Pages

Showing posts with label Drug prices. Show all posts
Showing posts with label Drug prices. Show all posts

Friday, July 22, 2016

Donie's Ireland daily news BLOG

Ireland aims to end housing shortage by doubling buildings purchase/output by 2019

    

IRELAND WAS LEFT WITH A SURPLUS OF HOUSES AFTER A 2008 PROPERTY CRASH THAT CUT VALUES IN HALF BUT WHILE SOME OUT-OF-TOWN HOUSING ESTATES LIE EMPTY.

Ireland will aim to at least double its housing output by 2019, the government said on Tuesday, announcing a raft of measures to tackle a chronic shortage that is raising living costs and homelessness.
Ireland was left with a surplus of houses after a 2008 property crash that cut values in half but while some out-of-town housing estates lie empty, property has become scarce in cities like Dublin where the population is growing rapidly.
The government will speed up the planning process, assist first-time buyers and boost social housing to address the failure for the last six years to build half the 25,000 homes analysts say are needed nationwide each year to meet demand.
“We want to get to 25,000 by 2019, and I agree with many that we need to go well beyond 25,000 in terms of making up for the deficit that has been there now for a decade. In many ways, we need to get to between 30,000 to 35,000,” Irish housing minister Simon Coveney told a news conference.
While property prices are recovering and are now a third below peak, the cost of a building a new house exceeds the sale price in many instances and Coveney said government would help cut the cost by funding infrastructure projects on key sites and by freeing up state-owned land for residential development.
A Help to Buy scheme similar to the British government’s mortgage guarantee programme will be introduced in October’s budget to help boost demand among first-time buyers, alongside supply side measure to try to stop the scheme just resulting in higher house prices.
Coveney said the government would discuss the scheme with Ireland’s Central Bank which introduced strict new deposit rules to curb excessive mortgage lending last year. The scheme will be back-dated to ensure activity does not stall in the meantime.
The National Asset Management Agency (NAMA), the ‘bad bank’ set up in 2009 to mop up toxic assets in the financial system, will also be put under pressure to see if it can deliver more than the 20,000 new homes it has promised to build by 2020, Coveney said.
Rents have soared as a result of the shortages and are above peaks hit during the property boom in Dublin, damaging Ireland’s competitiveness and driving an increasing number of families still suffering from the financial crisis into homelessness.

SDLP leader Colum Eastwood echoes Enda Kenny’s call to look again at vote for united Ireland

   

THE LEADER OF THE SDLP HAS FOLLOWED THE TAOISEACH IN SUGGESTING A UNITED IRELAND MUST NOW BE LOOKED AT IN THE WAKE OF BREXIT, 

Colum Eastwood has said that the reunification of Ireland is “the biggest and best idea around” adding that it would be a “natural” way forward in the context of Britain leaving the EU.
His comments come after Enda Kenny this week opened up the possibility of a border poll in the context of Brexit negotiations.
Speaking at the MacGill Summer School in Donegal earlier this week Mr Kenny said: “If there is a clear evidence of a majority of people wishing to leave the United Kingdom and join the Republic that that should be catered for in the discussions that take place.”
Mr Eastwood, who was speaking in Glenties this morning said: “Much of the headline talk at MacGill this week has focused on the prospect of a further constitutional change through the calling of a border poll.
“This is a natural and welcome development.”
He told those attending the summer school that the events of the past few months have proven that “political life can no longer afford to presume the permanence of anything”.
“The SDLP, as a party, continues to believe that the reunification of Ireland is the biggest and the best idea around.
“However if the Brexit result and the demise of David Cameron has also taught us, it is that we should make sure to fight referenda that we are confident of winning”.
He added: “Scottish independence campaigners produced a 670-page document outlining the path to independent nationhood and how it would operate.
“It was credible and detailed. Irish nationalism now needs to start on its page one.”
Speaking about growth figures released last week which were described as “leprechaun economics” after they showed a 26.5% jump in projections Mr Eastwood said these figures made us realise that statistics do not always reflect reality.
“I think the CSO did us all an inadvertent favour last week in releasing their revised growth rate of 26%.
“The absurdity of those figures made us all sit up for a moment and realise that statistical facts do not necessarily correspond with reality. Sometimes ridicule manifests the most lasting realisations.
“If we are to reignite the European project we must escape from the culture of a distant centralism which has ceaselessly enveloped modern political thinking.
“A renewal of the European vision is therefore badly needed,” Mr Eastwood said.

Irish navy rescues another 60 migrants from Mediterranean total now over 10,000 since 2015

    

THE TAOISEACH ENDA KENNY INSPECTS A GUARD OF HONOUR DRAWN FROM THE LÉ JAMES JOYCE’S COMPANY BEFORE THE NAMING AND COMMISSIONING CEREMONY FOR THE IRISH NAVAL VESSEL IN DÚN LAOGHAIRE.

An Irish navy vessel rescued more than 60 more migrants from rubber crafts near Tripoli on Wednesday.
This brings the total number of migrants rescued in the Mediterranean by the Irish Naval Service since May 2015 to over 10,000.
The LÉ James Joyce was deployed to assist in the rescue following a request from the Italian Maritime Rescue Co-ordination Centre.
The Minister of State for Defence Paul Kehoe praised the Irish Naval Service for its assistance with the current migrant crisis in the Mediterranean.
“I wish to congratulate the Naval Service for the excellent role they have played in saving the lives of so many migrants since Naval Service vessels were first deployed in May 2015. The Government and I are very proud of [their] efforts,” Minister Kehoe said.
He added: “The deployment of Irish Naval vessels to the Mediterranean to engage in humanitarian search and rescue tasks is an important element in Ireland’s response to the migration crisis in the Mediterranean.
“The success of these operations demonstrates clearly the value of Ireland’s participation in this important work.
“Unfortunately thousands of people continue to make the very dangerous journey across the Mediterranean.”
He concluded: “The requirement for humanitarian search and rescue operations in this part of the world remains and Ireland will continue to play its part.”
The LÉ James Joyce set out just after 9am on Wednesday morning and the 63 rescued people were then transferred from two rubber crafts to the ship.
The 63 people were then given food and water, as well as receiving any required medical treatment.
They were then transferred to the MV Phoenix, which transported the migrants to a designated port of safety.
The Department of Defence has said 8,592 people were previously rescued by the Irish Naval Service in the Mediterranean from May to November 2015.
It said that since May this year, another Irish ship, the LÉ Róisín had rescued a further 1,264 people.
The LÉ James Joyce replaced the LÉ Róisín earlier this month, with a further 162 people being rescued on Tuesday this week.

Ireland’s drug pricing deal not a panacea for increasing costs

THE GOVERNMENT CAN EXPECT SAVINGS ON HEALTHCARE AND ‘BIG PHARMA’ NOW HAS CLARITY

    

THE INTRODUCTION OF ANNUAL PRICING REVIEWS – RATHER THAN THE PRICE BEING LOCKED IN AT THE START OF A FOUR-YEAR DEAL – AFTER WHICH PRICES CAN ONLY FALL, MAKES SENSE.

It went down to the wire but eventually the Government and the big drug companies have crafted a deal with which both sides can live.
For the Government and the Health Service Executive, the Framework Agreement on the Supply and Pricing of Medicines delivers sufficient savings for them to accept it as they struggle to keep the lid on healthcare costs. For “Big Pharma”, there is clarity on the process for approval of new drugs and on the price they can expect for supplying the Irish market.
Certain features in the new accord mark a significant improvement of previous such deals. The introduction of annual pricing reviews – rather than the price being locked in at the start of a four-year deal – makes sense. The provision that prices can only fall, not rise, in those reviews is also welcome from the perspective of those managing the healthcare budget.
The formalisation of the “horizon scan” where companies will indicate drugs that are likely to be available in the coming year or two should, in theory, facilitate the provision of budgetary “headroom” to use Minister for Education Simon Harris’s term to allow their introduction.

COMPLAINTS

A common complaint of drug pricing in Ireland is that the basket of European countries used to set the Irish price was artificially weighted towards countries with higher drug costs. On that basis, the addition of five new countries to that basket – Italy, Greece, Luxembourg, Sweden and Portugal – is a positive step.
However, drugs are priced only against countries in the basket where that identical product is sold. That allows the pharma companies manage prices by initially supplying only better off countries where they can achieve a better price.
Also, the “price” for drugs in the basket is the list price. In many markets, health purchasers can strike deals for discounts or rebates on those prices, reducing the effective cost but without lowering the basket price that affects the cost of such drugs elsewhere, including Ireland.
There are also uncertainties. Chief among those is managing the burgeoning bill for newer-generation biopharmaceutical drugs: biologics. This is the fastest-growing sector of the drug market but, in many cases, these are therapies that target less pervasive, niche conditions. Part of the trend towards “personalised medicine”, the smaller patient pool for such drugs means they are of necessity more expensive.

LOOKALIKES

Also, unlike traditional drugs, where precise copies of formulation can be made and marketed as generics once patent protection has expired, you cannot make a precise copy of a biologic. Instead, biosimilars are lookalikes that act in the same way as the original branded biologic.
But as the first of the biologics are only recently coming to an end of their patented life, it is too early to assess accurately how much cheaper it will be to produce biosimilars. Initial expectations of discounts of up to 40 per cent have not materialised in the US and elsewhere. The Irish deal effectively forces biosimilar entrants to undercut the original branded product by more than 30 per cent. They say that makes it uneconomic.
If biosimilars are deterred, a portion of the savings projected in the four-year deal will not materialise and that will mean less money available to sanction new drugs offering wonder cures or health improvements.
It would also be foolish to expect that savings under the deal will ensure all efficacious, value-for-money drugs that come to market could be afforded by the Irish health service. Inevitably, some patients will be disappointed. That will mean a continuation of the scenario where political pressure is applied to politicians and ministers to sanction treatments for which no budget is available.

AS WITH ALL THESE THINGS, THE BOTTOM LINE IS MONEY.  

Updated map of the human brain hailed as a scientific tour de force

    

RESEARCHERS REVEAL THAT HUMAN BRAIN HAS AT LEAST 180 DIFFERENT REGIONS, CONFIRMING THE EXISTENCE OF 83 KNOWN REGIONS AND ADDING 97 NEW ONES

The image showing the 180 different regions important for language, perception, consciousness, thought, attention and sensation.
When the German neurologist Korbinian Brodmann first sliced and mapped the human brain more than a century ago he identified 50 distinct regions in the crinkly surface called the cerebral cortex that governs much of what makes us human.
Now researchers have updated the 100-year-old map in a scientific tour de force which reveals that the human brain has at least 180 different regions that are important for language, perception, consciousness, thought, attention and sensation.
The landmark achievement hands neuroscientists their most comprehensive map of the cortex so far, one that is expected to supersede Brodmann’s as the standard researchers use to talk about the various areas of the brain.
Scientists at Washington University in St Louis created the map by combining highly-detailed MRI scans from 210 healthy young adults who had agreed to take part in the Human Connectome Project, a massive effort that aims to understand how neurons in the brain are connected.
The image shows the pattern of brain activation (red, yellow) and deactivation (blue, green) in the brain’s left hemisphere when listening to stories while in an MRI scanner.
Most previous maps of the human brain have been created by looking at only one aspect of the tissues, such as how the cells look under a microscope, or how active areas become when a person performs a certain task. But maps made in different ways do not always look the same, which casts doubt on where one part of the brain stops and another starts.
Writing in the journal Nature, Matthew Glasser and others describe how they combined scans of brain structure, function and connectivity to produce the new map, which confirmed the existence of 83 known brain regions and added 97 new ones. Some scans were taken while patients simply rested in the machine, while others were recorded as they performed maths tasks, listened to stories, or categorised objects, for example by stating whether an image was of a tool or an animal.
A new map of the human brain could be the most accurate yet, as it combines all sorts of different kinds of data. This might finally solve a century of disagreements over the shapes and positions of different brain areas.
The more detailed map, which will be made freely available for all, should help scientists working in the field of neuroimaging be more certain about the areas of the brain they see activity in, or notice problems with, when scanning patients and healthy volunteers.
The map will have an immediate impact on fundamental brain research, but will also quickly be taken up by neurosurgeons who can use the scientists’ computer algorithm to identify all of the different brain regions in patients they are about to operate on. “That will help in surgical planning to avoid areas that are involved in movement, and in understanding and producing language,” Glasser said.
A map of myelin content (red, yellow are high myelin; indigo and blue are low myelin) in the left hemisphere of the brain.
In the longer term, and potentially many years away, detailed brain maps are expected to help neuroscientists to understand how things go wrong in people with a range of disorders, such as dementia and schizophrenia.
Simon Eickhoff, a neuroscientist at the Institute for Neuroscience and Medicine at Jülich in Germany said the work was a “seminal step” towards reliable and comprehensive maps of the human brain and to understanding brain organisation.
Timothy Behrens, a professor of computational neuroscience at Oxford University added: “The extraordinary amount of effort in doing this and doing this so beautifully makes it an outstanding piece of work. It will lead to a profound change in how people think about the brain, and become the default way of describing human brain activity for years to come.”

Quack-Quack we ducklings are smarter than you think we are?

   

A STUDY FINDS THAT BABY BIRDS ARE CAPABLE OF UNDERSTANDING ABSTRACT CONCEPTS SUCH AS “SAME” AND “DIFFERENT”

YOU BETTER WATCH WHO YOU’RE CALLING “BIRD BRAIN TO.”? A NEW STUDY IN THE JOURNAL SCIENCE SUGGESTS THAT SOME BIRDS ARE SMARTER THAN WE HAD REALISED.

The study, which was conducted by zoologists Antone Martinho III and Alex Kacelnik at Oxford University, found that new born ducklings are capable of comprehending complex concepts such as “same” and “different” – abstractions that we typically think are beyond the capacity of most animals.
“The claim that abstract relational thinking is a unique ability of human beings can no longer be supported,” University of Iowa experimental psychologist Edward Wasserman wrote in an accompanying analysis. “Although animals may not be able to speak, studying their behaviour may be a suitable substitute for assaying their thoughts, and this in turn may allow us to jettison the stale canard that thought without language is impossible.”
To interpret ducklings’ thoughts, Martinho and Kacelnik tossed them into an experiment the day they were born. The experiment relied on the animals’ ability to imprint – to identify such significant figures as their mothers, very soon after birth. Once a duckling imprints, it sticks with that “mother” steadfastly, trailing her as the ones in “Make Way for Ducklings” do.
This is true even when that object is not actually a duck. In Martinho and Kalcelnik’s study, the ducklings were introduced 24 hours after hatching to a pair of small, brightly coloured shapes that circled above their pens like objects on a mobile. Some pairs had identical shapes – two spheres, for example – while others had mismatched ones. This was the “priming period” for what the researchers termed a “same-different” test.
Next, the baby birds were exposed to two new pairs of objects, one with the same shapes, the other with different ones. The majority of ducklings followed the pair of shapes that had the same relationship as the pair with which they were primed. The same principle held when the researchers tweaked the experiment, alternating the color of the two objects in the pairing rather than the shapes. Ducklings that had been primed with objects of the same colour opted to follow a different one-color pair later in the experiment; those that had been primed to recognize a pair with two colors did the same.
The results suggest that ducklings are able to recognize not only shape and colour but also sameness and difference – abstract concepts that require a complex understanding of the way things relate to one another. That the objects were in motion makes interpreting these relationships even more difficult.
“Even in a seemingly rigid and very rapid form of learning such as filial imprinting,” the researchers wrote, “the brain operates with abstract conceptual reasoning, a faculty often assumed to be reserved to highly intelligent organisms.”
According to Martinho and Kacelnik, previous studies have found that other animals, such as primates and crows, can understand these concepts. But they have to be taught.
“To our knowledge, this is the first demonstration of a non-human organism learning to discriminate between abstract relational concepts without any reinforcement training,” Kacelnik said in a statement.
It’s an impressive ability, Martinho added, but it also makes biological sense that ducklings would have it.
“Ducks walk, swim and fly and are constantly changing their exact shape and appearance as they extend their wings or become partially submerged. If the ducklings just had a visual ‘snapshot’ of their mother, they would lose her,” he said. “They need to be able to flexibly and reliably identify her, and a library of concepts and characteristics describing her is a much more efficient way to do so, compared with a visual memory of every possible configuration of the mother and her environment.”
Wasserman has said abstract thinking is far more widespread in the animal kingdom than we give other creatures credit for. He has done research with rats showing they’re capable of learning to understand sameness and difference and with crows suggesting they can be taught to match stimuli by color, shape and number of objects. Other examples are mounting: In one study, honeybees were taught to distinguish between paintings by Monet and Picasso.
“Our research and others suggest abstract concepts, as tools for thought, are not a luxury,” Martinho told PBS. “A lot of vertebrates are going to need them if they’re going to have a flexible, robust understanding of the world around them.”   

Friday, June 3, 2016

Donie's Ireland daily news BLOG update

New Minister Harris proposes EU bulk buying of drugs to lower Ireland’s costs

HEALTH AUTHORITIES WERE CRITICISED FOR REFUSING TO FUND A ‘GAME-CHANGING’ CYSTIC FIBROSIS DRUG

    

PROFESSOR MICHAEL BARRY, HEAD OF THE NATIONAL CENTRE FOR PHARMAECONOMICS, SAID THE NCPE HAS A GOOD TRACK RECORD IN NEGOTIATIONS WITH DRUGS COMPANIES.

Minister for Health Simon Harris says he intends to discuss with his European colleagues in the coming weeks the potential to jointly purchase new drugs in order to reduce costs.
He was reacting to controversy over news that the Cystic Fibrosis drug Orkambi had been judged uneconomic by the National Centre for Pharmaeconomics (NCPE), the Government body which evauluates the medical and economic case for new drugs.

THE COST OF ORKAMBI IS AN ESTIMATED €158,000 A YEAR PER PATIENT.

Mr Harris said that contrary to reports, the drug had not been rejected by the HSE. “The factual position is that the National Centre for Pharmacoeconomics is not in a position to recommend at the current price.”
However, Mr Harris said, “The drug manufacturer has indicated a willingness to negotiate so the process is not over. It will continue as a priority.”
Professor Michael Barry, head of the NCPE said he was hopeful there would be a successful outcome from negotiations with drug manufacturers Vertex.
Speaking on RTÉ’s Morning Ireland he said the NCPE had a good track record in negotiations with drugs companies.
  “We don’t put a price on life, but we believe the manufacturers got the price wrong here. The price is too high, we need a five fold reduction,” he said.
Earlier, the chief executive of Cystic Fibrosis Ireland Philip Watt said he was very disappointed the “game-changing” drug had been rejected by the NCPE.
  • Cost of high-tech drugs is a bitter pill to swallow
  • Cystic fibrosis patients dismayed as Orkambi rejected
  • Cystic Fibrosis drug Orkambi rejected as not cost effective
The centre had advised that the HSE should not cover the drug under State schemes and that the price would have be lower than € 30,000 a year, per patient, to be cost-effective.
Mr Watt said Orkambi had proven to be an innovative and very effective drug and was more important in Ireland than anywhere because more than 50% of the cystic fibrosis population of 500 here would benefit from it.
He said that he did believe the drug company could significantly drop its price and he acknowledged that the drug does cost a lot but it he pointed out that it meant fewer hospital stays for cystic fibrosis patients.
The issue was raised on Thursday in the Dáil where Tánaiste Frances Fitzgerald has said the Government wished to ensure people had the medical drugs they needed.
She was replying to Fianna Fáil leader Micheál Martin who said the programme for government included the commitment of an independent patient advocacy service.
There was also a commitment to providing “appropriate patient care pathways,’’ he added.
Earlier, he said, Jillian McNulty, who has cystic fibrosis, had outlined on RTÉ Radio, in an articulate way, the impact the drug had on her life. She had five weeks’ supply left, he added.
It seemed to him, he said, patient advocacy was not on the high end of the agenda.
Speaking on Morning Ireland, Ms McNulty said “Orkambi means people with cystic fibrosis using it can live a normal life, or as near a normal life, as possible”.
She said the drug, which she had been taking for three years, was “without doubt” a life-saving medication and without it she may not be here.
Mr Harris said Vertex had said it would continue to make the drug available to people in Ireland who are on trials, some of whom are reaching the end of the trial period in the coming weeks.
This, he said, would allow the HSE and the drug manufacturer “space to negotiate”.
He further acknowledged that with a new generation of cancer drugs shortly to become available – many of which will be vastly expensive – the problem presented by Orkambi was likely to reoccur.
“We’re going to have to look at a new policy framework,” he said. He wanted the “voice of clinician at forefront” of decisions about drugs, saying he intended to bring proposals to government shortly
Fianna Fail’s Darragh O’Brien said he was, “bitterly disappointed” to learn the drug had been rejected.
“This drug was approved by the EU Medicines Agency some time ago and has proven to be of major benefit for cystic fibrosis suffererse,” he said.
Sinn Féin Spokesperson on Health Louise O’Reilly TD said that “deciding that a drug is too expensive to be funded, without addressing how costs can be reduced through negotiations with relevant companies and sectors is not a tough policy choice, it is a cop out”.
Mr Harris’s Fine Gael colleague Tony McLoughlin also expressed disappointment at the decision, saying price negotiations with the manufacturer “ must begin immediately”.

OECD tells Government to do more for Irish SMEs

    

OECD THE INTERNATIONAL THINK TANK HAS SAID THE GOVERNMENT THEY SHOULD DO MORE FOR IRISH INDIGENOUS SMES AS IT HIGHLIGHTED SMALL FIRMS HERE PAY AMONG THE HIGHEST BORROWING COSTS IN THE EUROZONE.

Small firms’ industry groups long argued foreign-owned multi- nationals are showered with tax incentives, while Irish-owned small and medium companies are relatively less well supported despite employing hundreds of thousands.
That stance it unexpectedly appears to have won the backing of the Organisation for Economic Co-operation and Development, which in its economic update published yesterday, said the Government would be best advised to re-direct its business incentives to local firms.
Government business policies “should aim to make growth sustainable and inclusive”, said the influential think tank.
“Public support to business research and development, which is skewed towards R&D tax credits, should be rebalanced towards more direct support for domestic SMEs,” it said.
The OECD will also please small firms here as it highlights the high costs of their business loans, which it puts down to the still-high levels of bad loans on the balance sheets of the Irish banks.
“Financial conditions have improved on the back of monetary easing by the ECB,” said the think tank.
“The full return to normal credit supply is, however, hindered by the persistence of non-performing bank loans.
“The lending interest rates for SMEs remain among the highest in the euro area. New lending, although accelerating, is still outpaced by debt repayment in both the non-financial corporate and household sectors,” it said.
After the economy surged by 7.8% last year, the OECD projects GDP will grow 5% this year and by 3.4% in 2017.
Those forecasts compare with the Government’s own projections for growth rates of 4.9% and 3.9% in 2016 and 2017.
The OECD warns, however, that if the UK were to vote later this month to exit the EU that in time the Irish economy would be “significantly” hit, if trade barriers were raised across the Irish Sea and sterling were to slump against the euro.
It points out that British markets account for a fifth of all Ireland’s exports of goods and services.
On the theme of spreading the fruits of the economic recovery, the OECD said the Government should “prioritise” reducing unemployment through so-called activation schemes “which would spread the benefits of increased prosperity widely across society”.
It forecasts an average jobless rate here next year of 7.6% — high compared with the rest of the eurozone.
It also gives a nod to the Central Bank’s controls over mortgage lending for having “tempered” property price increases even as “very low interest rates and housing supply shortages risk boosting prices again”.

Global financial panic influenced Anglo Irish Bank conspiracy

MCATEER AND BOWE’S ACTIONS AIMED TO BOOST BANK’S BALANCE SHEET

  

ANGLO IRISH BANK’S FORMER HQ ON ST STEPHEN’S GREEN IN DUBLIN.

The criminal conspiracy of which former Anglo Irish Bank figures Willie McAteer and John Bowe have been found guilty took place in late September 2008 against a backdrop of international panic in the financial services sector.
The bank was preparing its accounts for the year to the end of September, and felt it had to boost its deposits, which were becoming seriously depleted.
The court heard in detail during the trial about the problems in the international banking system and how this meant depositors were looking for safe harbours.
Anglo Irish Bank was facing difficulties: its share price had fallen sharply and the trial focused on a transaction designed to improve its year-end account for 2008, which the prosecution held amounted to a conspiracy.
Meanwhile, detailed evidence was also given that Irish bankers were getting a clear message from the financial regulator and the Central Bank that they should “put on the green jersey” and help each other get through the storm.
McAteer was at the time Anglo’s director of finance and Bowe was its head of capital markets.
Both men have now been found guilty of being party to a criminal conspiracy for their role in circular transactions whereby Anglo lent a total of €7.2 billion to Irish Life and Permanent, which in turn, via Irish Life Assurance, lent the money back to Anglo.
The net result was to boost Anglo’s balance sheet, making it look more attractive to investors.
Intention to mislead?
The State argued that this was a conspiracy intended to mislead the market and investors.
Lawyers for the Anglo accused argued that their clients believed that the deposits were real deposits and were accounted for correctly on Anglo’s balance sheet and so no fraud was carried out.
The bulk of the money flowed in transactions that took place on September 29th and September 30th, 2008, with the latter being the date on which the Irish government announced its guarantee for the deposits of six Irish banks, including Anglo.
Ironically, the announcement of the guarantee instantly made the Irish banks attractive to depositors.
Also on that day, the Central Bank supplied Anglo with €1 billion in emergency funding after the bank said it might not otherwise be able to meet its obligations.
Neither McAteer nor Bowe gave evidence during their trial. However, Bowe’s work with Anglo meant that all his telephone conversations were recorded and snatches of conversations relevant to the charges were disclosed at the trial.
Discussion of transaction?
In one conversation, on September 29th, 2008, Bowe discussed the largest of the transactions with McAteer and the bank’s then chief executive, David Drumm.
The trial also heard of voluntary statements the accused had given the Garda.Matt Cullen, senior manager at Anglo’s treasury department, gave evidence of discussing the then proposed transactions with both Drumm and McAteer, and their giving their approval.
When an official in Anglo, Tony O’Hanlon, refused to sign off on the transactions,because of their size, McAteer, the trial heard, did so in his capacity as chief risk officer.
The details of an Anglo audit committee meeting on November 18th, 2008,when the transaction was discussed, also featured in the trial.
The two men were charged in 2013 after the Garda Bureau of Fraud Investigation initiated inquiries into the transactions in March 2009.
The trial, before Judge Martin Nolan, began in January of this year and is the longest running trial in the history of the State.

Half of elderly in care in Ireland could stay at home (if the services were available)

     hiqa
Policy officer with Age Action, Dr Marita O’Brien middle picture above>

AS MUCH AS 50% OF OLDER PEOPLE LIVING IN IRISH NURSING HOMES COULD LIVE AT HOME, IF THE APPROPRIATE SERVICES WERE AVAILABLE?

A report published today found that community supports are disorganised, fragmented and underfunded.
Social workers estimate that half of the older people they work with in long-term residential care could live at home.
The report was launched jointly by the Irish Association of Social Workers, Age Action, the Alzheimer Society of Ireland and the School of Social Policy, Social Work and Social Justice in University College Dublin.
It includes a national survey of social workers working with older people, including people living with dementia. There are also in-depth interviews with social workers, employed in a variety of settings across the country.
One of the report’s authors, Dr Sarah Donnelly from the School of Social Policy in UCD, said home care in Ireland was in crisis.
“Acute hospitals and nursing homes are being prioritised over the kinds of community services that enable older people to stay home,” said Dr Donnelly.
Policy officer with Age Action, Dr Marita O’Brien, said: “It has been government policy since the 1960s to support older people to stay at home as long as possible, but this simply is not happening.”
Dr O’Brien said people had a right to a nursing home bed, and it was time they had a right to stay at home.
Advocacy officer with the Alzheimer Society of Ireland, Dr Emer Begley, said geography, not need was deciding who got home help.
Community care services should be reformed and resourced, the report urges.
It also calls on the Government to establish a fair and equitable system of allocating care and support services that is underpinned by legislation.

New evidence sheds more light on the origins of man’s best friend

    
Two separate populations of wolves thousands of miles apart may have befriended humans and given rise to the domestic dog.
New evidence suggests that the first domestic dogs appeared on opposite sides of the Eurasian continent more than 12,000 years ago.
Later, the eastern dogs dispersed with migrating humans and bred with those from the west. Today, most dogs are a mixture of these ancient and once separate descendants of wolves, scientists believe.
The origins of man’s best friend is a hotly debated topic, with experts disagreeing about where and when wolves were first domesticated.
Some have pointed to Europe and others to central Asia or China, but up until now it was thought the transformation of wolves into domestic dogs only happened once.
For the new study, a team led by scientists from Oxford University analysed DNA from 59 ancient dogs that lived between 3,000 and 14,000 years ago.
Researchers also sequenced the full genome, or genetic code, of a 4,800-old-dog from Newgrange, Ireland, using one of the animal’s bones.
Comparing the data with DNA signatures from more than 2,500 previously studied modern dogs, as well as archaeological evidence, revealed a genetic split between modern dog populations from eastern Asia and Europe.
The findings are reported in the current issue of the journal Science.
Professor Greger Larson, from Oxford University, said: “Animal domestication is a rare thing and a lot of evidence is required to overturn the assumption that it happened just once in any species.
“Our ancient DNA evidence, combined with the archaeological record of early dogs, suggests that we need to reconsider the number of times dogs were domesticated independently. Maybe the reason there hasn’t yet been a consensus about where dogs were domesticated is because everyone has been a little bit right.”
Colleague Professor Dan Bradley, from Trinity College Dublin, who led analysis of the Newgrange bone, said: “The Newgrange dog bone had the best preserved ancient DNA we have ever encountered, giving us prehistoric genome of rare high quality.
“It is not just a postcard from the past, rather a full package special delivery.”
Co-author Professor Keith Dobney, who co-directs the dog domestication project at the University of Liverpool, said a “new coherent story” of the origins of the domestic dog was now beginning to emerge.
He added: “With so much new and exciting data to come, we will finally be able to uncover the true history of man’s best friend.”