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Moore-Cherry, Niamh
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Moore-Cherry, Niamh
Official Name
Moore-Cherry, Niamh
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Now showing 1 - 4 of 4
- PublicationIreland’s National Asset Management Agency (NAMA) and the British property market: Disposing of crisisA watershed year for the global economic system, the year 2008 also marked the demise of what had been broadly heralded as the ‘Celtic Tiger’ economic miracle as a triple crisis (financial, fiscal and banking) took hold in Ireland. Through the early 2000’s, much of the ‘growth’ sustained by a speculative property bubble facilitated in part by generous mortgage relief . The easy availability of credit coupled with low interest rates and fiscal incentives for property development, that had long run their course, fuelled the construction boom: in Ireland, at its peak, the number of houses completed was somewhere between 33-50% the number of homes being built in the UK. Whelan has calculated that “the total stock of mortgage loans in Ireland exploded from €16 billion in 2003:Q1 to a peak of €106 billion in 2008:Q3, about 60 percent of that year’s GDP” . A growing dependence on consumption-based taxes, became apparent with property-based taxes accounting for 20% of all Irish tax revenue in 2006. By the late 2000’s, property supply ‘overshot’ what was required, the market stagnated, and credit was closed off. Rather than relying on deposits, banks had engaged in high-risk practices borrowing short from the international money markets to lend to long-term projects, leaving the sector exposed when the global financial crisis and credit crunch hit in 2008. In response, the Irish government in September 2008 issued a blanket guarantee of the Irish domestic banking system in an effort to stem the withdrawal of large deposits and help facilitate capital raising. In early 2009, Anglo-Irish Bank was nationalised and three other banks recapitalised. Nonetheless the scale of their exposure was such that while loans made to property developers remained on their books, domestic banks could not raise funding nor stem capital outflows. In an effort to address the critical uncertainty regarding the banks’ exposure to property related loans, and facilitate the recovery of the sector, the Government announced the establishment of the National Asset Management Agency (NAMA) in an emergency budget in April 2009.
154 - PublicationThe Playful City: A tool to develop more more inclusive, safe and vibrant intergenerational urban communities(STIPO, 2019-09-30)
; ; ; ; Drawing on the importance of play as a form of learning and engagement (Bento & Dias, 2017), A Playful City set out to reawaken awareness of the beauty and adventure hidden in the banal everyday streetscapes of the city and reimagine them with the surrounding communities as intergenerational playful spaces. Through a people-first approach, both young and old citizens within communities are brought together to articulate how they view their local area, how they would like to see public spaces designed, and to support a sense of community ownership of public space. Harnessing the potential of children and young people as a key resource, working in concert with their own communities and outside stakeholders, is critical to the sustainable development of future cities.1076 - PublicationThe Territorial Dimensions of EducationFor all citizens to participate fully in society and to improve employability, a basic level of education is required. Education is a key factor in preventing poverty, achieving social inclusion objectives, and in ensuring that Europe can develop a “smart growth” agenda because the growing numbers of knowledge-intensive jobs require higher levels of education and those with low levels of qualification could potentially be significantly excluded (Lennert et al., 2010). The transition towards a more knowledge-intensive economy can only take place with increasing levels of education. Carneiro (2006, p. 98) specifically argues that “education directly affects individual employment and earnings and therefore it contributes to income inequality for a given cross section of individuals”. The EU2020S itself associates high levels of early school leaving with a range of negative impacts on individuals, societies and economies (European Commission, 2011a); improving educational attainment is therefore critical for the develpment of a smart, inclusive and sustainable Europe.
280 - PublicationResearch, development and innovation across the European territories(Universidade de Santiago de Compostela, 2013-06)
; ; Investment in research and innovation is one of three headline indicators identified as an important aspect of an overall growth and jobs strategy within the Smart Growth pillar of the EU2020S. Combined with more efficient use of resources, innovation is conceived as the key mechanism through which the European Union will become increasingly competitive and through which economic recovery will occur. Ahlstrom (2010: 10) argues that “steady economic growth generated through innovation plays a major role in producing increases in per capita income. Small changes in economic growth can yield very large differences in income over time, making firm growth particularly salient to societies”. Research, development and innovation thus has the potential to help deliver on at least some of the smart, inclusive and sustainable goals of the EU2020S. Strong local economies are required to ensure global competitiveness (Territorial Agenda 2020) and the Innovation Union flagship initiative identifies 34 action points to improve the conditions and access to finance for research and innovation in Europe, facilitating the transfer of innovative ideas into products and services that will create growth and jobs (European Commission, 2010a).272