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LAST UPDATE | 7 Jan 2021
MET ÉIREANN HAS extended its Low Temperature/Ice warning for the whole country with temperatures set to dip to as low as -4 tonight with ice forming on untreated surfaces.
The warning is in place from 5pm until 11am tomorrow.
Status Yellow - Low Temperature/Ice warning for Ireland. Valid: from 17:00 Thursday 07/01/2021 to 11:00 Friday 08/01/2021
— Met Éireann (@MetEireann) January 7, 2021
Issued: 11:00 Thursday 07/01/2021 pic.twitter.com/ZJZuSHtkgA
AA Roadwatch said this morning that the weather is affecting numerous routes around the country.
It includes:
AA Roadwatch urged motorists to take care, as it can take up to ten times longer to stop a vehicle in snow or ice.
Road users are being advised to reduce their speed, keep manoeuvres gentle and leave plenty of space between yourself and other road users.
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not much different to the credit union in its present form and the interest on deposits is near to 0% even in the main banks-But any kind of extra competition is welcome.
@TheBluffmaster2:
“Post Offices and Credit Unions could earn additional income…”
Looks like Sparkassen banking model could be rolled out in Ireland using above existing nationwide infrastructure. And competition issues should not arise as neither currently provide mortgage or business loan services.
Sandwiches and flask of tae essential for anyone in that particular Queue !
Well done to Willie Penrose and James “Boxer” Moran for efforts on this so far.
@TheBluffmaster2: this is NOT public banking (like credit union) and the way this banking works is as close to if not the same as bitcoin, beware the buzz and spin this year in MSM, it is 10th year since the crash and it is the same boom bust world economy! Invest at your own peril, this is as high risk as a gamble at paddypower.
@Matthew O’Kane: I live in Germany and bank with the Sparkasse Bank. The way this banking works is nothing like Bitcoin , in fact your statement that it is like Bitcoin show that you know zero about the Sparkasse model of banking. In reality it is a form of old fasioned conservative banking, it does not make huge profits which come with high risk speculation , but neither does it suffer when the times are bad. Please read about something before opening you mouth and confirming your ignorance of something.
They should follow the French bank model. Fixe mortgage rates of 2% for 25 years!
@Michael Legris: If it’s so great how come so few French people own their own homes?
@William Grogan: 60% homeowner in France. Is that so bad?
btw, Germany is around 50%. And to go further, my brother bought a house a few years ago at 1.75% over 20 years.
@Michael Legris:
Minister for Housing announced a Government funded affordable mortgages for those with gross salary of not more than €50,000 or couple on €75,000 at fixed interest rates of between 2-2.5% over 25-30 years.Iv an open mind about it at moment as just announced few hours ago&devil will be in details as they say but speaking objectively it sounds good for people with hose incomes.It is to be run by LAs.(note:it was the Gov that abolished the Affordable Housing Scheme during last Government!The problem with that scheme was there were alot of arrears so bit worried about proposed high costs of these ‘affordable’ houses! )
I wonder though about LAs&social housing for the 99,000+ on social housing lists & those in “offical homelessness & 54% workers earning €30,000& under.At moment re income thresholds there are 3 bands max set at €25,000,€30,000&€35,000(gross salary of €48,000)I wonder now will the latter income threshold re social housing be changed or abolished.
@Michael Legris: 65% at latest figures. 67 in Ireland. At any rate, I’d take 2% for 25 years with their arm n all. Would save me a minimum of 55k of 30 years.
@Nuala Mc Namara: just seen this. Great news indeed. Pity it’s only for first time buyer.
A few backhanders from the banks to the bureaucrats will scupper this one fairly quickly, last thing they want is competition. The worrying point here is that Penrose is afraid of dept of finance, who the hell do they answer to.
@zippo: I hope willie respectfully rejects any brown envelope.
@zippo: this will not be scuppered, its the same crowd with a different face, these guys are similar to the german predatory lenders, lending to the defaulting high flyers in Ireland. No more bailouts with tax payers money! , this is NOT public banking (like credit union) and the way this banking works is as close to if not the same as bitcoin, beware the buzz and spin this year in MSM, it is 10th year since the crash and it is the same boom bust world economy! Invest at your own peril, this is as high risk as a gamble at paddypower.
It’s a great idea and not like what went before. It would stop the current mortgage interest rate gouging.
It would also be good if we could access other EU banks for low rate mortgages.
@James Gorman: Would you also like the repossession rules of these other EU countries?
@Mary Murphy: yes Mary I would be happy to accept them to pay 1.5% on a mortgage instead of 3.5%.
@James Gorman: and how much do you know about the rules you would accept? Which EU county has the quickest repossession? Tell me how many payments you can miss in Spain before your house is repossessed pretty much automatically? Or what is the automatic penalty if you want stop the repossession? Don’t bother Googling you won’t find the answers. I Sponsored a student for their dissertation to find this out as I wanted to open a business taking deposits in one country and lending in another country. Be careful what you wish for as the answers might surprise you.
@Mary Murphy: well obviously if I had the opportunity to switch to a mortgage in another EU country I would be studying the small print.
@James Gorman: not just the small print but also the laws underlying the small print. It is very easy to look at the interest rate and say I want some if that but the reality is that lower interest rate comes at a big price under the surface. I would also recommend you read about people who took our mortgages in swiss francs (mostly in Hungary and Poland) to see what happened.
we had this before….they were called building societies. Then the owners (the members….you and I) go too greedy and sold them to take the profit.
@Mary Murphy: Greed is good, the problem are people. Society would work great without them..
The Dept. of Finance and the Central Bank will probably try to scupper any competition to the bigger banks. They have trampled all over the credit unions since the crash to drive money away from them and into the institutional banks. They are all talk about competition but their actions say otherwise.
The Sparkassen certainly used to pay interest on deposits, and there is nothing in the business model from stopping them doing so again if rates rise perceptibly in the future.
Watch how the Banks start to lobby this out of existence, and our politicians run for cover using the Central Bank of Ireland as their shield.
@DeFonz: yes and watch what happens to pensions if banks share price fall.
@Mary Murphy: but can they fall much more-are they not in the junk status category already.
@TheBluffmaster2: if they can’t fall then you should be borrowing every penny you can and buying them…..does that answer your question as to whether they can’t fall ?
@Mary Murphy: Mary i wouldn’t buy them if u paid me.
Dear Europe, I would like to avail of car insurance, on the single European market. Regards European citizen.
Ill admit I didnt read the article straight up. i just got a smack of the return if the mobile bank in a caravan. Where it will be just like todays branch. You get to discuss your business infront of and within hearing distance of everyone in the queue.
Anything that puts a nail in the banks is welcome.
My only concern would be that they would put the Credit Unions out of business
If FG want this then one has to wonder which one of their buddies will benefit, FG do nothing for the common good
@Bart: bang on there, notice how we were never offered a referendum on the ownership of our water supply. Reason = its ownership is still up for grabs.
Very welcome arrangement. The EU should also expedite actions on implementing the common market status to actually mean common market. We have a common market that doesn’t allow a polish insurer to poach for customers in Ireland and that is hardly common in a sense. Recently, an American investor in Ireland have an insight into the price fixing cartel in the building materials industry sector here that pushes up the prices of homes.
It works well in Germany. Here we wouldn’t even get a chance to make a balls of it as it would be strangled at birth.
Municipally owned and regionally based banks, and some of them operated by post offices – that sounds like practical thinking for promoting community life in the counties, the regions and the provinces. The credit unions and the post offices need to be brought into this radical decentralisation of national finances. Their experience and grassroots savoir faire will boost the new departure.
Sorry…meant to say well done to Minister Michael Ring
That’s right, give the government more access to our money!
Where’s Wally to slap this down??
Sparkassen like bank in Ireland lol , I live in Germany believe me you don’t want it , they are like something out of the 1950s the staff think that they are gods no visa debit or MasterCard debit just an EC card bit like the laser cards back in the 90s ´.
@Darren B Link: Easy credit isn’t always the best way to borrow money. You can get credit cards from any bank, you know.
@Darren B Link: I am with the Sparkasse and I have a Mastercard , so does everyone else I know who banks with them….
What… A “not for profit” solution, the ‘that is socialist’ fanboys must be foaming at the bit.
Sounds good whats the catch ?
have your say