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Opening Bell: Greece talks through the night, Irish mortgages spike, France stays stagnant

Tempers flared overnight as the Greek parliament debated the terms of the country's third bailout...
Newstalk
Newstalk

07.41 14 Aug 2015


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Opening Bell: Greece talks thr...

Opening Bell: Greece talks through the night, Irish mortgages spike, France stays stagnant

Newstalk
Newstalk

07.41 14 Aug 2015


Share this article


Tempers flared overnight as the Greek parliament debated the terms of the country's third bailout. The parliament eventually voted at 9:30am this morning (6:30am GMT) and accepted the austerity-heavy bailout terms. 

Some speakers used obstructionist tactics, drawing the talks out over night - the first sitting was eventually abandoned after 4:00am, local time.

Eurozone finance ministers will also meet today to discuss Greece - officials from France and Germany have warned that this is not a done deal.

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Mortgage drawdowns in Ireland increased by 30% year-on-year during the last quarter, amounting to 6,250 between April and the end of June.

Owner occupiers make up the majority of the market, accounting for 90% or all drawdowns. 51% of the mortgages were taken out by first time buyers.

The Banking and Payments Federation's report said that the average value of first-time-buyers' mortgages grew by 39.6 percent to €552m.

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Official estimates from France believe that the country's economy was stagnant during the second quarter of 2015.

This is down on growth of 0.7% during the year's first quarter. Growth in household consumption fell from 0.9% to 0.1%.

GDP data for between April and June will be reported by a number of eurozone countries later today.

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US oil futures have fallen to their lowest prices since 2009 - the country is dealing with a persistent oil glut.

Nymex September West Texas Intermediate crude dropped below $42 a barrel last night - its lowest level since the on-set of the financial crisis.

As OPEC countries continue to pump and the summer holiday 'driving season' ends, prices are expected to remain low.

 


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