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14/12/2011  |   a pedestrian in his 30s has been killed in a traffic incident in north Cork this afternoon. The man was fatally injured when he was struck

15/12/2011  |   one in eight calls to the Samaritans in the last 12 months was recession-related. The report also said 135,000 calls were silent or callers



Business News

15/21/2011  |   the executive board of the International Monetary Fund has agreed to release €3.9 billion in loans to Ireland after completing its review of it's

16/12/2011  |   the euro zone crisis could push Ireland off track in meeting its deficit targets and could prompt further harsh austerity measures, a new



World News

15/12/2011  |   the flag of American forces in Iraq has been lowered in Baghdad bringing nine years of US military operations in Iraq to the end.

15/12/2011  |   a French court has given J Chirac a two-year suspended prison sentence for diverting public funds and abusing public trust.



Sport News

16/12/2011  |   both teams Arsenal and Chelsea will head for Italy in first leg following this morning’s draw for the Round of 16 in the Champions League

14/12/2011  |   Following the finals draw in Kyiv on 2 December, ticket sales for supporters of the 16 national teams in UEFA EURO 2012 started today.



Culture News

15/12/2011  |   for the past couple of weeks I’ve been in possession of a 55in TV. Your sitting room becomes a TV with a small living space attached.

13/12/2011  |   Nothing could provide a more powerful visual contradiction of the old notion that the Vikings were an alien presence in

Consumer uncertainty sees Irish economy shrink 1.9%

Dublin ranks as the 26th best city in the world for quality of living
SANDRA JENSEN

The economy weakened considerably in the third quarter of the year, shrinking at the fastest rate in more than two years.

A rise in exports was not enough to keep momentum in the economy, with falling personal consumption and a significant decline in investment hampering the country.

According to initial estimates from the Central Statistics Office, gross domestic product fell by 1.9 per cent on a seasonally adjusted basis to almost €40.1 billion.The expectation had been for a 0.5 per cent drop over the quarter.

GNP, which excludes the repatriated profits of multinationals, declined at a faster pace, falling by 2.2 per cent compared with the second quarter of the year.

Personal consumption continued to fall, mirroring weak domestic demand in the economy stockbroker was not placing too much

Compared to the previous quarter, spending was 1.3 per cent lower. "Nervous consumers continue to maintain high levels of saving given uncertainty about future prospects," Davy chief economist Conall Mac Coille said.

Government expenditure was also weaker, falling by 1.3 per cent, while fixed investment declined by 20.9 per cent. NCB attributed tthe fall to a decline in machinery investment, particularly in aircraft.

Imports were 1.5 per cent lower over the quarter, with exports rising by 0.8 per cent. At constant prices the economy contracted by 0.1 per cent compared with a year earlier, while GNP declined by 4.2 per cent.

"Current policies are making recovery almost impossible," said Ictu's David Begg said. "No economy can sustain the sort of ongoing stockbroker was not placing too much damage that is being inflicted on us. The latest figures show, yet again, a big drop in domestic demand while

retailers warn of more closures in the new year. We need growth and weneed it quickly."

But NCB's chief economist Brian Devine said GDP figures were "extremely volatile" and as such, the stockbroker was not placing too much weight on a single quarter.

"The key message we have been trying to convey though remains intact - the economic backdrop in Ireland remains extremely challenging, unemployment is not going down any time soon and despite all the good work to date Ireland is facing at least another five austerity budgets," he said.

The commission said Ireland's fiscal performance had been on target so far this year, predicting a budget deficit for 2011 would be “well below” the 10.6 per cent of gross domestic product (GDP) required under the bailout programme. However, it said stockbroker was not placing too much that further progress was needed in this area.


Seán Quinn's wife ordered to repay the €3 million bank loan

PADDY MALONE

The wife of bankrupt businessman Seán Quinn has been ordered to repay more than €3 million to the Irish Bank Resolution Corporation, formerly Anglo,

after a judge ruled today she had no defence to the bank's claim. Mr Justice P Kelly rejected arguments by P Quinn that she was not obliged to repay the €3 million loan made jointly to herself and her husband   »»»     13/12/2011


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PETER MURTAGH

LOREM IPSUM dolor sit amet, consectetur adipisicing elit, sed eiusmod tempor quis incididunt ut labore et dolore magna aliqua. Ut enim

Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in Ut enim ad minim veniam, quis nostrud et exercitation   »»»     12/12/2011