If Treasury does not meet the deadline [to pay €900 million this month], Nama will move to appoint a receiver to certain properties in Ireland.

Treasury is jointly controlled by Irish businessmen Johnny Ronan (top, and, 2nd pic, with Bertie Ahern at the opening of the Convention Centre in 2010) and Richard Barrett (bottom pic right with Ronan and Brian Cowen at the Convention Centre opening).

Its portfolio of assets in Ireland includes the Spencer Dock development in Dublin’s Docklands and the Convention Centre Dublin, which was developed by Treasury and receives an annual subvention from the State.

The convention centre hosted a concert for Queen Elizabeth II on her historic state visit to the Republic last year.

Treasury also developed the luxury Ritz Carlton Hotel in Enniskerry, Co Wicklow.

The state loans agency appears to have lost patience with Treasury following many months of negotiations to agree a business plan and a term sheet for the loans.

 

Nama To Take Control Of Treasury Holdings Properties (Ciaran Hancock, Irish Times)

(Photocall Ireland)

 

John Gustavsson writes:

As a matter of fact, a British Member of the European Parliament, David Hannan, suggested Britain should reach out a hand to the Irish and offer them the sterling. Also more trade between Ireland and the UK would benefit both countries.

We should also remember that technically, Ireland does not need the UK’s permission to use the sterling. It may be useful to have (not to create diplomatic tension etc), but it’s not absolutely necessary.

 

Sterling: A solution for Ireland (Caffeinated Thoughts)

Thanks DD

Some of the 240 evicted residents of the Priory Hall apartment complex in Donaghmede, Dublin protesting outside Leinster House this afternoon. The residents have been living in temporary accommodation since October.

Also liable for the household charge.

(Laura Hutton/Photocall Ireland)
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