Opening Bell: Fiscal Council warnings, RBS stress, Ireland's new €10 coin

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The Government is being warned that increases in public sector wages will have to be paid for through tax increases or spending cuts.

The latest report from the Irish Fiscal Advisory Council says the economy has shown solid growth this year but adds that reducing our level of debt is key to protect against the fallout from Brexit and other economic risks.

It also suggested that there has been a loss of momentum in Ireland's economic recovery and that the State's growth forecasts may need to be revised downwards as consumer demand and PMI data suggest that households and employers are feeling cautious heading into the new year.


UK State-backed lender Royal Bank of Scotland must bolster its balance sheet after failing a Bank of England stress test.

Two other lenders - Barclays and Standard Chartered - also fell short on some measures but will not have to submit revised capital raising plans.

The BBC reports the bank has "agreed a revised capital plan... to improve its stress resilience."


The Central Bank will unveil a new coin to celebrate world renowned designer Eileen Gray today. 

Credited as being Ireland's most influential designer Gray from Enniscorthy in County Wexford died at the age of 98 in Paris in 1976.

Her dragon chair sold at Auction in Paris for €19.5m. 

The €10 silver proof coin marks the first time the Central Bank's has released a collector coin to commemorate the achievements of an Irish woman.

______________________________________________________, Ireland’s largest independent ticketing company, is to create 20 new high-tech roles developing a new ticketing product.

This will streamline the process of selling tickets to live events and also help to combat ticket touts.

€1.5m will be invested in the project - which is supported by grant funding from the Enterprise Ireland Research and Development Fund.

The company will also have vacancies in sales, marketing and operational roles.