Economy- Page 9

Right now in Ireland one in eight mortgages are in trouble. This represents 95,158 households which are in arrears or have already had their debt restructured. Of these mortgages in arrears 72% have been behind in payments for more than six months

With the prospect of a so-called double-dip recession looming in the world economy, pressure is once again mounting on the eurozone. The prospect of one or more countries opting out, or being forced out, of the eurozone is becoming increasingly real as

With hundreds of thousands of people in negative equity and struggling to pay their mortgages, the issue of revaluing peoples mortgages, or 'debt forgiveness' as the government have tried to brand it, has come up. Here Joe Higgins TD looks at the

Fear of recession in the US, its credit rating downgrade and political dysfunction, not to mention the ongoing eurozone crisis, Japanese stagnation and slowdown in China, have all led to convulsions on world stock markets. socialistparty.net reports.

As their system continues to slide into its worst crisis since the 1930s, the frantic efforts of world capitalist leaders to reverse the process are farcical, contradictory and ineffective. “Is anyone in control? Is this a runaway train?” asked a presenter on

Thursday, 4 August was a black day on world stock exchanges. In New York, the Dow Jones index fell by 4.3 per cent and the Nasdaq index closed down 5.3 per cent "and all the gains that have occurred since year end

The last-minute rescue package put together by eurozone leaders on 21 July has averted an immediate Greek debt crisis. A default by Greece would have triggered a European financial crisis, with world-wide repercussions. The package, however, merely eases the Greek government’s cash-flow

Socialist Party MEP Paul Murphy has dismissed Taoiseach Enda Kenny’s statement that the last minute deal struck in Berlin was “a good day for Ireland.” Instead, Mr Murphy said if the Taoiseach truly believed that, he had been taken for a ride.

Ireland's corporation tax rate of 12.5% is a subsidy worth billions enjoyed by multinationals and Irish big business.  Time again, the capitalist media and political establishment tell us that this is a sacred cow for the Irish economy and must be preserved

According to the Minister for Finance Michael Noonan the IMF and the EU are set to make €9 billion profit from Ireland’s bailout. Not content with heaping misery upon millions of working class people, the European Union mandarins want to make money