What it says in the papers
Published 14/05/2015 | 06:47
We take a look at the main stories in this morning’s newspapers.
The Irish Independent leads with the story that the European Commission has dropped an official recommendation that the Government slash the cost of legal proceedings and make the legal sector more efficient.
High costs and the need for reform of the legal profession and other "sheltered sectors" of the economy had long been a bug-bear of the Troika during the bailout.
The Commission's so-called country-specific recommendations for Ireland, published yesterday, focuses on four key areas only - deficit and debt reduction, health costs, jobs, and mortgages.
The Irish Times leads with the story that pressure is mounting for cuts in variable mortgage rates.
The paper reports that the Central Bank has said in a report to the Minister for Finance that it would be advisable for the banks to cut rates to avoid a response from the political system.
New arrangements will see the courts able to overturn a bank’s decision in relation to an individual’s personal insolvency arrangements in some cases.
The Irish Examiner also leads with details of how the banks power to veto debt deals has been curbed.
The Herald leads with the story of how a gangster’s has had €100k seized after fleeing aboard in fear for his life.
Paul Williams reports that Derek ‘Bottler’ Devoy was in the process of moving the money to a bank in the UK when it was frozen by detectives here.
Devoy’s brother Mickey was shot dead last year, and in the aftermath of the shooting Derek was warning his life was in danger.
The Irish Daily Mail reports that tens of thousands of cars on Irish roads are being recalled over fears of a batch of faulty airbags.
The fault means that the airbag explodes upon deployment, sending shrapnel flying into car passengers.
It is believed six people have already died because of the error.
The Irish Daily Star reports that gardai have arrested six men and foiled a bomb plot surrounding the visit of Prince Charles here.
It is believed that dissidents had planned two attacks in an attempt to kill the heir to the British throne.
The Irish Mirror also leads with details of the alleged plot against Charles and Camilla.
Finally the Irish Sun reports that singer Robbie Williams’ wife Ayda Field is being sued by a male aide who claims she harassed him.