IrishO'nomics

The construction industry in the U.K. has suffered a spectacular decline as seen from the latest figures released from the Office for National Statistics.  Missmc's neighbor is a Project Manager for a large commercial Irish Construction firm.  He has been making people redundant at a steady pace since last autumn.  As of this morning, he still works there, but, his boss was fired yesterday.  Such troublesome news cancelled our tennis evening last night.  It seems only a matter of time, but, optimism and wishful thinking have kept the family going.  

The bank that has financed a large amount of loans to the firm is soon to be passing the loans onward to the newly created National Treasury Management Agency in Ireland.  Little has been in the British press regarding the NTMA - details may be found here.

If my neighbor is still working at the company when the loans are transferred, the Irish taxpayers should be reassured that one of the best men is still left standing, toiling away, to make good on the loan. Fingers crossed.