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...My eyes boggle at an emerald ring the size of a cough sweet. There’s quite a collection of Cartier panthers; small enough to conceal in your palm, but valued at around £100,000 a pop....
...The lure of the Emerald Isle proved irresistible: “It’s a beautiful part of the world. It’s peaceful. And the people are kind.”...
...Along with sub-prime mortgages, rating agencies, the repo market, investment banks, bank regulators, US housing agencies and (possibly) central banks, commercial mortgage-backed securities were one of the...
...Among the changes was a drop in the size of mortgage for which interest payments could be offset against federal taxes, from $750,000 to $500,000....
...VAT incentives for newly built homes and a government-mandated mass conversion of foreign currency mortgages in 2015 have also helped boost demand from local investors and homebuyers....
...The glumness of Deutsche bankers has intensified with a $14bn ransom demand from the US Department of Justice in recompense for alleged misdeeds in mortgage-backed securities....
...Most of the area’s premium homes were bought without mortgages before finance was readily available and vendors have always been able to sit tight until they achieved their full asking price....
...One final measure: emigration is back to 1980s levels, as Ireland’s youth abandon the emerald isle to search for work in the US and Britain, in particular....
...“There is no true mortgage in Russia yet,” says Evdokimov....
...But mortgage arrears continue to climb; “ghost estates” of worthless homes will haunt the banks and the country for years....
...“Ireland has not been the pot of emerald gold that many hoped for,” notes Ken Baird, a restructuring partner at Freshfields....
...In a top hotel, acres of space are reserved for display cases containing emeralds, rubies and diamonds of a size not normally seen outside the Crown Jewels....
...Here’s a Deutsche chart of the RBS losses: But again, there are worse banks than Bank of Ireland, RBS and Lloyds out there on the emerald isle who need this liquidity....
...That would value Emerald at nearly £500m....
...Two years later the Royal Palm Hotel opened its doors and sleepy Fort Dallas began its transformation into the Emerald City of hot Latin music, anti-Castro fervour, beautiful people and general excess....
...The circa 1930 Art Deco piece of jewellery, which consists of emeralds, rubies, sapphires and diamonds, was inspired by Jacques Cartier’s trip to India in 1911. What was it worth 10 years ago?...
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