There are at least 728 companies with an address at 5 Harbourmaster Place, Dublin 1, IFSC.
Above is an ad currently on daft.ie for office space on the 2nd floor of that building. Earlier this year Nama announced that it was allocating up to €2 billion to facilitate the construction of yet more office space in the IFSC area. Around 21 percent of all office space in the Dublin 1/2 area is unoccupied. Not only is there is no alternative, there is also no demand for space. The new construction has to do with creating new tax avoidance vehicles.
BTW, the list of companies in 5 Harbourmaster Place is here - http://www.slideshare.net/conormccabe/5-harbourmasterplacedec13
Dec 4th, 2013 by Ben
I’m starting to think about classes for activists for the new year - venue possibly Dublin city centre - and just based on the past twelve months these are some of the topics that I think might be of interest?
- basic research skills for activists (using the CSO/census/EU and government reports/newspapers and journals etc for research for dissemination)
- Ireland and the global financial system (tax havens and their function in modern finance / the indigenous professional classes who benefit from such practices /
The IFSC / Corporation tax / actual FDI into Ireland)
- Bonds, money markets, government debt and inflation (what it says on the tin)
- How to read the Financial Times (ditto)
These would all be separate classes, 8-10 weeks, with each class a 2-hr session.
I’ll flesh out the details of each class/module over the coming weeks.
Nov 29th, 2013 by Donagh
Solidarity Books is proud to host the Cork launch of the 2nd Edition of
Sins of the Father: The Decisions that Shaped the Irish Economy
On Thursday 5th December
The event will include a talk from Dr. Conor McCabe, the author of ‘Sins of the Father: The decisions that shaped the Irish economy‘, which analyses the development of the Irish economy throughout the 20th Century right up to the current crisis, without resorting to just pointing fingers at ‘a few morally bankrupt individuals’ in an otherwise sound system.
Sins of the Father: The decisions that shaped the Irish economy This is a new edition of Conor McCabe’s highly regarded economic history, fully updated to include the change of government, the austerity programme, and the liquidation of IBRC/Anglo and the impending exit from the bailout programme.
This new, 2nd edition, of Conor McCabes highly regarded economic history, is fully updated to include the change of government, the austerity programme, and the liquidation of IBRC/Anglo and the impending exit from the bailout programme.
Conor McCabe, who currently teaches at the UCD School of Social Justice, and is a regular contributor to Irish Left Review.
McCabe last visited Cork, and Solidarity Books, in February of this year, to launch “Irish Left Review” journal and to pose the question of ‘Who Benefits from Austerity?’ While popular disgust with TD’s, bankers and other elites’ privileges is rampant, austerity programmes are still justified on the basis that we all must pay for a crisis that we apparently all helped to create. What do we make of this state of affairs?
This will be Conor McCabe’s fourth visit to Solidarity Books in the last two years since the release of his book, and like the previous events, this promises to be an evening of animated discussion.
Entry is free and all are welcome, copies of the book will be for sale at the launch and donations towards the running of the non-profit bookshop are always appreciated.
Nov 25th, 2013 by Donagh
The following are a series of quotes from recent newspaper articles which show how ‘legal obstacles’ and the constitution are insurmountable barriers to bringing about change, until people try to use the same arguments to challenge the government. Then legal issues that the people’s argument are based upon melt away overnight.
Yet Alex White and Alan Shatter continue hiding behind the unpublished opinion of the current Attorney General – that such legislation would be unconstitutional. Publish the AG’s opinion – which is disputed by other legal experts and by the legal arguments of the Irish government in 2006 – including presumably, the AG of the time.
‘Any attempt to either stop or recoup controversial top-up allowances paid to senior staff in health agencies may run into legal obstacles, according to unpublished Government documents.’
‘THE GOVERNMENT HAS ADMITTED that it cannot bring in legislation which would abolish upward-only rent reviews in commercial leases – fearing that such legislation would be unconstitutional.’
‘It has also been suggested that the Irish guarantee should have only covered deposits. Former taoiseach Brian Cowen and the late Brian Lenihan argued that the then prevailing Irish law would not have allowed a differential treatment of depositors and senior bond holders, a view that has not been challenged by legal experts to date.’
On the unconstitutionality of the promissory notes
‘Mr Hall’s main claim is that under the Constitution the Dáil must authorise the State’s financial expenditure but that the Dáil never voted in favour of the promissory notes. As a result, he claims, the Minister for Finance did not have the power to issue the promissory notes.’
‘The High Court has dismissed a legal challenge to the Government’s use of promissory notes, ruling that businessman David Hall did not have the legal standing to take the case.’
‘THE SUPREME COURT will hear a Dublin businessman’s legal challenge to the Anglo Irish Bank promissory note this morning despite the passing of late night legislation aimed at avoiding the payment at the end of March.
David Hall is hoping to make a full appeal against the ruling by the High Court last week that he did not have the standing to challenge the legality of the €3.06 billion promissory note payment that is due at the end of next month.’
‘AT 7.11AM THIS morning the office of President Michael D Higgins confirmed that he had signed the Irish Bank Resolution Corporation Bill 2013 into law following an all-night session of the Dáil and Seanad.
The legislation halts all legal cases being taken against the IBRC however it – or NAMA as it will now be – can continue to pursue legal cases.’
‘On 20 February the Supreme Court refused five TDs’ application to join David Hall’s challenge to the legality of the promissory notes for the former Anglo Irish Bank and other financial institutions.
The Court held that the TDs had no basis to join the appeal. Mr Justice Nial Fennelly, who gave the judgment of the Court, noted that the TDs were just being joined to the case to solve Mr Hall’s standing problem and that their addition as appellants would add nothing to the strength of the legal arguments.’
Nov 25th, 2013 by Ben
A link to this video was left in a comment yesterday, happy to give it some coverage.
As we keep on saying, the blanket guarantee was about giving Anglo Irish Bank access to the short-term money markets - and now we have documents from HM Treasury pretty much confirming it.
Despite this, I know I’m going to have someone telling me it was the Germans wot done us…. anyways, from the Sunday Independent -
The documents reveal that the Financial Regulator tipped off Britain that Anglo might be “unable to roll €3bn [in funding] overnight,” but not to worry as if that happened the Central Bank or Government would step in to bail it out.
An internal email entitled ‘Iceland and Ireland’ and dated September 29, 2008, states that Britain’s Financial Service Authority was “most concerned about Anglo Irish”
Dr. John Barry, ‘Arguing for Post-Growth Economics’ - UCD School of Social Justice, 14 November 2013
Nov 18th, 2013 by Ben