Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
EACH WEEKDAY EVENING,TheJournal.ie brings you five things you should know before you head out the door for the day.
1. #PRISONS: The cost of detaining a prisoner in Irish jails fell last year despite an increase in the number of people being jailed according to the Irish Prison Service’s annual report for 2011. The report showed 13,952 people were jailed last year and suggested that a significant proportion of people jailed during that time were repeat offenders who had already served jail time in 2011.
2. #STUDENT LOANS: Bank of Ireland has announced a loan scheme for postgraduate students which will see the bank pay their tuition fees directly for the duration of their studies. Repayments will be interest-only until three months after the student graduates with capital repayments thereafter at a variable annual interest rate of 10.8 per cent.
3. #VINB v DOB: A letter sent by Denis O’Brien to Vincent Browne in which he accuses Browne of ‘factual inaccuracies’ in an article and says it became an “all out attack on him” was published on Politico.ie today.In the letter O’Brien said if Browne continued to libel him in his TV programme or Irish Times column, he would be left with no other choice but to sue. Browne’s response concludes with a comment that through his journalistic career he has found that friendships are often compromised when friends assume powerful positions.
4. #DRINKING WATER: Homes and businesses in a north Dublin area have been advised not to drink their water until the results of bacterial testing show it is safe to do so. Samples so far have shown no presence of e-coli or metals such as lead. Three water tankers are providing the affected area with water today.
5. #QUINN: The President of the High Court was told today that the Quinn Insurance losses could surpass £1.6 billion , RTE reports. Head of insurance supervision at the Central Bank, Domhnall Cullinan, said the situation could worsen once the layers of the onion were peeled back.
To embed this post, copy the code below on your site
@ Patrico – my understanding of it is that Quinn Insurance was pretty much operating like a Ponzi scheme… the premiums were being used to pay off claims instead of coming out of a reserve fund. I believe that insurance companies are required to put a certain percentage of their income into a fund to be used to pay out in the case of claims – this was not done.
The money that was supposed to pay them was seemingly used to buy hotels, buildings and other investments. Now time has come to settle the debts… those claims, and future claims will need to be funded… that’s why they aren’t completely sure how much it will finally cost. We do know that it is currently costing Irish insurance customers an extra 2% levy on top of your existing insurance premium.
That’s my understanding of the whole affair – but I am by no means and expert – that’s my reading of all I’ve seen reported.
I can’t understand how the courts awarded 8 members of the Quinn family 30,000 euro per month for living expenses. That’s 3,750 each = 937.50 per week each .Try explaining this to someone on basic dole per week. Who says crime doesn’t pay. They are all criminals including the boss Sean Quinn who would have us all believe he did no wrong.The people who marched in support of Quinn should be bloody well ashamed of their actions .
Time to march in support of jailing the entire Quinn mafia. They don’t deserve anything else.
What’s the picture of the puppies to do with any of the stories? If you are going to mention people by name, put up their picture rather than something misleading. I don’t think i’m the only person that expected to fing a story about the lovely puppies in the picture or maybe its hidden somewhere else
Woof times ahead for Quinn Insurance
5 puppies “The 5 at 5″. Just a guess.
A sure it will be ok the tax payer will pick up the tab, Where are all the people that were on the streets last week supporting the Quinns good honest people the Quinns was what they said. 20 years in the jail for the lot of them golden circle or no golden circle a crowd of thieves
Can anyone provide a quick explainer as to why Quinn Insurance is going to cost that much?
*an expert* (I don’t really know what “and expert” is!) oops.
€360,000 per year, a wee small drop in the bucket compared to the Billions involved. Compared to the enormous divvy out that the new bank officials and legal teams are carving up between them, its laughable. Besides, aren’t those living funds being drawn down from their (Quinn’s) bank reserves,not from state coffers?
have your say