. Right down to the faces of the builders involved…although their finances aren’t as healthy.
Nice to know
Nice to know
One for the road
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Its amazing how many words the author had to use to say the euro is finished because of the greed and theft of the banking classes ,the sad truth is that all this is planned to usher in the digital age of the cashless society.
and so to the red thumb brigade….lets have them
soon we’ll be chipped
Is there any way that the cashless society can be avoided.
Most money has been electronic for years, money you can tough is only a tiny tiny percentage.
the cashless society has the benefits of having to carry cash which is so heavy and awkward to put in your pocket ….the cashless society means that if I post something like Enda Kenny is a joke and should be removed from office the state can turn off my chip and starve me until I come to my senses and agree that Enda is the best leader I could wish for and can I kiss his feet
If we go to cashless society how will I ever find a tenner in my pockets after months of not wearing them and being pleasantly surprised??
Jaysus, the head on Noonan, looks like he’s chewing a wasp.
That’s a ‘charming’ foto.
He’s a sexy beast!
He’s in hustle mode!
Bring home the bacon Mick.
There are a lot of people in this country who fail to see Mr Noonans charm.
The Mc Coll family name springs to mind lest anybody forget.
paul can you expand the last comment Mc Coll ??
What are the benefits in using cash over a cashless society in the modern world.?
It is cumbersome, it is a a cost for businesses to use.
Meant to say what one can touch or feel is only a tiny % of the money in existence, has been that way for 20+ years.
The consumer is only catching up with the tiny bit that is not digital.
Look at the puss of Noonan… :-)
Charm is not a word I’d use to describe Mr. Noonday, he’d sour buttermilk anytime.
Michael noonan is just a figure head he could be moved to department of environment in the morning with no experience . That’s the way our political system works . The civil service dictate what happens not the politicians . Think about the way they move ministers from one department to another without any experience ???
Lads I have seen a house on how the howth (hoooow) road sell, which was subsequently pulled down and a nice fence put up around it for it only to be put on market again!!!! So let’s just wait for FG to reintroduce to tax beaks for holiday homes … Then we know Bertie had it right all along!!!
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