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Selected Overview for International Corporate Restructuring Summit

Selected Overview for International Corporate Restructuring Summit . Jim Power September 25 th 2013. Irish GDP Growth. Irish Quarterly Growth Profile . IRISH ECONOMY SO FAR IN 2013. Economy technically out of recession Q2 2013 H1 GDP -1.1%

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Selected Overview for International Corporate Restructuring Summit

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  1. Selected OverviewforInternational Corporate Restructuring Summit

    Jim Power September 25th 2013
  2. Irish GDP Growth
  3. Irish Quarterly Growth Profile
  4. IRISH ECONOMY SO FAR IN 2013 Economy technically out of recession Q2 2013 H1 GDP -1.1% Retail Sales (Jan-Jul) Volume 0.0%, Value -0.4% Retail Sales (Jan-Jul) Ex-Cars Volume +0.6% Value +0.3% H1 Merchandise Exports -5.8% (Patent Issue) +33,800 jobs in year to Q2, 64% full-time jobs Live register trending downwards slowly Deficit falling gradually – tax take in line with expectations Credit conditions still very difficult Housing activity stabilising, Dublin market showing signs of life Overall, light appearing, but still a challenging environment
  5. Growth in Credit (YoY)
  6. Ireland-Employment Q2 2013
  7. Ireland-Consumer Confidence
  8. National Passenger Car Registrations
  9. House Completions (Dept of Environment)
  10. Mortgage Market (H1 -12.8% YoY)
  11. Residential Rents (CSO)
  12. Mortgage Arrears 770,610 private residential mortgages with €109.1 bln in loans outstanding 148,529 buy to let mortgages with €30.6 bln in loans outstanding 97,874 private residential mortgage in arrears over 90 days end-June (12.7% of total) €18.6 bln outstanding balances on these mortgages in arrears 30,326 buy to let residential mortgages arrears over 90 days (20.4%) with €8.7 bln outstanding balances on these mortgages in arrears 79,357 PDH mortgages re-structured end-June 76.5% meeting new terms Major issue over next couple of years – no simple solution!
  13. Total Insolvencies (Insolvencyjournal.ie)
  14. Insolvencies by Sector (Insolvencyjournal.ie)
  15. Key Issues External environment getting somewhat better Dangerous levels of sovereign debt Return to market funding Fiscal consolidation – becoming more difficult Personal debt issue NAMA impact on property market Insolvency Bill Restoration of a functioning banking system
  16. NOW FOR THE REAL ACTION!
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