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  1. #1
    robut robut is offline

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    Irish Banks & nonperforming loans .. 3 times higher than Euro area average ( Fitch )

    https://www.irishtimes.com/business/...ding-1.3148445

    Fitch warned over the weekend that the high level of problem loans in the Republicís banks continue to weigh on the Stateís credit ratings, as Bank of Ireland completed a corporate restructuring designed to protect taxpayers in the event of a future crisis.

    However, the agency highlighted that the Irish banking system remains weaker than most countries, with non-performing loans of almost 15 per cent as of the end of last year. Thatís about three times the euro-area average.
    So PIE people .. Something of concern .. or Nothing to see here folks??
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  2. #2
    Watcher2 Watcher2 is offline

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    Quote Originally Posted by robut View Post
    https://www.irishtimes.com/business/...ding-1.3148445



    So PIE people .. Something of concern .. or Nothing to see here folks??
    Any one claiming this is not a concern need to be given a wide birth. It's deeply worrying.
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  3. #3
    ger12 ger12 is offline
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    Why are we three times the EU average? Think about it.
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  4. #4
    robut robut is offline

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    Quote Originally Posted by Watcher2 View Post
    Any one claiming this is not a concern need to be given a wide birth. It's deeply worrying.
    I only mentioned the no concern part .. sort of flippantly, because i am sure some here might try spin / explain this one away as .. nothing to see here, everything working within acceptable parameters ?
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  5. #5
    Catalpast Catalpast is offline
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    Quote Originally Posted by robut View Post
    https://www.irishtimes.com/business/...ding-1.3148445



    So PIE people .. Something of concern .. or Nothing to see here folks??
    The Fundamentals are sound....
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  6. #6
    Watcher2 Watcher2 is offline

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    Quote Originally Posted by Catalpast View Post
    The Fundamentals are sound....
    This time it's different. What for it. It will be spoken.
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  7. #7
    robut robut is offline

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    Fitch Affirms Ireland at 'A'; Outlook Stable

    These factors are balanced by

    - still elevated levels of public and private sector debt,

    - external vulnerabilities and downside risks, primarily related to external developments such as the potential impact of Brexit and shifts in global policies on corporate taxation.

    - Headline GDP and expenditure national accounts have been distorted since 2015 by the impact of the activities of multinational enterprises (MNEs), with the level of GDP boosted substantially by activities often unrelated to economic activity in Ireland (for example, the relocation of intangible assets by foreign firms and increases in contract manufacturing). This has the effect of flattering various credit indicators such as debt/GDP and GDP per capita.
    If you feel like reading through ALL of that ..
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  8. #8
    fat finger fat finger is offline
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    Nothing to worry about, the best is yet to come (Colemanballs 2005)
    Last edited by fat finger; 9th July 2017 at 10:15 PM.
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  9. #9
    FunkyBoogaloo FunkyBoogaloo is offline
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    I thought Enda Gummidge said he wouldn't have defaulter stamped on our forehead?...

    What are the effects of NPLs in such quantities on the banks, and the wider economy?

    Are there separate numbers for each of the Irish banks?
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  10. #10
    SideysGhost SideysGhost is offline

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    Quote Originally Posted by robut View Post
    https://www.irishtimes.com/business/...ding-1.3148445

    So PIE people .. Something of concern .. or Nothing to see here folks??
    They never actually cleaned up the mess from the last bubble, just put an artificial floor on property prices, gave all the developers extend-and-pretend low interest-only facilities, and did everything possible to reinflate property prices back to 2006 levels.

    When the next property bubble bursts there'll be billions from the Bertie Bubble still outstanding, on top of whatever dodgy debt has been racked up in the last 5 years.
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