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Thursday, February 9, 2012

Today's Paper - Ann Cahill

European farmers warned of virus affecting sheep, cattle and goats

Farmers have been warned to be on the look-out for a new virus affecting mainly sheep, but also cattle and goats across Europe.

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Eurozone ministers set to finalise bailout details

Eurozone finance ministers will meet in Brussels this evening, when they expect to finalise details for a second bailout for Greece together with cuts on bondholders that will trigger a temporary selective default.

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EU: Education cuts undermine potential

Cuts in education budgets risk undermining the economy’s growth potential, the EU has warned Ireland as the country moves closer to the bottom of the international league table in spending on schools.

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Athens edges closer to deal on austerity measures

Greek prime minister Lucas Papademos was yesterday shuttling over and back between the troika, the creditor banks and political party leaders desperately trying to conclude a deal on new austerity measures.

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Irish SMEs ‘must strive to become innovation leaders’

Ireland received a clear warning that it must spend more on research and its SMEs must be much more progressive if it is to create the kind of jobs and growth needed to emerge from the crisis.

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Study backs financial transaction tax

Ireland’s case for refusing to support a financial transactions tax unless it was global has been undermined by a study from two eminent economists presented to the European Parliament.

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Fears for eurozone heighten as Greek deadline looms

Tensions increased across the eurozone and globally as negotiations on Greek debt and cutbacks reached a critical point, amid fears that the country could default.

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Ryanair and the volcano

Denise McDonagh could become the flyers’ best friend after this week’s hearing in the European Court of Justice.

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SMEs secure over 20% of Ireland’s EU research funds

Irish SMEs have secured more than 20% of the EU’s research funding going to the country, making them the fourth most successful in the union so far.

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China considers taking part in European rescue funds

China is considering increasing its participation in the rescue funds aimed at resolving the European debt crisis.

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Ireland to target €1bn from EU research fund

Ireland will target winning at least €1 billion for scientific research from the EU’s fund, and a conference to launch the bid will be held in Brussels next year.

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Referendum less likely as treaty finalised

There appeared to be just one row on the horizon as final adjustments were being made to the eurozone’s fiscal treaty before it goes to EU leaders on Monday.

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Web users to get ‘right to be forgotten’

People will have the right to remove and change information on the internet as part of a complete overhaul of data protection and privacy rules.

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Noonan says no to EU tax fast-track

Finance Minister Michael Noonan has appealed for the EU to slow down the process of putting a financial transaction tax in place, saying he was not willing to participate if the legislation was pushed through on a fast-track basis.

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EU demands reforms from Athens before second bailout

As Athens is caught in the middle of a game of brinkmanship with its creditors, the EU warned they wanted new reforms even before they sign up to the second bailout and its austerity programme.

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Noonan seeks cuts to Anglo payment

Finance Minister Michael Noonan has intensified his campaign to cut the cost of repaying Anglo’s debts on the day the state handed over €1.2 billion to investors.

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One too many sob stories threaten to turn the troika native

Is the troika going soft? Are some of its members going native?

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Praying for success

The latest EU treaty is meant to stabilise the eurozone and ensure greater fiscal obedience but it can’t solve all ills, writes Europe Correspondent Ann Cahill

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€150m fine if Ireland fails to ban deficits

IRELAND will face fines of about €150 million if it fails to implement a law banning government deficits under the new draft treaty to be discussed by finance ministers in Brussels on Monday.

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Troika asks: Where is the austerity?

GREATER efforts should be made to help the vulnerable and unemployed, according to a member of the troika, who appealed for hard evidence of the effects of the austerity programme on people.

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Company tax ‘under pressure’

IRELAND’S company tax system will come under renewed pressure from France and Germany at the EU summit later this month.

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Ireland may accept ban on EU aid for non-treaty countries

THE Government could accept a ban on Ireland and other eurozone countries accessing the EU’s aid fund if they do not adopt the new treaty, according to Finance Minister Michael Noonan.

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Noonan bid to fend off referendum on deficits

FINANCE Minister Michael Noonan travels to Berlin today to convince his German counterpart not to force a referendum on Ireland.

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Childers in row over Labour group

THE resignation of MEP Proinsias De Rossa has led to a row over how his successor as Labour delegation leader should be chosen.

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Treaty draft would leave Ireland out in the cold

NEGOTIATIONS on the new fiscal treaty makes one wonder if Germany has a death wish for the euro, or at least for some of the eurozone countries.

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S&P strips France and Austria of prized AAA ratings

TWO of the eurozone’s six triple A-rated countries, France and Austria, were downgraded from AAA to AA last night by credit ratings agency Standard and Poor’s.

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Twice EU level of pensioners at work

IRELAND has double the number of pensioners at work as other EU countries, and most favour people being allowed to work for as long as they wish after they reach the official retirement age.

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Age just one factor in how old you feel

BEING young is not as much a matter of age, how you look or how you feel as much as where you live, according to a Eurobarometer survey.

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Billion-euro counterfeit pesticide trade puts lives in danger

THE trade in counterfeit pesticides is booming and is expected to reach an all-time high worth billions of euro over the coming weeks as farmers prepare to plant crops, Europol has warned.

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Caution despite bond sale success

SPAIN and Italy exceeded expectations in raising short-term money in abundance and at much reduced rates on the markets.

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European institutions threaten to reject treaty on members’ finances

THE battle to devise an EU treaty governing member states’ finances faces a new hurdle with both the European Commission and the European Parliament threatening to reject it unless they have a role.

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Rumour of second bailout ‘not helpful’, says EC

TALK about a second programme or bailout for Ireland is not helpful, the European Commission has said following media speculation about the issue.

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MEPs push for eurobonds, joint debt issue and taxes

MEMBERS of theEuropean Parliament are pushing for a commitment to create eurobonds, joint debt issuance and a financial transaction tax, as part of the price for the proposed EU treaty enforcing strict government budgets.

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EU drive to find youth a job or course

ONE-IN-FIVE young Irish people aged 15 to 25 years are not in work, education or training, the third highest proportion in the EU.

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Ireland’s €32.4bn trade surplus third highest in EU

IRELAND had the third highest trade surplus in the EU for the first nine months of the year at €32.4 billion — worth a third of the value of the Germany surplus.

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Bank bailout to yield just €30bn return

TAXPAYERS and shareholders lost more than €127 billion in Irish banks in little more than two years and, at best, the state can hope to get back €30bn.

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Irish consumers still paying higher prices

IRISH consumers are still paying a fifth more than their average EU counterpart for goods and services despite the country’s GDP having fallen by more than 13% in the past three years.

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Claims of intimidation as Cardiff secures job

THE secretary general of the Department of Finance, Kevin Cardiff was cleared to become a member of the EU Court of Auditors by the European Parliament amid claims of political abuse and intimidation by some MEPs.

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Cost of borrowing could shoot up amid rating woes

THE cost of Ireland’s borrowing could shoot up early next year as the credit rating of the eurozone countries as a whole and the bailout fund we are reliant on are threatened with credit downgrades.

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Commissioner warns of 2012 recession

A RECESSION is now very likely in the EU next year, and the outcome of last week’s summit is unlikely to change this, according to Laszlo Andor, Commissioner for Employment, Social Affairs and Inclusion.

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Stringent EU budget rules come into force

STRINGENT and comprehensive new budget rules for EU governments backed up with tough penalties come into force today and are similar to what the new inter-governmental fiscal compact aims to reinforce.

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Q&A

All EU states except Britain moved toward setting up a new treaty yesterday, giving up crucial powers over their own budgets in an attempt to overcome a crippling debt crisis.

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British veto opens up door to two-speed EU

BRITAIN opened up the possibility of a two-speed EU with its decision to veto treaty change, isolating itself from the rest of the member states.

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Drafting of treaty will attempt to avoid referendum

EU member states’ lawyers will immediately begin work on a new treaty with an eye to ensuring it does not trigger a referendum in any country.

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Croatia to join the EU in 2013

CROATIA has signed a treaty to join the EU in 2013, a bittersweet milestone as the bloc prepared to take on a sluggish economy it will have to drag along at the time of its worst crisis.

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EU set for final bid to save euro

THE EU stage is set for at least 12 hours of tough negotiations in what many see as a final bid to rescue the euro and which will again see Ireland fighting to retain its corporation tax policy.

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EU investigates possible cartel in sale of e-books

READERS may be paying double what an ebook really costs every time they download one online, due to an arrangement between five of the world’s major publishers and Apple.

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EU retraining grant scheme to end

UP to 1,250 Aviva workers facing redundancy will lose out on retraining grants from the EU while money for TalkTalk employees hangs in the balance.

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Draghi signals his approval for move towards fiscal union

ECB President Mario Draghi gave an important signal that he approves of the direction being taken by eurozone governments towards a fiscal union and possible eurobonds, creating optimism that the ECB will step in with its massive support.

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Banks take first steps towards saving euro

IN A co-ordinated move, the world’s major banks yesterday provided cheap dollar funding for Europe’s banks in what is seen as a first major step to save the single currency.

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An out-of-court system is planned for shoppers.

CONSUMERS are losing over €22 billion a year buying faulty goods for which they cannot get replacements or their money refunded.

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Latest bailout tranche gets approval as crisis mounts

IRELAND’S next bailout tranche of €8.5 billion was approved by eurozone finance ministers yesterday as they struggled to find a way to fund Spain and Italy, both under massive pressure from the markets.

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Cardiff’s fate in the hands of parliament

THE nomination of Kevin Cardiff to the European Court of Auditors looks certain to be decided by a full sitting of the European Parliament in three weeks’ time.

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Fiasco could cost Government valuable political capital

THE debacle of Kevin Cardiff’s rejection for the Court of Auditors leaves the Government with a series of options, each one more messy than the other and in danger of re-opening the debate in Europe on the country’s handling of the financial crisis.

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Germans and Dutch dismiss proposals

AFFORDABLE borrowing from the markets in exchange for a strictly enforced set of rules on national budgets will give eurozone countries the kinds of benefits the US Treasury has today, European Commission president Jose Barroso promised.

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Parliament could still approve Cardiff for court

KEVIN CARDIFF may still be approved as a nominee to the European Court of Auditors.<

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EU to continue fight as just 1% of bogs left

THERE is now less than 1% of living bog left in the country and despite it being protected, the decimation continues, the European Parliament was told.

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Pressure on Germany to back bonds

PRESSURE mounted on Germany yesterday to agree to a measure that would help rescue the eurozone from the crisis threatening to engulf the entire currency.

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Plan to suspend ratings is delayed

NEW rules to ensure greater transparency in the ways credit rating agencies work have been agreed by the European Commission — but proposals to suspend ratings for countries in debt programmes, such as Ireland, were taken off the table.

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Government open to EU treaty changes

THE Government is willing to consider much greater changes to the EU treaties than just tighter budgetary control, European Minister Lucinda Creighton has said.

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Full-body scanners must conform to EU privacy rules

THE full-body scanner that performs a virtual strip search principally at airports will have to conform to a series of rules aimed at addressing privacy fears.

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EU to appoint Horn of Africa envoy

THE EU is appointing a special representative for the Horn of Africa, focusing firstly on Somalia, the country plagued by famine and war.

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Fire-safety cigarettes mandatory next month

DESPITE their name, RIP cigarettes are designed to save lives.

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Kenny needs to capitalise on Ireland’s ‘model behaviour’

TAOISEACH Enda Kenny this week has an opportunity to turn his famed ability to connect with ordinary citizens to connect with the country most likely to decide our future — Germany.

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Markets calmed by political stability

THE prospect of technocrat-led governments in both Greece and Italy calmed markets but volatility is expected to return next week as both regimes attempt to push through austerity measures.

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Tough forecast a wake-up call, warns Rehn

THE EU economy is moving into dangerous territory with growth slowing to stagnation and a new recession looming large, according to the latest forecast.

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Outgoing EU auditor says Cardiff is ‘credible’

KEVIN CARDIFF, the Government’s controversial nomination to the European Court of Auditors, has been described as a very credible appointment by the outgoing Irish auditor, Eoin O’Shea.

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EU ‘misplaces’ €5.7bn

AUDITORS discovered there was €5.7 billion missing from the EU’s accounts in what was described as a “significant error” by Ireland’s outgoing member of the court of auditors.

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Talks ongoing on how to cut Anglo wind-up cost

TECHNICAL discussions are ongoing with the European Commission and the European Central Bank to explore ways of reducing the cost of winding up Anglo Irish Bank.

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Rescue fund struggles to raise €3bn for Ireland

THE euro crisis intensified last night as the EU’s rescue fund found it difficult to raise €3bn on the markets for Ireland and had to pay its highest rate so far for the money — the cost of which will be passed on to Ireland.

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Barroso says all available powers must be used

EU GOVERNMENTS should not rely on treaty change to help save the euro, European Commission President Jose Manuel Barroso warned in Brussels last night.

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FACING MELTDOWN

ALL eyes will be on Athens this evening as politicians warn that the future of the country is at stake and the health of other eurozone countries is in danger.

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FACING MELTDOWN

ALL eyes will be on Athens this evening as politicians warn that the future of the country is at stake and the health of other eurozone countries is in danger.

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Eurozone withdrawal remains a possibility

THE prospect of Greece leaving the eurozone is still on the table, despite an expected vote by the Athens parliament to accept the austerity measures attached to its second bailout loan.

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Ireland in line for high-speed broadband funding under European scheme

A SCHEME to make millions of euro available for nationwide high-speed broadband, cheap green energy and fast transport links to the centre of Europe has been welcome by the Government as a vital step toward creating growth and jobs.

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EU plan to cut some fish quotas ‘perverse’

FISHERMEN have criticised as “perverse” plans to reduce the amount of some fish they can catch next year, under European Commission proposals that would shut the cod fisheries in the Irish Sea.

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Wheeling and dealing offers something for everyone

THERE was something for everyone, with a little more for the banks and less for the taxpayer, in the deal that emerged from the 10 hours of negotiations by eurozone leaders at the euro summit on Thursday.

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Lenders follow EU lead to cut rate on Irish loan

THE cost of Ireland’s bailout will be cut by over €1 billion a year as other lenders have indicated they will follow the EU’s lead and reduce the interest rate on the entire €67bn loan.

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AIB and EBS get approval for aid

THE European Commission has approved state aid of up to €13.1 billion for the merged Allied Irish Bank and Educational Building Society to ensure it is sufficiently capitalised to meet stress test requirements.

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EU plans to get tough on mobile roaming charges

MOBILE phone operators who charge customers three times more for their calls when abroad are facing a raft of new rules to force them to drop their prices.

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Domestic workers exploited, says EU

THE hidden scandal of how Irish employers take advantage of foreign domestic workers without work permits has been exposed by an EU study.

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IBEC heads for Europe in bid to dismantle JLC structure

EMPLOYERS are pushing to dismantle the structure that regulates overtime and Sunday working for lower-paid workers in the catering, hotel and construction industry.

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More than half of prisons in EU are overcrowded

PRISONS are overcrowded in more than half the EU, including Ireland, while a quarter of prisoners are awaiting trial and more than half in some countries are foreign nationals.

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Ireland to maintain development aid target

IRELAND intends to maintain the target of contributing 0.7% of gross national product for development aid by 2015, despite the economic crisis, Jan O’Sullivan, Minister of State for Trade and Development, said.

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Ireland ‘committed’ to securing bailout cut

IRELAND’S focus remains firmly on getting a cut in the interest rate on its bailout, Finance Minister Michael Noonan said as eurozone ministers agreed the details of a €78 billion loan for Portugal at a lower rate of interest.

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Vital Greek bailout talks clouded by detention of IMF chief

GREECE began negotiations to boost its bailout with fellow eurozone finance ministers in Brussels last night clouded by the arrest of IMF head Dominique Strauss-Kahn in New York on charges of attempted rape.

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Portugal gives green light to €78bn EU/IMF bailout

PORTUGAL’S outgoing government and opposition parties appear to have accepted the terms of a €78 billion EU/IMF bailout which is likely to come at a lower interest rate than Ireland’s.

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EU to review migration policy as immigration increases

EU member states that do not protect their external borders effectively against illegal migrants could find themselves temporarily cut off from the Union under proposals from the European Commission.

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EU ‘shocked’ at Ireland’s crisis

INDIVIDUAL European Commissioners have been shocked to learn the price ordinary Irish people are paying for the crisis, Ireland’s Commissioner Máire Geoghegan-Quinn has said.

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Well done, Ireland, but now the heavy lifting must begin

THE troika made its first three-monthly report saying “well done, Ireland” and releasing the next tranche of the bailout loan, but made it quite clear now that the decisions had been made, the heavy lifting would have to begin.

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The Spanish housing dream that turned into a nightmare

Europe Correspondent Ann Cahill looks at the case of one Irishwoman fighting for thousands of homeowners.

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Docklands plan will destroy ‘forgotten paradise’, MEPs told

A “FORGOTTEN PARADISE” was being destroyed by the multi-billion plans to turn the Ringsend, Irishtown and Sandymount area into a “new Manhattan”, solicitor Damien Cassidy told members of the European Parliament.

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MEPs vote in favour of infant formula firms

MEPs voted against the advice of the World Health Organisation, the EU Food Safety Authority and health and consumer bodies to allow food companies boast of the effects of adding a synthetic fatty acid to infant formula.

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EU rules attacked as McCreevy joins bank

EU rules on forbidding former European commissioners from taking up jobs that may pose a conflict of interest have come in for fresh criticism after Charlie McCreevy joined the board of a unit of a US bank, Bank of New York Mellon.

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MEPs: Controls on Japan food imports may not be enough

TIGHTER controls on food coming from Japan are being put in place by the EU but some MEPs have warned they may not be enough to protect people from the dangers of radiation contamination.

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Bailout rate cut delayed by a month

IRELAND will almost certainly have to wait at least another month before getting a cut in the interest rate it pays on its EU/IMF loan, according to EU and government sources.

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Stalemate as Europe fails to agree cloning controls

MEAT and milk from cloned animals can continue to be sold and does not need to be labelled after member states and the European Parliament failed to agree new controls.

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Warning from EC on changes to aid package

THE new Government got advance warning from the European Commission last night that it cannot change the goalposts of the agreement for the€67 billion EU-IMF loan.

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MEPs want impact of South American trade deal on farmers to be analysed

THE European Parliament has supported a demand by Irish farmers to produce an analysis on how meat imports from Latin America would affect European farmers and the beef industry in particular.

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Plan to link wages across EU states

PROPOSALS that would see wage increases linked to productivity and to incomes of other trading partners are expected to land on the desks of the EU’s 27 prime ministers over the weekend.

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State faces fine over environment failures

THE Government’s action in taking the side of landowners and vested interests in planning legislation could cost the country several million euro in fines, warned An Taisce.

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EU changes tack in bid to strengthen hand in negotiations with Aeroflot

THE European Commission has decided to put pressure on member states in a bid to ease the headaches Russia and its monopoly airline Aeroflot are causing Europe’s airlines.

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Spain’s stolen babies scandal is another dark legacy of Franco

THOUSANDS of babies disappeared over a 40-year period in Spain, stolen from their mothers and handed over for adoption by the state and the Catholic Church.

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Bad timing to hamper interest rate talks

VITAL decisions about Ireland’s debt, including lowering the interest rate on the EU/IMF loans, will be taken over the next few weeks — at the worst possible time for the country.

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Euro crisis plan to harmonise taxes and raise pension age to 75

RAISING the pension age to the mid-70s and harmonising taxes across the EU are expected to be part of a joint German-French plan towards solving the euro area’s crisis to be put to EU leaders when they meet tomorrow in Brussels.

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Leaders rebuked for silence on human rights abuses

TOO many governments, including members of the EU, are not standing up against abusive leaders and insisting they respect human rights the international organisation, Human Rights Watch, said in its annual report.

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Boost for hopes to reduce bailout rate

IRELAND’S campaign to have the EU reduce the interest rate it charges for the €67.5 billion emergency aid received a boost last night after finance ministers met in Brussels to overhaul the loan facility.

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Bailout ‘might have been avoided’

AIB passed its stress test last year when the Government underestimated the discount NAMA would apply to its loans, according to European Competition Commissioner Joaquin Almunia.

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EU ministers split on recognising state of Palestine

EU foreign ministers were split over a proposal to recognise an independent Palestinian state at their meeting last night, and did not agree to sanctions against Israel for failing to extend the moratorium on settlements.

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Minister denies ignoring evidence ahead of fishing talks

FISHERIES Minister Sean Connick has denied Ireland ignores the scientific evidence in favour of increasing fish stocks available to the Irish fleet.

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Fishermen begin quota battle in Brussels

IRELAND’S small island and inland fishermen are siding with the European Commission and environmentalists against the Government and the big fishing interests at the annual battle for fish quota.

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Only way forward for EU may be to go back to the beginning

WE have been through another week of absurd politics in the European Union, and who knows what the leaders summit on Thursday and Friday will bring.

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Food chain under threat over mystery honey bee deaths

HONEY bees are dying off in many parts of the world, threatening the production of many foods and flowers, but nobody knows why.

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EU to sign Irish loan deal before Christmas

THE EU will sign the loan agreement with Ireland before Christmas and be ready to raise the bailout money in the new year, the head of the European Financial Stability Fund announced following last night’s eurozone finance ministers meeting in Brussels.

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EU-wide phone numbers for companies proposed

BUSINESSES with branches in different EU member states could have the same telephone number for customer support under a suggestion floated by the European Commission.

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Ireland will be allowed to retain corporation tax rate

IRELAND will be allowed to retain its 12.5% corporation tax rate, but is under pressure in bailout talks to give fewer tax breaks to foreign multinationals, say EU sources.

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CAP reform document’s three options

THE European Commission document on reforming the €55 billion Common Agricultural Policy outlines three options, ranging from a gradual change from the present system to a radical overhaul that would phase out direct payments in their current form.

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Banking sector still needs total overhaul

DESPITE two years of restructuring and up to €50 billion of taxpayers’ money, there is growing consensus the country’s banking system is still in need of a complete overhaul.

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Bailout trio due in Dublin to assess banks

IRELAND moved closer to accepting an EU-IMF bail out last night as a team from the IMF, the ECB and the European Commission arrives in Dublin later this week to assess the condition of the Irish banks.

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Rehn to talk tax reform with Lenihan

A NEW tax regime will be among the issues EU Economics Commissioner Olli Rehn and Finance Minister Brian Lenihan will discuss when they meet this evening in Dublin.

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Berlusconi, bunga bunga and the surreal world of Italian politics

“BUNGA bunga” was the most popular phrase being used at the EU leaders’ summit last week.

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In gambling, hairdressers and the lotto we trust

WE have more trust in gambling, hairdressers and the lottery than we do in bankers, pension advisors or estate agents.

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Lisbon under scrutiny as Germany demands changes

LEGAL experts are examining the Lisbon Treaty to see if it is possible to make the changes Germany wants without holding a referendum.

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Business bodies back pay move

BUSINESSES should have their bills paid by national authorities and other businesses within 30 days under new rules agreed by the European Parliament.

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Commission plans to save taxpayer from other bailouts

A PLAN to ensure taxpayers would never again have to bail out banks has been put forward by the European Commission.

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Proposals for twenty weeks’ paid maternity

NEW mothers would be entitled to 20 weeks’ maternity leave on full pay and fathers would have two weeks’ paid leave under proposals passed by the European Parliament.

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Ireland faces future fines under EU budget rules

IRELAND and other eurozone countries will be fined in future for breaking budget rules, but the country is also facing a possible referendum as France and Germany say they want even stiffer penalties.

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New EU rules to guide economy

NEW EU rules that will closely guide eurozone governments’ management of their economies were agreed by finance ministers in Luxembourg last night.

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Think-in on social exclusion – with only 10% women

FREEMASONS from Grand Lodges and Grand Orients of eight countries came together for what was described as “an unique gathering in the world” by EU president Herman Van Rompuy.

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EC may curb business activities of EBS

THE EBS Building Society may be asked to curtail its business activities as part of its restructuring plans to justify keeping the €875 million it received from the state.

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Financial crisis brings gloom but Irish among happiest in EU

THE economic crisis is taking its toll on Irish people with fewer feeling happy compared with four years ago.

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EU’s brave stand on press ban should be observed worldwide

THE prime minister of the country fast becoming the new master of the universe, China, called off his joint press conference with the EU in Brussels during the week, when they refused to ban a number of journalists from attending.

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Levy could raise up to €25bn from ‘under-taxed’ EU banks

BANKS are under-taxed in the EU, but new proposals to levy their activities could raise as much as €25 billion a year, the European Commission says.

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McCreevy resigns from board of British bank

FORMER EU Commissioner Charlie McCreevy has resigned from the board of a fledgling British bank after being told it would conflict with his old role in Brussels.

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EU probe appointment of McCreevy to bank board

FORMER Finance Minister Charlie McCreevy’s new career as a banker is being investigated by the European Commission to see if it is conflicts with his previous job in Brussels.

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Cowen has not ruled out revisiting Croke Park deal

TAOISEACH Brian Cowen has not ruled out revisiting the Croke Park agreement, but he indicated that he will wait and see if the deal yields the kind of public sector savings he needs before revisiting it.

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Time for creative Irish solution to corporation tax threat

THE battle lines have been drawn.

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Bailout ‘should cost Ireland double corporation tax’

GERMAN MEPs stepped up the pressure on Ireland over its corporation tax rate insisting that it would have to double if the country needed a bailout.

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Mackerel quotas under threat due to over-fishing by some countries

QUOTAS for the country’s most valuable fish, mackerel, could be facing cuts next year instead of being increased because of the actions of Iceland and the Faroe islands.

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Trichet: Ireland is moving towards competitiveness

IRELAND has taken the necessary steps towards regaining competitiveness on its labour costs, ECB president, Jean-Claude Trichet, told the European Parliament in what came close to a vote of confidence in the Government.

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Italy and France object to GM plan

AN elaborate plan to break the stalemate in the EU over GM foods hit more problems when France and Italy came out against it.

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Sighs of relief from Brussels

THERE were sighs of relief in Brussels at the news that Ireland succeeded in selling €1.5 billion of bonds as it reduced the likelihood the country would call on the EU-IMF rescue fund and stressing the euro.

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No intent to expel Roma, says Merkel

GERMAN ChancellorAngela Merkel has been forced to deny she intends expelling Roma after she has been dragged into the row over France deporting Roma.

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Three Irish nominees selected to head EU embassies

THREE Irish people have been selected to head EU embassies while another Irish candidate is widely expected to be appointed to manage the administration of the new European External Action Service.

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Market tensions ‘pushing up the cost of borrowing’

FINANCIAL market tensions that are pushing up the cost of borrowing for countries including Ireland pose one of the main threats to growth in the EU, according to the European Commission which has just doubled its eurozone growth forecast for the year to 1.7%.

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Belgium’s victims of clerical abuse believe Church won’t change

TODAY in Belgium a Catholic priest, hidden by the Oblate fathers for the past decade, will hand himself over to police after Interpol issued what is termed a “red notice”, which requests information about his whereabouts.

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EU examines ways to help Pakistan recover

THE EU is battling to find a way to help Pakistan deal with the humanitarian disaster following the devastating floods last month.

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Lenihan: Anglo will not bring down country

FINANCE Minister Brian Lenihan has insisted nationalised Anglo Irish Bank will not be allowed to bring down the country.

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Lenihan to discuss orderly wind-down of Anglo with EU

AN orderly wind-down of Anglo Irish Bank will be one of the issues Finance Minister Brian Lenihan will discuss with the European Commission today.

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Money being used as an excuse by EU states to discriminate

ROMA, gypsies, Muslims and gays promise to divert some of the attention from Europe’s see-sawing economic predicament this autumn.

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EU needs to open up to economic potential of immigrants

IN the last few weeks the baby that brings the population of the EU to half a billion was born.

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Firms tap EU for innovation funds

THE economic downturn is forcing small businesses and scientists to join forces like never before and search for the products of the future.

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Rights and civil liberty freedoms decrease again

FOR the fourth year in a row, freedom in terms of political rights and civil liberties have decreased in the world, according to the international organisation, Freedom House.

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Goods ‘wrapped in up to six times more packaging’

AN investigation into unfair retail services may have uncovered why Ireland’s food prices are the second highest in the EU.

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EU fund ‘may be used to capitalise banks’

NATIONAL governments could tap part of the EU’s bailout fund to recapitalise banks following the stress tests if they fail to raise the money on the markets, Commission sources have suggested.

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Ireland ranks 2nd in EU for high prices

IRELAND is showing no sign of shedding its Rip-Off Republic tag as figures reveal the cost of filling a shopping basket is almost 30% higher than the EU average.

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Ireland’s corporate tax advantage may have limited life

THE advantage Ireland has in attracting foreign companies as a result of its low corporation tax rates may have a limited time to run, a report on taxation in the EU has warned.

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Shock phone bills to end as roaming download rates cut

SHOCK bills as a result of downloading on your smart phone or laptop when abroad should end today when telecoms companies must warn you as soon as you near €50 worth.

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Inquiry into European Parliament ‘surveillance’

FOREIGN intelligence services spying on the European Parliament?

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Burma threatens to undermine EU credibility on human rights

GROUPS all over the world, including in Dublin, took advantage of the 65th birthday of Aung San Su Kyi to pressurise jailers in her native Burma to release her, and hold genuinely democratic elections later this year.

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EU foreign ministers urge Israel to lift Gaza blockade

EU foreign ministers urged Israel to lift the blockade on Gaza, now entering its fourth year, but put off concrete proposals until their next meeting next month.

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€1bn campaign to block food labelling

THE food industry has spent €1 billion lobbying politicians to block an easy-to-understand labelling system, according to an expert group.

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Merkel watches from the sidelines as the EU slowly falls apart

The EU world, at least from Brussels, appears to be falling apart.

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Girls break gender barriers

IRISH girls are leadingEurope in breaking through gender barriers in education – except when it comes to engineering and manufacturing.

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Lenihan: Banking reports to spark action

THE Government should be able to take some steps on foot of the two reports into the banking crisis that has cost taxpayers more than €72 billion to date, Finance Minister Brian Lenihan has indicated.

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Going Dutch takes on a new meaning for political candidates

AS politicians increasingly shape their policies around what will get them elected, picking who to vote for has become a difficult issue for citizens.

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Battle lines are drawn as EU states and the markets square up

MONEY and Power.

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Cuts leading to fatalism in countries used to helplessness

DURING the week a headline in an international business newspaper declared that the Irish were taking the austerity in the same way as they suffer a hangover – lying on a sofa moaning.

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Deal helps rally euro but fears remain

THE European Union’s €750 billion support package announced yesterday has prompted strong growth in the value of the euro and in European shares but also prompted warnings that the market’s fears were merely allayed rather than dead.

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EU finance ministers consider crisis fund to stave off bankruptcy threat

FINANCE ministers were struggling last night to set up a fund worth potentially hundreds of billions of euro to shore up countries in danger of going bankrupt.

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People will not be able to bear cuts

THE Greek tragedy is not just a tale of a country going broke, of corruption, or when living beyond one’s means finally catches up with a nation, warns Nikos Ksidakis.

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Race against time to establish euro rescue fund

FINANCE Ministers were working against a tight deadline last night to set up a European rescue fund before the markets opened this morning.

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A lot of huff and puff over Dutch cannabis legislation

THOSE who claim issues like the EU internal market rules and the single market policy are boring and just for sad bureaucrats should think again.

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Is the burqa ban a symbol of discrimination or liberation?

IS it discrimination to ban women covering their face in public?

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Austerity package will see Greeks facing major upheaval to way of life

GREEK citizens are not just facing working longer for less pay over the next few years, but a complete upheaval to their way of life.

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Irish diplomats in line for EU jobs

A NUMBER of senior Irish diplomats and officials are in line for top jobs in the new, EU external action service.

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Germany rebuked over delay in Greek aid package

AGREEMENT on the conditions for the €45 billion loan to Greece was just a matter of days away, the European Commission said as several countries turned against Germany and its hard line on the Mediterranean country.

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Ireland to help Somalis fight pirates

IRELAND is to take part in training Somali security forces to help combat the pirates that have been terrorising vessels along the African coast and in some cases kidnapping and murdering their crew.

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Let’s hope the EU averts its eyes from rising Irish debt

IRELAND – how do we do it?

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Euro is still not out of danger

GREECE’s decision to finally ask for a bailout loan from the eurozone and IMF has not ended fears that the country will default or that the euro currency is out of danger.

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Co-operation on control of European skies is key

THE skies are open for business once again, but for how long is anyone’s guess.

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Lack of planning kept airspace shut

WHEN the volcanic ash cloud covered much of Europe, the only option was to shut down the airspace, because nobody knew what else to do.

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Delegation stresses strong potential of south-west

THE Cork region could become a showcase for the rest of Europe and develop high quality, eco jobs according to an alliance of leading business and education experts.

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Trains and automobiles become the choice de jour for EU elite

It looked like the revenge of the downtrodden.

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ECB criticises legal structure for Central Bank

THE European Central Bank (ECB) has criticised the legal structure for the proposed new Central Bank saying it lacks transparency and emphasising the need for it to be completely independent.

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Greece likely to call on part of €45bn EU aid package

THE Greek government is expected to call on a portion of the joint eurozone-International Monetary Fund loan of €45 billion later this week if they fail to raise money from the markets today at an acceptable rate.

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EU moves to tackle child sex abuse

TOUGHER penalties and greater co-operation between EU member states to tackle child sexual abuse and trafficking in human beings have been proposed by the European Commission.

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Leaders avoid setting anti-poverty targets they cannot meet

POVERTY is something we cannot afford, according to the European Commissioner with the not very sexy portfolio of employment, social affairs and inclusion.

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Cowen battles referendum bid on euro

TAOISEACH Brian Cowen was battling with Germany last night to avoid having to call a new referendum to change the rules of the euro.

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EU uses lessons from North in peace-building tool kit

ST PATRICK’S day in Brussels is unavoidable.

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Irish official tipped for top EU position

AN Irish official in Brussels, David O’Sullivan, is being touted for the post of secretary general of the EU’s new foreign service.

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Jesus gets thumbs up but God and Allah fall foul of name ban

NORMALLY you won’t find a boy named Sue in Sweden.

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Gaza: A tolerated humanitarian crisis

IRELAND is unusual among western democracies in its continuing fight to have the plight of the Palestinians addressed.

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EU foreign service starts to take shape

THE shape of the European Union’s foreign service became clearer after two days of discussions between its chief, Catherine Ashton, and the foreign ministers of the 27 member states.

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Anonymous whistleblowers can report online

Corruption and fraud can be reported anonymously through an internet system that keeps the whistleblower’s identity secret.

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Greeks throw caution to the wind in ‘mentioning the war’

THE advice not to “mention the war” has been ignored by the Greeks in the past week when, with true Mediterranean passion, they have thrown caution to the wind and reminded Germany of how they suffered at their hands.

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Irish economy to ‘stagnate for 10 years’

THE Irish economy will stagnate for 10 years but that is a much better prospect than if it were not a member of the eurozone, according to a leading European economist.

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IT bosses to report on challenges to business.

SENIOR management from some of the world’s top IT companies are drawing up a report for Research and Innovation Commissioner Máire Geoghegan-Quinn.

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Greece resists EU demands for cutbacks

GREECE came under huge pressure from other eurozone countries in Brussels last night to make further and immediate cuts in government spending.

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