“The Central Bank explained yesterday said that the performance of the Irish commercial property market will ultimately determine the size of this loss.”
With headlines like “Ireland will stop being a low tax economy in the future, EU commissioner for economic and monetary Affairs, Olli Rehn said today”.
“Mr Rehn foretells an end to Ireland’s country’s status as a low tax base.”
And the according to the Central Bank the worst-case assumes that values of commercial property will fall to 35 per cent of the same peak and stay at that level for the next 10 years.
First of all the commercial property in Dublin is down already by 40% and with these latest noises coming from Europe about Ireland not going to stay a low tax economy will definitely have a bad effect on this segment of the property market.
With Europe now going to extract a price from us in order to bail us out of the hole Cowen and Lenihan has made for us job prospects have now got to be questioned and then all the kites been floated about the coming budget is it any wonder nothing in moving in the country
We should have a general election to clear the air, clear out the crooks currently infesting the Dail and bring the corrupt gangsters to the courts and start from the top down, cut all politicians salaries back to 60 to 70 thousand and no expenses without full recipes
Only when we the ordinary people see the so called leaders actually experiencing what the ordinary people are experiencing on a daily bases will we see a coming together of the people of Ireland and then we will get back on our feet again .