1.
Central Bank of Ireland
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The Central Bank of Ireland is Irelands central bank, and as such part of the European System of Central Banks. It is also the financial services regulator for most categories of financial firms. It was the issuer of Irish pound banknotes and coinage until the introduction of the euro currency and its head office is located on Dame Street, Dublin, where the public may exchange non-current Irish coinage and currency for euros. It also operates from premises in Spencer Dock, Iveagh Court, the Currency Centre at Sandyford is the currency manufacture, warehouse and distribution site of the bank. By March 2017 its city centre staff will move to a new building at North Wall Quay, on the independence of the Irish Free State in 1922, the new states trade was overwhelmingly with the United Kingdom, so the introduction of an independent currency was a low priority. British banknotes, and notes issued by Irish banks circulated and coins remained in circulation and these coins entered circulation on 12 December 1928. The Central Bank broadened its activities over the decades, but it remained in effect a currency board until the 1970s, such was the proliferation of small industrial banks and hire purchase firms in the late 1960s, the 1971 Central Bank Act introduced significantly enhanced authorisation and supervision standards. In the inevitable consolidation in the marketplace, in 1976 a liquidator was appointed to Irish Trust Bank Ltd after Central Bank investigations and in 1982 Merchant Banking Ltd also collapsed. The 1970s was a decade of change, which began with the decimalisation of the currency came into effect on 15 February 1971. Decimalisation would have provided an opportunity to break the link with Sterling. At the same time moves to create a market in Dublin. In the mid to late 1970s, opinion within the bank was moving toward breaking the link with sterling and devaluing the Irish currency in order to limit inflationary effects from abroad, at this time, however, an alternative option became available. The Irish government had to decide whether or not to participate in the EMS, despite this, on 15 December 1978 it was announced that Ireland would participate in the EMS. Countries were given the option of either a 2. 25% or 6% margin of fluctuation within the EMS Exchange Rate Mechanism, after over 50 years, the parity of the Irish and British currencies was broken, and the Irish currency became known as the Irish pound. The initial experience of the EMS was disappointing, by late 1980 the Irish Pound had fallen in value to less than 80 British pence, and Irish inflation was higher than British. Eventually the EMS settled down, and Irish inflation was consistently the same or lower than Britains inflation rate from 1987 onwards, the idea of a single European currency goes back to the Schumann Plan of 1950. The first blueprint for how to go about implementing the currency, the Werner Report of 1970 was not proceeded with, but the ultimate aim was always kept in mind. The Delors Report endorsed by the Madrid Summit of June 1989 envisaged a three-stage process to monetary union, and this envisaged the start of monetary union on 1 January 1999 and the introduction of notes and coins on 1 January 2002
2.
Ticker symbol
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A ticker symbol or stock symbol is an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. A stock symbol may consist of letters, numbers or a combination of both, ticker symbol refers to the symbols that were printed on the ticker tape of a ticker tape machine. Stock symbols are unique identifiers assigned to each security traded on a particular market, for example, AAPL is for Apple Inc. OODH is for Orion DHC, Inc. and HD is for Home Depot, a stock symbol can consist of letters, numbers, or a combination of both, and is a way to uniquely identify that stock. The symbols were kept as short as possible to reduce the number of characters that had to be printed on the ticker tape, the allocation of symbols and formatting convention is specific to each stock exchange. In the US, for example, stock tickers are typically between 1 and 4 letters and represent the name where possible. In Europe, most exchanges use three-letter codes, for example Dutch consumer goods company Unilever traded on the Amsterdam Euronext exchange has the symbol UNA, while in Asia, numbers are often used as stock tickers to avoid issues for international investors when using non-Latin scripts. For example, the bank HSBCs stock traded on the Hong Kong Stock Exchange has the ticker symbol 0005, symbols sometimes change to reflect mergers. Prior to the 1999 merger with Mobil Oil, Exxon used a spelling of the company XON as its ticker symbol. The symbol of the firm after the merger was XOM, symbols are sometimes reused, in the US the single-letter symbols are particularly sought after as vanity symbols. For example, since Mar 2008 Visa Inc. has used the symbol V that had previously used by Vivendi which had delisted. To fully qualify a stock, both the ticker and the exchange or country of listing needs to be known, on many systems both must be specified to uniquely identify the security. This is often done by appending the location or exchange code to the ticker, although stock tickers identify a security, they are exchange dependent, generally limited to stocks and can change. These limitations have led to the development of other codes in financial markets to identify securities for settlement purposes, the most prevalent of these is the International Securities Identifying Number. An ISIN uniquely identifies a security and its structure is defined in ISO6166, Securities for which ISINs are issued include bonds, commercial paper, stocks, and warrants. The ISIN identifies the security, not the exchange on which it trades, for instance, Daimler AG stock trades on twenty-two different stock exchanges worldwide, and is priced in five different currencies, it has the same ISIN on each, though not the same ticker symbol. ISIN cannot specify a particular trade in this case, and another identifier, following the introduction of the Sequence trading platform in 1996, EPICs were renamed Tradable Instrument Display Mnemonics, but they are still widely referred to as EPICs. Stocks can also be identified using their SEDOL number or their ISIN, in the United States, modern letter-only ticker symbols were developed by Standard & Poors to bring a national standard to investing
3.
Irish Stock Exchange
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The Irish Stock Exchange is Irelands main stock exchange, and has been in existence since 1793. The Irish Stock Exchange is a leader in the listing of debt and fund securities and is a European gateway exchange for companies seeking to access investors in Europe. With over 35,000 securities listed on its markets, the ISE is the exchange of choice for over 4,000 issuers from more than 85 countries to raise funds and access international investors. It also found that having a domestic securities industry centered on the Irish Stock Exchange generates €207m in estimated direct economic impact, in 2017, the ISE was named the #2 Best Medium Workplace in Ireland at the Great Place to Work Awards. In 2015, the ISE won a GPtW Inspiring Award for work it completed on its history and was ranked in the Top 50 Great Places to Work Europe, there are currently 50 companies with shares listed on the markets of the Irish Stock Exchange. New equity listings in 2016 came from Venn Life Sciences, Draper Esprit, and Dalata Hotel Group, three other IPOs took place in 2015 raising a further €650m, Applegreen, Permanent TSB and Hostelworld. These three companies raised a total of €484m at IPO. Total fund raisings in 2014 of listed companies was €1. 3bn, the second #IPOready programme will commence in 2017. The ISE’s electronic trading platform is called ISE Xetra and is provided in partnership with Deutsche Börse since the ISE closed its trading floor in Anglesea Street Dublin 2 on 6 June 2000. Shares trading on the ISE are settled by Euroclear UK & Ireland via the CREST system, the ISE is the main centre of liquidity in Irish shares. The company with the highest turnover on the ISE in 2016 was CRH and this was followed Ryanair, Paddy Power Betfair, Bank of Ireland and Kerry Group. Trading volumes on the exchange in 2011 were about a quarter of the 2007 peak, in June 2012, following the collapse of a stockbrokers, the Irish Independent asked Will there even be a stand-alone Irish equity market in five years time. The ISE is among the leading centres globally for the listing of securities with statistics showing debt listings growing by more than 7% in 2016 to reach over 29,000 securities. The ISE was ranked at #2 among global exchanges according to released by the World Federation of Exchanges at the end of December 2016. Global investment managers can choose one of two markets when listings funds, the MSM or GEM. Notable investment managers listing funds on ISE markets include Tideway, BNY Mellon, PIMCO, in 2014 the ISE launched www. isefundhub. com, an information portal for funds listed on the ISE and funds domiciled in Ireland. LEIs are codes designed to create a reference data system that uniquely identifies every legal entity or structure, in any jurisdiction. Businesses may apply for an LEI code through ISEdirect, lEIs were brought in by global regulators as part of the response to the global financial crisis
4.
Dublin
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Dublin is the capital and largest city of Ireland. Dublin is in the province of Leinster on Irelands east coast, the city has an urban area population of 1,345,402. The population of the Greater Dublin Area, as of 2016, was 1,904,806 people, founded as a Viking settlement, the Kingdom of Dublin became Irelands principal city following the Norman invasion. The city expanded rapidly from the 17th century and was briefly the second largest city in the British Empire before the Acts of Union in 1800, following the partition of Ireland in 1922, Dublin became the capital of the Irish Free State, later renamed Ireland. Dublin is administered by a City Council, the city is listed by the Globalization and World Cities Research Network as a global city, with a ranking of Alpha-, which places it amongst the top thirty cities in the world. It is a historical and contemporary centre for education, the arts, administration, economy, the name Dublin comes from the Irish word Dubhlinn, early Classical Irish Dubhlind/Duibhlind, dubh /d̪uβ/, alt. /d̪uw/, alt /d̪u, / meaning black, dark, and lind /lʲiɲ pool and this tidal pool was located where the River Poddle entered the Liffey, on the site of the castle gardens at the rear of Dublin Castle. In Modern Irish the name is Duibhlinn, and Irish rhymes from Dublin County show that in Dublin Leinster Irish it was pronounced Duílinn /d̪ˠi, other localities in Ireland also bear the name Duibhlinn, variously anglicized as Devlin, Divlin and Difflin. Historically, scribes using the Gaelic script wrote bh with a dot over the b and those without knowledge of Irish omitted the dot, spelling the name as Dublin. Variations on the name are found in traditionally Irish-speaking areas of Scotland, such as An Linne Dhubh. It is now thought that the Viking settlement was preceded by a Christian ecclesiastical settlement known as Duibhlinn, beginning in the 9th and 10th century, there were two settlements where the modern city stands. Baile Átha Cliath, meaning town of the ford, is the common name for the city in modern Irish. Áth Cliath is a name referring to a fording point of the River Liffey near Father Mathew Bridge. Baile Átha Cliath was an early Christian monastery, believed to have been in the area of Aungier Street, there are other towns of the same name, such as Àth Cliath in East Ayrshire, Scotland, which is Anglicised as Hurlford. Although the area of Dublin Bay has been inhabited by humans since prehistoric times and he called the settlement Eblana polis. It is now thought that the Viking settlement was preceded by a Christian ecclesiastical settlement known as Duibhlinn, beginning in the 9th and 10th century, there were two settlements where the modern city stands. The subsequent Scandinavian settlement centred on the River Poddle, a tributary of the Liffey in an area now known as Wood Quay, the Dubhlinn was a small lake used to moor ships, the Poddle connected the lake with the Liffey. This lake was covered during the early 18th century as the city grew, the Dubhlinn lay where the Castle Garden is now located, opposite the Chester Beatty Library in Dublin Castle
5.
Republic of Ireland
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Ireland, also known as the Republic of Ireland, is a sovereign state in north-western Europe occupying about five-sixths of the island of Ireland. The capital and largest city is Dublin, which is located on the part of the island. The state shares its land border with Northern Ireland, a part of the United Kingdom. It is otherwise surrounded by the Atlantic Ocean, with the Celtic Sea to the south, Saint Georges Channel to the south-east, and it is a unitary, parliamentary republic. The head of government is the Taoiseach, who is elected by the Dáil and appointed by the President, the state was created as the Irish Free State in 1922 as a result of the Anglo-Irish Treaty. It was officially declared a republic in 1949, following the Republic of Ireland Act 1948, Ireland became a member of the United Nations in December 1955. It joined the European Economic Community, the predecessor of the European Union, after joining the EEC, Ireland enacted a series of liberal economic policies that resulted in rapid economic growth. The country achieved considerable prosperity between the years of 1995 and 2007, which known as the Celtic Tiger period. This was halted by a financial crisis that began in 2008. However, as the Irish economy was the fastest growing in the EU in 2015, Ireland is again quickly ascending league tables comparing wealth and prosperity internationally. For example, in 2015, Ireland was ranked as the joint sixth most developed country in the world by the United Nations Human Development Index and it also performs well in several national performance metrics, including freedom of the press, economic freedom and civil liberties. Ireland is a member of the European Union and is a member of the Council of Europe. The 1922 state, comprising 26 of the 32 counties of Ireland, was styled, the Constitution of Ireland, adopted in 1937, provides that the name of the State is Éire, or, in the English language, Ireland. Section 2 of the Republic of Ireland Act 1948 states, It is hereby declared that the description of the State shall be the Republic of Ireland. The 1948 Act does not name the state as Republic of Ireland, because to have done so would have put it in conflict with the Constitution. The government of the United Kingdom used the name Eire, and, from 1949, Republic of Ireland, for the state, as well as Ireland, Éire or the Republic of Ireland, the state is also referred to as the Republic, Southern Ireland or the South. In an Irish republican context it is referred to as the Free State or the 26 Counties. From the Act of Union on 1 January 1801, until 6 December 1922, during the Great Famine, from 1845 to 1849, the islands population of over 8 million fell by 30%
6.
Earnings before interest and taxes
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In accounting and finance, earnings before interest and taxes, is a measure of a firms profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses, when a firm does not have non-operating income, then operating income is sometimes used as a synonym for EBIT and operating profit. To calculate EBIT, expenses are subtracted from revenues, net income is later obtained by subtracting interest and taxes from the result
7.
Net income
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In business, net income is an entitys income minus cost of goods sold, expenses and taxes for an accounting period. In the context of the presentation of financial statements, the IFRS Foundation defines net income as synonymous with profit, net income is a distinct accounting concept from profit but the same as net profit. Net income can also be calculated by adding a companys operating income to non-operating income, net income can be distributed among holders of common stock as a dividend or held by the firm as an addition to retained earnings. As profit and earnings are used synonymously for income, net earnings, often, the term income is substituted for net income, yet this is not preferred due to the possible ambiguity. Net income is called the bottom line because it is typically found on the last line of a companys income statement. The items deducted will typically include tax expense, financing expense, likewise, preferred stock dividends will be subtracted too, though they are not an expense. For a merchandising company, subtracted costs may be the cost of goods sold, sales discounts, for a product company advertising, manufacturing, and design and development costs are included
8.
Irish language
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Irish, also referred to as Gaelic or Irish Gaelic, is a Goidelic language of the Indo-European language family originating in Ireland and historically spoken by the Irish people. Irish is spoken as a first language by a minority of Irish people. Irish enjoys constitutional status as the national and first official language of the Republic of Ireland and it is also among the official languages of the European Union. The public body Foras na Gaeilge is responsible for the promotion of the language throughout the island of Ireland and it has the oldest vernacular literature in Western Europe. The fate of the language was influenced by the power of the English state in Ireland. Elizabethan officials viewed the use of Irish unfavourably, as being a threat to all things English in Ireland and its decline began under English rule in the 17th century. In the latter part of the 19th century, there was a decrease in the number of speakers. Irish-speaking areas were hit especially hard, by the end of British rule, the language was spoken by less than 15% of the national population. Since then, Irish speakers have been in the minority, efforts have been made by the state, individuals and organisations to preserve, promote and revive the language, but with mixed results. Around the turn of the 21st century, estimates of native speakers ranged from 20,000 to 80,000 people. In the 2011 Census, these numbers had increased to 94,000 and 1.3 million, there are several thousand Irish speakers in Northern Ireland. It has been estimated that the active Irish-language scene probably comprises 5 to 10 per cent of Irelands population, there has been a significant increase in the number of urban Irish speakers, particularly in Dublin. In Gaeltacht areas, however, there has been a decline of the use of Irish. Údarás na Gaeltachta predicted that, by 2025, Irish will no longer be the language in any of the designated Gaeltacht areas. Survey data suggest that most Irish people think highly of Irish as a marker of identity. It has also argued that newer urban groups of Irish speakers are a disruptive force in this respect. In An Caighdeán Oifigiúil the name of the language is Gaeilge, before the spelling reform of 1948, this form was spelled Gaedhilge, originally this was the genitive of Gaedhealg, the form used in Classical Irish. Older spellings of this include Gaoidhealg in Classical Irish and Goídelc in Old Irish, the modern spelling results from the deletion of the silent dh in the middle of Gaedhilge, whereas Goidelic languages, used to refer to the language family including Irish, comes from Old Irish
9.
Royal charter
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A royal charter is a formal document issued by a monarch as letters patent, granting a right or power to an individual or a body corporate. They were, and are still, used to establish significant organisations such as cities or universities, Charters should be distinguished from warrants and letters of appointment, as they have perpetual effect. Typically, a Royal Charter is produced as a high-quality work of calligraphy on vellum, the British monarchy has issued over 980 royal charters. Of these about 750 remain in existence, the earliest was to the town of Tain in 1066, making it the oldest Royal Burgh in Scotland, followed by the University of Cambridge in 1231. Charters continue to be issued by the British Crown, a recent example being that awarded to the Chartered Institute for the Management of Sport and Physical Activity, Charters have been used in Europe since medieval times to create cities. The date that such a charter is granted is considered to be when a city is founded, at one time, a royal charter was the sole means by which an incorporated body could be formed, but other means are generally used nowadays instead. In the period before 1958,32 higher education institutes had been created by royal charter and these were typically engineering or technical institutions rather than universities. Royal decrees can therefore no longer grant higher education status or university status. A Royal Charter is granted by Order in Council, either creating an incorporated body and this is an exercise of the Royal Prerogative, and, in Canada, there are hundreds of organisations under Royal Charters. Such organisations include charities, businesses, colleges, universities, today, it is mostly charities and professional institutions who receive Royal Charters. Application for a charter is a petition to the Queen-in-Council, however, meeting these benchmarks does not guarantee the issuance of a Royal Charter. Companies, corporations, and societies in Canada founded under or augmented by a Royal Charter include, Royal Charter was issued in August 1826 to purchase and develop lands. Purchased the Crown Reserve of 1,384,413 acres, cities under Royal Charter are not subject to municipal Acts of Parliament applied generally to other municipalities, and instead are governed by legislation applicable to each city individually. The Royal Charter codifies the laws applied to the particular city, the Universitys Pontifical Charter was granted by Pope Leo XIII in 1889. Several Canadian private schools were founded or reconstituted under Royal Charter, the Royal Gibraltar Post Office was granted Royal Charter in 2005. The Royal Hong Kong Jockey Club obtained Royal Charter in 1959 and it is one of the three banknote-issuing banks in Hong Kong. The Royal Asiatic Society Hong Kong Branch Chartered originally in 1847, disbanded 1859, the Institution of Engineers was incorporated by royal charter in 1935. A number of Irish institutions retain the Royal prefix, even though Republic of Ireland severed all remaining connections between the state and the British monarch in 1949, the University of South Africa received a Royal Charter in 1877
10.
Parliament of Ireland
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The Parliament of Ireland was a legislature that existed in Dublin from 1297 until 1800. It comprised two chambers, the House of Commons and the House of Lords, the House of Lords consisted of members of the Irish peerage and the bishops, while the Commons was directly elected, albeit on a very restricted franchise. The main purpose of parliament was to approve taxes that were levied by. Those who would pay the bulk of taxation, the clergy, merchants and landowners, in 1541 the parliament voted to create the Kingdom of Ireland. However, this Irish Parliament was a meeting of Irish nobles and bishops, later, in the 15th century, Irish parliaments began to invite representatives of the people. Among its most famous meeting places were Dublin Castle, the Bluecoat School, Chichester House and, its permanent home. The Irish Parliament was formally founded in 1297 by the Justiciar, John Wogan, to represent the Irish, in 1292 a less formal assembly of unelected nobles and merchants had raised £10,000, known as the lay subsidy. This tax was a fifteenth of the net worth of the chattels of wealthier citizens, the poor, the Parliament arose from and for citizens of the Lordship of Ireland, based on Norman laws and English practices. Magna Carta was extended in 1217 in the Great Charter of Ireland, alongside this reduced control grew a Gaelic resurgence that was political as well as cultural. In turn this resulted in numbers of the Anglo-Irish Old English nobility joining the independent Gaelic nobles in asserting their feudal independence. Eventually the crowns power shrank to a fortified enclave around Dublin known as the Pale. The Parliament thereafter became essentially the forum for the Pale community until the 16th century, the role of the Parliament changed after 1541, when Henry VIII declared the Kingdom of Ireland and embarked on the Tudor conquest of Ireland. Initially in 1537, the Irish Parliament approved both the Act of Supremacy, acknowledging Henry VIII as head of the Church and the dissolution of the monasteries, the Plantation of Ulster allowed English and Scottish Protestant candidates in as representatives of the newly formed boroughs in planted areas. Initially this gave Protestants a majority of 132-100 in the House of Commons, in the House of Lords the Catholic majority continued until the 1689 Patriot Parliament, with the exception of the Commonwealth period. Following the death of Cromwell and the end of the Protectorate, then, during the reign of James II of England, who had converted to Roman Catholicism, Irish Catholics briefly recovered their pre-eminent position as the crown now favoured their community. When James was overthrown in England, he turned to his Catholic supporters in the Irish Parliament for support, nonetheless, the franchise was still available to wealthier Catholics. Until 1728, Catholics voted in House of Commons elections and held seats in the Lords, for no particular reason, beyond a general pressure for Catholics to conform, they were barred from voting in the election for the first parliament in the reign of George II. Privileges were also limited to supporters of the Church of Ireland
11.
Hodges Figgis
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Hodges Figgis is a bookshop located on Dawson Street, Dublin. It was founded in 1768, and is mentioned in passing in James Joyces novel Ulysses, the shop briefly housed a coffee shop on the first floor, but this was removed in 2002 during renovations to allow expansion of the space used for the shelving of stock. Hodges Figgis also operate the student bookshop in Dublin City University, for some time in the late 19th and in the 20th century, the company also published a number of books, often on Irish topics. Hodges Figgis is now owned by Waterstones and it has been mentioned in The Wall Street Journal
12.
Blackwell UK
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Blackwell UK, also known as Blackwells and Blackwell Group, is a British academic book retailer and library supply service. It was founded in 1879 by Benjamin Henry Blackwell, after whom the chain is named, the firm now has a chain of 45 shops, and an accounts and library supply service. It employs around 1000 staff in its divisions, the group were also publishers, under the Blackwell publishing imprint which published over 800 journals when it was sold to John Wiley & Sons in 2007 for £572 million to form Wiley-Blackwell. The Blackwell family have run the company since its foundation, with an ownership divided between voting shares owned by the family and wealth shares owned by family and others. Other family voting shares are held by a trust, which Tobys shares will transfer to when he dies, the company reported it was expecting to return to profit in 2012. The company was founded in 1879 by Benjamin Henry Blackwell, son of the first city librarian and his father, Benjamin Harris Blackwell, had been heavily involved in the Temperance Society. The society promoted, as well as religion, self-education and also encouraged reading, the society provided separate rooms for non-alcoholic refreshment and silent reading. The flagship shop at no.50 Broad Street, Oxford, was only twelve feet square but quickly grew to incorporate the upstairs, cellar. Benjamin Henry Blackwell was well respected in Oxford and was elected the first Liberal councillor for Oxford North, Basil Blackwell, Benjamin Henrys son, became the first Blackwell to go to university, he was awarded a scholarship at Oxford Universitys Merton College. He was expected to join the firm, however, which he did in 1913. He was tasked with expanding his fathers publishing business, the first Blackwell publication, Mensæ Secundæ, verses written in Balliol College by H. C. Blackwells began the careers of writers, J. R. R. Tolkiens first poem. To promote universal access to literature, Blackwells pioneered a series of cheaper books, the publishing company was merged into the main company in 1921, and a scientific section was added in 1939. When Benjamin Henry died in 1924, Basil Blackwell took over from his father, Basil Blackwell also wanted to preserve fine printing. In 1966, the Norrington Room was opened, named after Sir Arthur Norrington and it boasts three miles of shelving and at 10,000 square feet merited an entry in the Guinness Book of Records as the largest single room selling books. The company has followed a determined policy since the 1990s to spread out from its traditional Oxford base, Blackwells took over the Heffers bookshops in Cambridge in 1999, and in 2002 acquired the academic bookshops of James Thin in Scotland. Blackwells now has over 60 retail outlets across the UK, including a number of medical and other specialist bookshops, both the Oxford and London flagship shops have won Bookseller of the Year at the British Book Awards. The company is still in the hands of the Blackwell family, support for its activities, including Blackwells Online, is based at Beaver House in Oxford
13.
Daniel O'Connell
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Daniel OConnell, often referred to as The Liberator or The Emancipator, was an Irish political leader in the first half of the 19th century. OConnell was born at Carhan near Cahersiveen, County Kerry, to the OConnells of Derrynane, a once-wealthy Roman Catholic family, among his uncles was Daniel Charles, Count OConnell, an officer in the Irish Brigades of the French Army. A famous aunt was Eibhlín Dubh Ní Chonaill, while Sir James OConnell, in his early years, he became acquainted with the pro-democracy radicals of the time and committed himself to bringing equal rights and religious tolerance to his own country. While in Dublin studying for the law, OConnell was under his Uncle Maurices instructions not to become involved in any militia activity, when Wolfe Tones French invasion fleet entered Bantry Bay in December 1796, OConnell found himself in a quandary. Politics was the cause of his unsettlement and he desired to enter Parliament, yet every allowance that the Catholics had been led to anticipate, two years previously, was now flatly vetoed. As a law student, OConnell was aware of his own talents and he read the Jockey Club as a picture of the governing class in England and was persuaded by it that, vice reigns triumphant in the English court at this day. The spirit of liberty shrinks to protect property from the attacks of French innovators, the corrupt higher orders tremble for their vicious enjoyments. Later that month, for the sake of expediency, he joined the Lawyers Artillery Corps, on 19 May 1798, OConnell was called to the Irish Bar and became a barrister. Four days later, the United Irishmen staged their rebellion which was put down by the British with great bloodshed, OConnell did not support the rebellion, he believed that the Irish would have to assert themselves politically rather than by force. He went on the Munster circuit, and for over a decade, although he was ultimately to inherit Derrynane from his uncle Maurice, the old man lived to be almost 100 and in the event Daniels inheritance did not cover his debts. He also condemned Robert Emmets Rebellion of 1803, of Emmet, a Protestant, he wrote, A man who could coolly prepare so much bloodshed, so many murders—and such horrors of every kind has ceased to be an object of compassion. He was noted for his fearlessness in Court, if he thought poorly of a judge he had no hesitation in making this clear, OConnell returned to politics in the 1810s. In 1811, he established the Catholic Board, which campaigned for Catholic emancipation, that is, the opportunity for Irish Catholics to become members of parliament. In 1823, he set up the Catholic Association which embraced other aims to better Irish Catholics, such as, electoral reform, reform of the Church of Ireland, tenants rights, and economic development. The Association was funded by membership dues of one penny per month, the subscription was highly successful, and the Association raised a large sum of money in its first year. The money was used to campaign for Catholic emancipation, specifically funding pro-emancipation members of parliament standing for the British House of Commons. Members of the Association were liable to prosecution under a statute. OConnell was often briefed for the defence, and showed extraordinary vigour in pleading the rights of Catholics to argue for emancipation, in 1815 a serious event in his life occurred
14.
Williams & Glyn's Bank
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Williams & Glyns Bank Limited was established in London in 1970, when the Royal Bank of Scotland merged its two subsidiaries in England and Wales, Williams Deacons Bank Ltd. and Glyn, Mills & Co. In 1985, Williams & Glyns was fully absorbed into the Royal Bank of Scotland, the London private bank of Williams Deacon & Co can date its history back to 1771 when the partnership of Raymond, Williams, Vere, Lowe and Fletcher was first recorded. It ceased payment in 1825 and was reconstituted with different shareholders as Williams, Deacon, Labouchere & Co and it was acquired by the Manchester & Salford Bank in 1890. The Manchester & Salford Bank was founded in 1836 as a joint stock bank and became a force in Lancashire banking. In that year it acquired Williams Deacon, primarily to obtain the seat on the London Clearing House. The registered office was moved to London but the office remained in Manchester. The bank also changed its name to Williams Deacon & Manchester & Salford Bank, Glyn, Mills & Co. was founded as the private bank, Vere, Glyn & Hallifax, in the City of London in 1753 by Joseph Vere, Richard Glyn and Thomas Hallifax. The Vere family interest ended in 1766, William Mills joined in 1772, acquisitions included Curries in 1864, Holt & Co. in 1923 and Child & Co. in 1924. Child & Company, founded in the 1580s, remains part of RBS Group Wealth Management today, in 1923, it also acquired the private military bank Holt & Co. founded in 1809, which continued to trade separately until merged into the Drummonds Bank business in 1992. In 1939, the bank was purchased by Royal Bank of Scotland, the National Bank of Ireland was founded in London in 1835, becoming The National Bank Limited in 1859. The banks core Irish business was divested to the Governor and Company of the Bank of Ireland as National Bank of Ireland in 1966, the remaining branches in England and Wales were acquired by National Commercial Bank of Scotland, although they continued to trade separately. In 1972, Williams & Glyns and five other banks formed the Inter-Alpha Group of Banks, of which RBS Group remains a member, in 2000, the Royal Bank of Scotland Group acquired National Westminster Bank in a hostile takeover. The process was expected to take up to four years to complete, santander withdrew from the sale on 12 October 2012. In September 2013, the group confirmed it had reached an agreement to sell 314 branches to the Corsair consortium, made up of private equity firms and a number of institutional investors. It was announced in 2013 that the new bank would be known as Williams & Glyn, owing to the difficulty of using an apostrophe in branding and website addresses
15.
Automated teller machine
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According to the ATM Industry Association, there are now close to 3 million ATMs installed worldwide. Authentication is provided by the customer entering a personal identification number which must match the PIN stored in the chip on the card or in the financial institutions database. Using an ATM, customers can access their deposit or credit accounts in order to make a variety of transactions such as cash withdrawals, check balances. If the currency being withdrawn from the ATM is different from that in which the account is denominated the money will be converted at an official exchange rate. Thus, ATMs often provide the best possible exchange rates for foreign travellers, the idea of out-of-hours cash distribution developed from bankers needs in Asia, Europe and North America. Little is known of the Japanese device other than it was called Computer Loan Machine, the device was operational in 1966. In the US patent record, Luther George Simjian has been credited with developing a prior art device, specifically his 132nd patent, which was first filed on 30 June 1960. The roll-out of this machine, called Bankograph, was delayed by a couple of years, an experimental Bankograph was installed in New York City in 1961 by the City Bank of New York, but removed after six months due to the lack of customer acceptance. The Bankograph was an automated envelope deposit machine and did not have cash dispensing features and it is widely accepted that the first ATM was put into use by Barclays Bank in its Enfield Town branch in north London, United Kingdom, on 27 June 1967. This machine was inaugurated by English comedy actor Reg Varney and this instance of the invention is credited to the engineering team led by John Shepherd-Barron of printing firm De La Rue, who was awarded an OBE in the 2005 New Year Honours. Shepherd-Barron stated, It struck me there must be a way I could get my own money, I hit upon the idea of a chocolate bar dispenser, but replacing chocolate with cash. The Barclays-De La Rue machine beat the Swedish saving banks and a company called Metiors machine by a nine days. The online version of the Swedish machine is listed to have been operational on 6 May 1968, the collaboration of a small start-up called Speytec and Midland Bank developed a fourth machine which was marketed after 1969 in Europe and the US by the Burroughs Corporation. The patent for this device was filed on September 1969 by John David Edwards, Leonard Perkins, John Henry Donald, Peter Lee Chappell, Sean Benjamin Newcombe & Malcom David Roe. Both the DACS and MD2 accepted only a token or voucher which was retained by the machine while the Speytec worked with a card with a magnetic stripe at the back. They used principles including Carbon-14 and low-coercivity magnetism in order to make more difficult. The idea of a PIN stored on the card was developed by a British engineer working on the MD2 named James Goodfellow in 1965, the essence of this system was that it enabled the verification of the customer with the debited account without human intervention. This patent is also the earliest instance of a complete currency dispenser system in the patent record and this patent was filed on 5 March 1968 in the US and granted on 1 December 1970
16.
Royal Bank of Scotland
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Royal Bank of Scotland, commonly abbreviated as RBS, is one of the retail banking subsidiaries of The Royal Bank of Scotland Group plc, together with NatWest and Ulster Bank. The Royal Bank of Scotland has around 700 branches, mainly in Scotland though there are branches in many towns and cities throughout England. The Equivalent Society became the Equivalent Company in 1724, and the new company wished to move into banking, the British government received the request favourably as the Old Bank, the Bank of Scotland, was suspected of having Jacobite sympathies. Accordingly, the New Bank was chartered in 1727 as the Royal Bank of Scotland, with Archibald Campbell, Lord Ilay, on 31 May 1728, the Royal Bank of Scotland invented the overdraft, which was later considered an innovation in modern banking. It allowed William Hogg, a merchant in the High Street of Edinburgh, competition between the Old and New Banks was fierce and centred on the issue of banknotes. The policy of the Royal Bank was to drive the Bank of Scotland out of business. The Royal Bank built up large holdings of the Bank of Scotlands notes, to pay these notes, the Bank of Scotland was forced to call in its loans and, in March 1728, to suspend payments. Despite talk of a merger with the Bank of Scotland, the Royal Bank did not possess the wherewithal to complete the deal. By September 1728, the Bank of Scotland was able to start redeeming its notes again, with interest, the bank opened its first branch office outside Edinburgh in 1783 when it opened one in Glasgow, in part of a drapers shop in the High Street. Further branches were opened in Dundee, Rothesay, Dalkeith, Greenock, Port Glasgow, in 1821, the bank moved from its original head office in Edinburghs Old Town to Dundas House, on St. Andrew Square in the New Town. The building as seen along George Street forms the end of the central vista in New Town. It was designed for Sir Lawrence Dundas by Sir William Chambers as a Palladian mansion, an axial banking hall behind the building, designed by John Dick Peddie, was added in 1857, it features a domed roof, painted blue internally, with gold star-shaped coffers. The banking hall continues in use as a branch of the bank, the rest of the nineteenth century saw the bank pursue mergers with other Scottish banks, chiefly as a response to failing institutions. The assets and liabilities of the Western Bank were acquired following its collapse in 1857, by 1910, the Royal Bank of Scotland had 158 branches and around 900 staff. In 1969, the merged with the National Commercial Bank of Scotland to become the largest clearing bank in Scotland. The first London branch of the Royal Bank of Scotland opened in 1874, an agreement was reached, under which English banks would not open branches in Scotland and Scottish banks would not open branches in England outside London. This agreement remained in place until the 1960s, although various cross-border acquisitions were permitted, the latter two were merged in 1970 to form Williams and Glyns Bank, but not rebranded as the Royal Bank of Scotland until 1985. Also in 2011, Royal Bank of Scotland prevented Basic Account holders from using the ATMs of most rival banks, in June 2012, computer problems prevented customers accessing accounts
17.
Citizens Financial Group
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Several banks are commonly known as Citizens Bank. RBS sold its final 20. 9% stake in the company in October 2015, as of 2015, Citizens is the 13th-largest bank in the United States, and operates more than 1,200 branches and approximately 3,200 ATMs across 11 states under the Citizens Bank brand. Citizens was established in 1828 as the High Street Bank in Providence, in 1871, the Rhode Island legislature gave a second charter to establish the Citizens Savings Bank which eventually acquired its parent group to form Citizens Trust Company. The bank then expanded through Rhode Island, opening a total of 29 branches in that state and it established Citizens Financial Group as a holding company when the bank acquired The Greenville Trust Company in 1954. In 1985, Citizens changed status from a savings bank to a federal stock savings bank. Expansion into other states began with Massachusetts in 1986, in 1988, Citizens accepted a takeover bid from the Royal Bank of Scotland, based in Scotland, which used Citizens Bank as a stepping stone into the US market. In the following sixteen years under RBS ownership, Citizens acquired several banks in New England to become the second largest bank in the region. Its 1996 acquisition of First NH Bank saw the Bank of Ireland gain a 23. 5% stake in Citizens, expansion outside New England began in 2001, when RBS purchased the retail banking division of Mellon Financial Corporation in Pennsylvania, New Jersey and Delaware. In one stroke, this made Citizens Bank the second-largest bank in Pennsylvania, in July 2003, the bank purchased the naming rights to the new home field of the Philadelphia Phillies, calling it Citizens Bank Park. On January 17,2003, Citizens Financial Group, Inc. purchased Commonwealth Bancorp, Inc. the holding company for Commonwealth Bank, based in Norristown, in 2004, RBS purchased the credit card division of Connecticut-based Peoples Bank. This purchase allowed Citizens to issue and market its own credit cards, in late 2004, Citizens Financial acquired Cleveland-based Charter One Bank for US$10.5 billion, with branches in Illinois, Ohio, Indiana, Michigan, upstate New York, and Vermont. On September 1,2007, the banks under Citizens Financial Group, excluding Citizens Bank of Pennsylvania, merged into RBS Citizens. In late 2004, Citizens Financial acquired Cleveland-based Charter One Financial, parent company of Charter One Bank, with branches in Illinois, Ohio, Indiana, Michigan, upstate New York, however, it rebranded the New York and Vermont branches as Citizens Bank. Despite the use of the different names, the two banks were otherwise the same, Charter One was fully integrated into Citizens, and adopted an identical logo. The websites for both banks were identical, with the difference being the name. Citizens customers could bank at Charter One locations and vice versa, in early 2005, the Charter One name replaced the Citizens Bank banner on seven branches in Butler County, Pennsylvania. This rebranding resolved a 3½-year-old name dispute with Butler-based Citizens National Bank, by mid-2005, Citizens National and Citizens Financial agreed to a compromise. Citizens National Bank changed its name to NexTier Bank, while the Citizens Financial Group branches reverted to the Citizens Bank name, in 2003, Charter One purchased Advance Bank, Inc. with 14 branches in Chicagos southern suburbs
18.
Bristol and West
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Bristol & West was a former building society in the United Kingdom, one of the first to be demutualised to become a commercial bank. It became a division of the Bank of Ireland in 1997, Bristol & West had its headquarters in Bristol, England. The Bristol & West name has since replaced by the Bank of Ireland brand. The Building society was founded in 1850 as the Bristol, West of England and it offered mortgages in the Bristol and the south west of England area and became a well known institution in the region. In 1997 Bristol & West demutualised and was sold to Bank of Ireland, becoming a division of the bank but maintaining its operations and branch network under the Bristol & West brand. The UKs Financial Services Authority fined the Bristol & West subsidiary Chase de Vere Financial Solutions for the approval, in 2005, Bristol & West sold its savings and investment business to the Britannia Building Society. The deal also included Bristol & Wests branch network, as well as its direct savings business for an estimated £80 million, in 2007 the estimated profit from this mortgage venture was £52 million. Following the financial crisis of 2007–08 the bank suffering large losses, Bank of Ireland now only offer residential mortgages in the U. K. through the Post Office brand
19.
Alliance & Leicester
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Alliance & Leicester plc was a UK-based bank and former building society, formed by the merger in 1985 of the Alliance Building Society and the Leicester Building Society. The business demutualised in 1997 when it was floated on the London Stock Exchange and it was listed in the FTSE250 Index, and had been listed in the FTSE100 Index from April 1997 until June 2008. The bank was acquired by the Santander Group in October 2008 and it was fully integrated and rebranded as Santander by late 2011. The banks international subsidiary based in Douglas, Isle of Man, Alliance & Leicester International, the former building society was formed by the merger of the Alliance Building Society and the Leicester Building Society on 1 October 1985. In 1990, the society acquired Girobank, a provider of cash-handling services to the government and large companies and current accounts. With other large building societies such as Halifax and Woolwich, Alliance & Leicester decided to float on the London Stock Exchange, flotation took place on 21 April 1997. Alliance & Leicester had to be offered a secret £3 billion credit line by HM Treasury in November 2007 to prevent insolvency, on 14 July 2008 the board of A&L recommended that shareholders accept a takeover bid from Banco Santander for around £1.26 billion. This recommendation was ratified by shareholders at meetings on 16 September 2008, the takeover took effect on 10 October 2008 when shares of the company were delisted from the London Stock Exchange. Until this time Alliance & Leicester was as an institution with its own banking licence while at the same time migrating customer accounts to the Partenon software system. Abbey and the Bradford & Bingley savings business were rebranded in January 2010, branches of Alliance & Leicester were rebranded at the end of 2010. The four business sectors were mortgage lending and investments, personal banking, commercial banking, Alliance & Leicester provided current accounts, general insurance, life assurance, unit trusts, asset financing and commercial lending. The bank also operated Alliance & Leicester Commercial Bank, credit cards were also provided through a partnership with MBNA until the acquisition by Santander. Cards were subsequently reissued with MBNA branding, while Alliance & Leicester began solely providing Santander branded credit cards, selected investment products were also provided, together with those from Legal & General, which the bank had a partnership with. Alliance & Leicester operated a subsidiary based on the Isle of Man
20.
Britannia Building Society
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Britannia is a former mutual building society which merged with The Co-operative Banking Group in 2009. It is now a name of the Co-operative Bank in the United Kingdom. Britannia was headquartered in Leek, Staffordshire, and was the second largest building society in the UK based on assets of £36.8 billion at 31 December 2007. It became an important provider of both mortgages and savings, as well as commercial lending, Britannia was legally dissolved as a separate organisation on 1 August 2009 and merged into Co-operative Financial Services, to become a trading name of The Co-operative Bank. In January 2013, the Co-operative announced that the brand would be phased out by the end of 2013, however, the Co-operative Banks own financial crisis resulted in the original plans being abandoned. Instead many Britannia branches were closed, and only a number were retained and rebranded. Britannia traces its history back to 1856, when the Leek, by 1857, the Society had 204 members and by 1921, it had assets in excess of £1m. A further merger in 1975 with the Oldbury Britannia Building Society saw the change of name to Britannia, the most recent acquisition was the deposit base and branch network of former building society Bristol & West from Bank of Ireland in May 2005. This was the first major re-mutualisation in the United Kingdom and brought membership of the society to just under three million. Bank of Ireland retained ownership of the Bristol & West brand, on 21 January 2009 Co-operative Financial Services and Britannia Building Society proposed a merger, first mooted in October 2008. On 29 April 2009 Britannia members voted overwhelmingly to become part of Co-operative Financial Services, CFS, which incorporated the Co-operative Bank and Co-operative Insurance Society, was itself a subsidiary of the Co-operative Group, the largest consumer co-operative in the world. On 1 August 2009 Britannia Building Society was legally dissolved and Neville Richardson, its last Chief Executive, the Britannia group of companies includes the following principal subsidiary undertakings, Britannia International Limited Britannia Treasury Services Ltd. Platform Home Loans Ltd. subprime mortgage loans for the use of UK intermediaries only Western Mortgage Services Ltd, a former member of the Building Societies Association and the Council of Mortgage Lenders, Britannia also subscribes to the Financial Ombudsman Service. In 1999, Britannia was one of seven building societies unsuccessfully targeted by so-called carpetbagger Michael Hardern, on the merger with Co-operative Financial Services, members of the former Britannia Building Society became members of the Co-operative Group. The membership reward scheme was replaced with the Co-operative Membership scheme on 31 December 2009, Britannia were official sponsors of Stoke City F. C. who play in the Premier League and lend their name to the stadium. They also sponsor Ipswich Town F. C. s west stand at Portman Road, Britannia Staff Union UIA Mutual Britannia Building Society Co-operative Financial Services
21.
2009 Bank of Ireland robbery
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The 2009 Bank of Ireland robbery was a large robbery of cash from the College Green cash centre of the Bank of Ireland in Dublin, Republic of Ireland, on 27 February 2009. It was the largest bank robbery in the Republic of Irelands history, a manhunt is under way for the perpetrators, with seven people being arrested and €1.8 million of the stolen cash located, scattered across Dublin, on 28 February. The woman and her mother were out shopping together, when they arrived home with the five-year-old nephew of Travers, six heavily built masked men, dressed in black and carrying handguns, jumped from the bushes. The family was held overnight by the gang, during which time their mobile phones were confiscated. As dawn was arriving, the gang ordered all but Travers to enter their dark Volkswagen Golf family car and they were then bound together and driven to Ashbourne, County Meath. Travers drove to Dublin in his red Toyota Celica car, acquired the cash through the assistance of colleagues who viewed the photo and he took it to Clontarf Road railway station, whereupon he surrendered the cash and his sports car to a waiting gang member. Travers then entered a station, the first point at which gardaí were notified that the robbery had taken place. One hour after this, the family members succeeded in freeing themselves. Travers girlfriend required immediate medical treatment for a wound she had received during a struggle with her captors. Traverss car was found burned out in an apartment block near Tolka House Pub in Glasnevin. He also questioned how such a sum of money could be taken as a result of one man being targeted. He has remarked, Criminals are going for the line of least resistance, given the fact there is so much detailed technology available to financial institutions, the line of least resistance is the human being. I am sure this incident will raise concerns and our best defence is to follow tried and tested procedures. I would ask everybody to remind themselves of these procedures, which are there to protect you, your families, the attack caused Charlie Flanagan, a Teachta Dála, to remark that tiger kidnappings are taking place in Ireland. At a rate of almost one per week, €1.8 million of the stolen cash was recovered and seven people were arrested by gardaí in a number of incidents on 28 February. A house in Phibsboro was sealed off and ten houses were searched. A total of five cars and one van were seized by gardaí, one of the men was arrested following a chase along the M50 near the Navan road, with two bales of packed cash being discovered in his car. Four other men were arrested in a car in Monk Place and in Great Western Square, Phibsboro, cash was also found in a car in Phibsboro
22.
Oliver Wyman
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Oliver Wyman is an international management consulting firm with a large focus on banking and financial services. Founded in 1984, the firm adopted its current form in May 2007, as of fiscal year 2016, it was the fourth biggest management consulting firm in the world in terms of revenue, ranking just below the Big Three. It is part of the Oliver Wyman Group, a unit of Marsh & McLennan. The company is headquartered in New York City with 50+ offices in the Americas, Europe and Asia Pacific and employs over 4,000 professionals. In 1984, Oliver, Wyman & Company, the first of three companies that would become Oliver Wyman, was founded by Alex Oliver and Bill Wyman - former partners from Booz Allen Hamilton. In 2003, Oliver, Wyman & Company was bought by Marsh & McLennan Companies, the company specialized in working with banks, insurance and financial services companies. C. in 1972 and acquired by MMC in 1989. The two companies merged in 1990 as Temple, Barker & Sloane/Strategic Planning Associates, which was renamed Mercer Management Consulting in 1992, the company specialized in management consulting for industry and services. Mercer Delta was founded in New York in 1980 by David Nadler as Delta Consulting and was acquired by MMC in 2000, the company was known for organizational transformation, board effectiveness and CEO leadership development. S. The firm made similar recommendations to UBS, which expanded its CDO portfolio, in May 2007, Oliver Wyman was formed when parent MMC combined Mercer Oliver Wyman, Mercer Management Consulting and Mercer Delta. In 2008, the company acquired several consulting firms, including, ChapterHouse, Academee, Hemeria, Celent, gordon Lippincott and architect Walter Margulies Oliver Wyman has more than 60 offices in 27 countries. Oliver Wyman in 2007 named Anglo Irish Bank as the best company in shareholder performance according to its proprietary assessment, in its report, Oliver Wyman lauded the banks rapid growth of business lending, by an annual compound growth rate of 38% over 10 years. In the following year, the Irish Government was forced to nationalise the Bank at a cost of €25 billion, the Irish bank was liquidated in 2013 by the Irish government. Volume-to-Value Revolution, a report depicting the current state of the healthcare industry, energy Journal, a report reviewing trends effecting the energy industry. Women in Financial Services, a study reviewing the gender mix of staff at 150 financial services firms. Oliver Wyman Group partners with organizations that work to improve the lives of people in the developing world through microfinance, healthcare. Alliances with non-profits include, Kiva. org - the person-to-person microlending website, room to Read – an international non-profit organization devoted to breaking the poverty cycle by providing educational resources and opportunities to underprivileged children in the developing world. Under the Oliver Wyman for Society program, the company reportedly has offered over 100 fellowships to associates who want to apply their management skills to non-profits. J. Randolph Babbitt, Former Administrator, Federal Aviation Administration Lisa Gardner, Best-selling crime novelist Richard Lui, American journalist, previously a news anchor at CNN Worldwide
23.
European Commission
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Commissioners swear an oath at the European Court of Justice in Luxembourg, pledging to respect the treaties and to be completely independent in carrying out their duties during their mandate. The Commission operates as a government, with 28 members of the Commission. There is one member per state, but members are bound by their oath of office to represent the general interest of the EU as a whole rather than their home state. One of the 28 is the Commission President proposed by the European Council, the current Commission is the Juncker Commission, which took office in late 2014. The procedural languages of the Commission are English, French and German, the Members of the Commission and their cabinets are based in the Berlaymont building in Brussels. The first Commission originated in 1951 as the nine-member High Authority under President Jean Monnet, the High Authority was the supranational administrative executive of the new European Coal and Steel Community. It took office first on 10 August 1952 in Luxembourg, in 1958 the Treaties of Rome had established two new communities alongside the ECSC, the European Economic Community and the European Atomic Energy Community. However their executives were called Commissions rather than High Authorities, the reason for the change in name was the new relationship between the executives and the Council. Some states such as France expressed reservations over the power of the High Authority, louis Armand led the first Commission of Euratom. Walter Hallstein led the first Commission of the EEC, holding the first formal meeting on 16 January 1958 at the Château of Val-Duchesse, Hallstein notably began the consolidation of European law and started to have a notable impact on national legislation. The three bodies, collectively named the European Executives, co-existed until 1 July 1967 when, under the Merger Treaty, the Rey Commission completed the Communitys customs union in 1968 and campaigned for a more powerful, elected, European Parliament. Despite Rey being the first President of the communities, Hallstein is seen as the first President of the modern Commission. The Malfatti and Mansholt Commissions followed with work on monetary co-operation, with that enlargement the Commissions membership increased to thirteen under the Ortoli Commission, which dealt with the enlarged community during economic and international instability at that time. Following the Jenkins Commission, Gaston Thorns Commission oversaw the Communitys enlargement to the south, the Commission headed by Jacques Delors was seen as giving the Community a sense of direction and dynamism. Delors and his team are considered as the founding fathers of the euro. The International Herald Tribune noted the work of Delors at the end of his term in 1992. He arrived when Europessimism was at its worst, although he was a little-known former French finance minister, he breathed life and hope into the EC and into the dispirited Brussels Commission. The successor to Delors was Jacques Santer, the entire Santer Commission was forced to resign in 1999 by the Parliament as result of a fraud and corruption scandal, with a central role played by Édith Cresson
24.
Northern Trust
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The Northern Trust Corporation is an American international financial services company headquartered in Chicago, Illinois. As of June 30,2014, Northern Trust Corporation had $106 billion in banking assets, $6.0 trillion in assets under custody and they are regulated by the Federal Reserve. In March 2010, Forbes magazine ranked Northern Trust as the worlds most admired company in the Superregional Banks category, intimately acquainted with the operations of the bank, these men would personally examine Northerns assets and records at each years end. In October 1929, however, the flamboyant decade of the 1920s came to a sudden stock market crash led to a spectacular drop in prices, employment. As these troubles swept across the country, one bank after another closed, two days after his inauguration on March 6,1933, Franklin D. Roosevelt closed all the banks in the United States. When they reopened a short time later, there was a deal of uncertainty as to what might occur. Fortunately, the people in line outside the Northern bank offices were there to deposit money instead of withdraw it, Northerns conservative policies had served it well during the 1920s. By 1941 nearly half of all the commercial accounts were drawn from outside the Chicago metropolitan area. During World War II, Northern once again took part in the war bond drives. The war created more opportunities for the bank, all sectors of its business expanded, the years after World War II brought even greater prosperity to the bank as it continued to expand its services. Still under the direction of Solomon Smith, management at the bank became more aware of data processing. During the 1950s, Northern was at the forefront of developing numerous automated banking services, when Solomon Smith died in 1963 and his son, Edward Byron Smith, assumed leadership of the bank, assets totaled more than $1 billion. Near the end of the decade, Northern became the first state-chartered bank from Illinois to open an office outside the United States, throughout the 1970s and 80s, Northern Trust acquired companies and expanded into Florida, Arizona, California and Texas. When oil prices dropped suddenly in the early 1980s, many South American nations realized they could not pay off their enormous bank loans, aggressive management, loan reserves, and write-off enabled the bank to restore its asset quality. When company veteran David W. Fox took over, he was only the chief executive in the banks existence. Osborn was named president and chief operating officer in 1993 and became chairman and chief officer, in addition to president. He stepped down as president in 2006 and as CEO on January 1,2008, frederick H. Rick Waddell then became president and CEO. Northern Trust counts over 20% of the U. S. s wealthiest families as its clients, c&IS also offers a commercial banking services, with emphasis on developing and supporting institutional relationships in large and mid-sized corporations, and financial institutions
25.
European Central Bank
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The European Central Bank is the central bank for the euro and administers monetary policy of the eurozone, which consists of 19 EU member states and is one of the largest currency areas in the world. It is one of the worlds most important central banks and is one of the seven institutions of the European Union listed in the Treaty on European Union, the capital stock of the bank is owned by the central banks of all 28 EU member states. The Treaty of Amsterdam established the bank in 1998, and it is headquartered in Frankfurt, Germany. As of 2015 the President of the ECB is Mario Draghi, former governor of the Bank of Italy, former member of the World Bank, the bank primarily occupied the Eurotower prior to, and during, the construction of the new headquarters. The primary objective of the ECB, mandated in Article 2 of the Statute of the ECB, is to price stability within the Eurozone. The ECB has, under Article 16 of its Statute, the right to authorise the issuance of euro banknotes. Member states can issue euro coins, but the amount must be authorised by the ECB beforehand, the ECB is governed by European law directly, but its set-up resembles that of a corporation in the sense that the ECB has shareholders and stock capital. Its capital is €11 billion held by the central banks of the member states as shareholders. The initial capital allocation key was determined in 1998 on the basis of the population and GDP. Shares in the ECB are not transferable and cannot be used as collateral, the European Central Bank is the de facto successor of the European Monetary Institute. The EMI itself took over from the earlier European Monetary Co-operation Fund, the bank was the final institution needed for EMU, as outlined by the EMU reports of Pierre Werner and President Jacques Delors. It was established on 1 June 1998, the first President of the Bank was Wim Duisenberg, the former president of the Dutch central bank and the European Monetary Institute. The French argued that since the ECB was to be located in Germany and this was opposed by the German, Dutch and Belgian governments who saw Duisenberg as a guarantor of a strong euro. Tensions were abated by an agreement in which Duisenberg would stand down before the end of his mandate. Trichet replaced Duisenberg as President in November 2003, there had also been tension over the ECBs Executive Board, with the United Kingdom demanding a seat even though it had not joined the Single Currency. Under pressure from France, three seats were assigned to the largest members, France, Germany, and Italy, Spain also demanded and obtained a seat. Despite such a system of appointment the board asserted its independence early on in resisting calls for interest rates, when the ECB was created, it covered a Eurozone of eleven members. On 1 December 2009, the Treaty of Lisbon entered into force, ECB according to the article 13 of TEU, on 1 November 2011, Mario Draghi replaced Jean-Claude Trichet as President of the ECB
26.
Bank of Scotland
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The Bank of Scotland plc is a commercial and clearing bank based in Edinburgh, Scotland. It was one of the first banks in Europe to print its own banknotes, in June 2006, the HBOS Group Reorganisation Act 2006 was passed by the Parliament of the United Kingdom, allowing the banks structure to be simplified. As a result, The Governor and Company of the Bank of Scotland became Bank of Scotland plc on 17 September 2007, Bank of Scotland has been a subsidiary of Lloyds Banking Group since 19 January 2009, when HBOS was acquired by Lloyds TSB. Although established soon after the Bank of England, the Bank of Scotland was a different institution. John Holland, an Englishman, was one of the banks founders and its first chief accountant was George Watson. The Bank of Scotland was suspected of Jacobite sympathies and its first rival, The Royal Bank of Scotland was formed by royal charter in 1727. This led to a period of competition between the two banks as they set to drive each other out of business. Although the Bank Wars ended in around 1751, competition arose from other sources. In response, the Bank of Scotland itself began to open branches throughout Scotland, the first branch in London opened in 1865. The Western Bank collapsed in 1857, and the Bank of Scotland stepped in with the other Scottish banks to ensure that all Western Banks notes were paid, in the 1950s, the Bank of Scotland was involved in several mergers and acquisitions with different banks. In 1955, the Bank merged with the Union Bank of Scotland, the Bank also expanded into consumer credit with the purchase of Chester based, North West Securities. In 1971, the Bank agreed to merge with the British Linen Bank, the merger saw Barclays Bank acquire a 35% stake in the Bank of Scotland, a stake it retained until the 1990s. The merchant banking division of the Bank of Scotland was relaunched as British Linen Bank, in 1959 Bank of Scotland became the first bank in the UK to install a computer to process accounts centrally. At 11 am on 25 January 1985 the Bank introduced HOBS and this followed a small-scale service operated jointly with the Nottingham Building Society for two years but developed by Bank of Scotland. The new HOBS service enabled customers to access their accounts directly on a television screen, the arrival of North Sea Oil to Scotland in the 1970s allowed the Bank of Scotland to expand into the energy sector. The Bank later used this expertise in finance to expand internationally. The first international office opened in Houston, Texas, followed by more in the United States, Moscow, in 1987, the Bank acquired Countrywide Bank of New Zealand. The Bank later expanded into the Australian market by acquiring the Perth-based Bank of Western Australia, a controversial period in the Banks history was the attempt in 1999 to enter the United States retail banking market via a joint venture with evangelist Pat Robertson
27.
Bank of England
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The Bank of England, formally the Governor and Company of the Bank of England, is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world, after the Sveriges Riksbank, and it was established to act as the English Governments banker and is still one of the bankers for the Government of the United Kingdom. The Bank was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946, in 1998, it became an independent public organisation, wholly owned by the Treasury Solicitor on behalf of the government, with independence in setting monetary policy. The Banks Monetary Policy Committee has a responsibility for managing monetary policy. The Banks Financial Policy Committee held its first meeting in June 2011 as a macro prudential regulator to oversee regulation of the UKs financial sector, the Banks headquarters have been in Londons main financial district, the City of London, on Threadneedle Street, since 1734. It is sometimes known by the metonym The Old Lady of Threadneedle Street or The Old Lady, the busy road junction outside is known as Bank junction. Until 2016, the bank provided banking services as a popular privilege for employees. Englands crushing defeat by France, the dominant naval power, in naval engagements culminating in the 1690 Battle of Beachy Head, England had no choice but to build a powerful navy. No public funds were available, and the credit of William IIIs government was so low in London that it was impossible for it to borrow the £1,200,000 that the government wanted. To induce subscription to the loan, the subscribers were to be incorporated by the name of the Governor, the Bank was given exclusive possession of the governments balances, and was the only limited-liability corporation allowed to issue bank notes. The lenders would give the government cash and issue notes against the government bonds, the £1. 2m was raised in 12 days, half of this was used to rebuild the navy. This helped the new Kingdom of Great Britain – England and Scotland were formally united in 1707 – to become powerful, the power of the navy made Britain the dominant world power in the late 18th and early 19th centuries. The establishment of the bank was devised by Charles Montagu, 1st Earl of Halifax, the plan of 1691, which had been proposed by William Paterson three years before, had not then been acted upon. The Royal Charter was granted on 27 July through the passage of the Tonnage Act 1694, the first governor was Sir John Houblon, who is depicted in the £50 note issued in 1994. The charter was renewed in 1742,1764, and 1781, the Bank moved to its current location in Threadneedle Street in 1734, and thereafter slowly acquired neighbouring land to create the edifice seen today. When the idea and reality of the National Debt came about during the 18th century, the 1844 Bank Charter Act tied the issue of notes to the gold reserves and gave the Bank sole rights with regard to the issue of banknotes. Private banks that had previously had that right retained it, provided that their headquarters were outside London, a few English banks continued to issue their own notes until the last of them was taken over in the 1930s. Scottish and Northern Irish private banks still have that right, the bank acted as lender of last resort for the first time in the panic of 1866
28.
Irish Free State
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The Irish Free State was an independent state established in 1922 under the Anglo-Irish Treaty of December 1921. That treaty ended the three-year Irish War of Independence between the forces of the self-proclaimed Irish Republic, the Irish Republican Army, and British Crown forces, the Free State was established as a Dominion of the British Commonwealth of Nations. It comprised 26 of the 32 counties of Ireland, Northern Ireland, which comprised the remaining six counties, exercised its right under the Treaty to opt out of the new state. W. T. Cosgrave, who had led both of these governments since August 1922, became the first President of the Executive Council, the legislature consisted of Dáil Éireann and Seanad Éireann, also known as the Senate. Members of the Dáil were required to take an Oath of Allegiance, the oath was a key issue for opponents of the Treaty, who refused to take the oath and therefore did not take their seats. Pro-Treaty members, who formed Cumann na nGaedheal in 1923, held a majority in the Dáil from 1922 to 1927. In the first months of the Free State, the Irish Civil War was waged between the newly established National Army and the anti-Treaty IRA, who refused to recognise the state. The Civil War ended in victory for the government forces, with the anti-Treaty forces dumping its arms in May 1923, the anti-Treaty political party, Sinn Féin, refused to take its seats in the Dáil, leaving the relatively small Labour Party as the only opposition party. In 1926, when Sinn Féin president Éamon de Valera failed to have this policy reversed, he resigned from Sinn Féin, Fianna Fáil entered the Dáil following the 1927 general election, and entered government after the Irish general election,1932, when it became the largest party. De Valera abolished the Oath of Allegiance and embarked on a war with Britain. In 1937 he drafted a new constitution, which was passed by a referendum in July of that year, the Free State came to an end with the coming into force of the new constitution on 29 December 1937. Under the new constitution the Irish state was named Ireland, meanwhile, opposition increased to Irelands participation in World War I in Europe and the Middle East. This came about when the Irish Parliamentary Party supported the Allied cause in World War I in response to the passing of the Third Home Rule Bill in 1914. Many people had begun to doubt whether the Bill, passed by Westminster in September 1914 but suspended for the duration of the war, Sinn Féin, the Irish Party and all other Nationalist elements joined forces in opposition to the idea during the Conscription Crisis of 1918. At the same time the Irish Parliamentary lost in support on account of the crisis, Irish republicans felt further emboldened by successful anti-monarchical revolutions in the Russian Empire, the German Empire, and the Austro-Hungarian Empire. The Sinn Féin party, founded by Arthur Griffith in 1905, had espoused non-violent separatism, under Éamon de Valeras leadership from 1917, it campaigned aggressively and militantly for an Irish republic. On 21 January 1919, Sinn Féin MPs, refusing to sit at Westminster, assembled in Dublin and it affirmed the formation of an Irish Republic and passed a Declaration of Independence, the irish people is resolved. To promote the common weal, to re-establish justice, with equal rights and equal opportunity for every citizen
29.
Government of Ireland
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The Government of Ireland is the cabinet that exercises executive authority in the Republic of Ireland. The structure of the Government of Ireland is regulated fundamentally by the Constitution of Ireland, the Government is headed by a prime minister called the Taoiseach. The deputy prime minister is called the Tánaiste, and is nominated by the Taoiseach from among the members of the Government, the Government must consist of between seven and fifteen members, according to the Constitution of Ireland. Every member of the Government must be a member of the parliament of Ireland, no more than two members of the Government may be members of Seanad Éireann, the upper house of the Oireachtas. Therefore, all members of the Government must be members of Dáil Éireann. The Taoiseach, Tánaiste and Minister for Finance must be members of the Dáil, the 7 to 15 Members of Government are generally referred to as The Cabinet. The Taoiseach is nominated by Dáil Éireann, the house of the Oireachtas. Other members of the Government are nominated by the Taoiseach, approved by Dáil Éireann, Members of the government are often styled cabinet ministers, as opposed to Ministers of State, called junior ministers, who are not in the cabinet. A minister is usually in charge of a Department of State, occasionally a minister without portfolio is appointed who is a minister and a member of the Government but not a Minister of the Government. Non members have no voting rights at Cabinet but may participate fully and normally receive circulated Cabinet Papers on the same basis as a full member of Government. The Government is advised by the Attorney General, who is not formally a member of the Government, the Chief Whip may attend meetings of the cabinet, but is not a member of the Government. In addition, the Government can choose other Ministers of State and this person is informally known as a Super Junior Minister. The current Super Junior Ministers are Paul Kehoe and Finian McGrath, Office of the President The Office of President was established by The Constitution. The President is elected directly by the people, the term of office is 7 years and a President may not serve more than 2 terms. The President must reside in or near Dublin, st. Patrick’s Hall, Dublin Castle, is the venue for Inauguration ceremonies, at which each President takes an oath as provided in the Constitution. The President represents all the people when undertaking official engagements at home, the President is Supreme Commander of the Defence Forces. There have been nine different holders of the office – Michael D. Higgins is the current President. The formal powers, the President, who does not have an executive or policy role, exercises them on the advice of the Government. Additional functions can be conferred on the President by law, a special Commission acts whenever the President is absent
30.
Irish House of Lords
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The Irish House of Lords was the upper house of the Parliament of Ireland that existed from medieval times until 1800. It was modelled on the House of Lords of England, with members of the Peerage of Ireland sitting in the Irish Lords, just as members of the Peerage of England did at Westminster. When the Act of Union 1800 abolished the Irish parliament, a subset of Irish peers sat in the House of Lords of the merged Parliament of the United Kingdom. They sat as a group, not as a separate House, from the establishment of the Kingdom of Ireland in 1542 the Lords included a large number of new Gaelic and Norman lords under the policy of surrender and regrant. By 1632 the Lord Baltimore established colonies in Newfoundland and Maryland, in 1634 the campaign to secure The Graces came to a head. Most of these Catholic lords lost their titles in the ensuing 1641 rebellion and these dispossessed lords were regranted their titles after the Restoration of 1660 by the Act of Settlement 1662. Others took the side in the Williamite War in Ireland. By the 1790s most of the Lords personified and wanted to protect the Protestant Ascendancy, by the time of its abolition in 1800 some of the peerages were very ancient, such as the lords Kingsale, created in 1397, and the viscounts Gormanston from 1478. The first Earl of Kildare had been created in 1316, following the Act of Union in 1800, the peerage of Ireland elected just 28 of their number to sit in the United Kingdom House of Lords, described as the representative peers. This practice ended in 1922 with the establishment of the Irish Free State. Other newly created Irish peers, such as Clive of India and Lord Curzon, were able to stand for election to the UK House of Commons, without giving them a seat in the British House of Lords. This was a convenient way of giving a title for reasons of prestige to someone who expected to sit in the British House of Commons. Today the 18th century Irish Parliament building on College Green in Dublin is an office of the commercial Bank of Ireland and visitors can view the Irish House of Lords chamber within the building. The Parliament of Ireland was a legislature, and bills could originate in either the Commons or the Lords. Either house could amend or reject the others proposals, the Lords was the highest court of appeal in Ireland, as the English Lords were in England. However, the controversial British Declaratory Act of 1719 asserted the right of the British Lords to overrule the Irish Lords, the Irish Patriot Party secured the repeal of the Declaratory Act as part of the Constitution of 1782. The House of Lords was presided over by the Lord Chancellor, who sat on the woolsack, sessions were formally opened by the Speech from the Throne by the Lord Lieutenant, who sat on the throne beneath a canopy of crimson velvet. Sessions were generally held at Dublin Castle in the 16th and 17th centuries, until the opening of the Irish Houses of Parliament in the 1730s
31.
Parliament House, Dublin
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Parliament House in Dublin, Ireland, was home to the Parliament of Ireland, and now houses the Bank of Ireland. It is located at College Green, construction started in 1729 and it was the worlds first purpose-built two-chamber parliament house. The current parliament building is Leinster House, most famously, the legal documentation facilitating the Plantation of Ulster had been signed in the house on 16 November 1612. Chichester House was in a state, allegedly haunted and unfit for parliamentary use. In 1727 parliament voted to spend £6,000 on the building of a new building on the site and it was to be the first purpose-built two-chamber parliament building in the world. While building was begun, Parliament moved into the Blue Coat Hospital on Dublins Northside, the foundation stone for the new building was laid on 3 February 1729 by Thomas Wyndham, 1st Baron Wyndham, the Lord Chancellor of Ireland. Pearces design for the new Parliament House was revolutionary, the building was effectively semi-circular in shape, occupying nearly 6,000 m² of ground. Unlike Chichester House, which was set far back from Hoggen Green, the principal entrance consisted of a colonnade of Ionic columns extending around three sides of the entrance quadrangle, forming a letter E. Three statues, representing Hibernia, Fidelity and Commerce stood above the portico, over the main entrance, the royal coat of arms were cut in stone. The building itself underwent extensions by the architect James Gandon, as Pearce had died young, Gandon was responsible for three of Dublins finest buildings, the Custom House, the Four Courts and the Kings Inns. Between 1785 and 1789 he added a new entrance at the east of the building, facing onto Westmoreland Street. Over this, three statues by Edward Smyth were placed, representing Fortitude, Justice and Liberty, a curved wall joined the Pearce entrance to Gandons extension. This did not mark the exterior of the building but masked the uneven joins of some of the extension, as shown in the view at the bottom of this page. The wall, built of granite with inset alcoves, although an instantly recognisable aspect of the building today, bears little resemblance to the building as it was in its parliamentary days. When the Bank of Ireland took over the building, it created an architectural unity by replacing this set of Ionic columns by a curved wall similar to that built on the east side by Gandon. Ionic columns were added to both curved walls, giving the extensions an architectural and visual unity that had been lacking and producing the buildings exterior as it is today. The interior of the house contained one unusual and highly symbolic feature, however, in the new Irish Houses of Parliament the House of Commons was given pride of place, with its octagonal parliamentary chamber located in the centre of the building. In contrast, the smaller House of Lords was given a position nearby
32.
College Green
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College Green is a three-sided plaza in the centre of Dublin. On its northern side is the Bank of Ireland building, which until 1800 was Irelands Parliament House, to its east stands Trinity College Dublin. To its south stands a series of 19th-century buildings that are mostly banks, streets leading onto College Green are Dame Street to the west, Grafton Street to the south, and Westmoreland Street to the north. College Green has been used as a point for major political rallies. In the mid-1990s, United States President Bill Clinton addressed a mass crowd, President Barack Obama spoke there in a major address during his visit to Ireland in May 2011. The area was known as Hoggen Green from the Old Norse word haugr meaning mound. The cemetery at College Green consisted of burial mounds, which are thought to have contained the remains of some of the Norse kings of Dublin. Between Church Lane and Suffolk Street the Norse had their Thing, an assembly and meeting-place, all along College Green, called Hoggen Green by the English, lay their barrows. Hoggen gave its name to the convent of St Mary de Hogges, which stood roughly where the Bank of Ireland is now, and was a major landowner in the area until the Reformation. Two major public monuments stand in College Green, A 19th-century statue of Henry Grattan, one of the members of the old Irish Parliament. Further back stands a statue of patriot Thomas Davis, previously, this was the location of one of Dublins finest equestrian statues, of King William III of England on Horseback, by Grinling Gibbons. It was taken down after it was damaged in an explosion in November 1928. Dalys Club, originally frequented by members of the old Irish Parliament, moved to number 3, College Green, in 1791 and remained there until it closed in the 1820s. College Green now exists as a running from the front gates of Trinity College Dublin to pedestrian traffic lights close to The Central Bank in Dame Street at the junction of Trinity Street. Dubliners often incorrectly identify the street as Dame Street because it continues into Dame Street, College Street which runs from Pearse Street and Westmoreland Street passing railings on the Northern side of Trinity College Dublin is often thought to be College Green. Since July 2009, College Green, during times on working days, has been accessible only to pedestrians, buses, taxis. In February 2016, it was announced that most of College Green would be pedestrianised to create a public space in front of the Bank of Ireland. Statues in Dublin List of streets and squares in Dublin
33.
Edward Lovett Pearce
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Sir Edward Lovett Pearce was an Irish architect, and the chief exponent of palladianism in Ireland. He is thought to have studied as an architect under his fathers first cousin. He is best known for the Irish Houses of Parliament in Dublin, the architectural concepts he employed on both civic and private buildings were to change the face of architecture in Ireland. He could be described as the father of Irish Palladian architecture, following his time in the army, he decided circa 1722, to return to his first career and again began to study architecture, he did this by studying the architectural masterpieces of France and Italy. However it was in the Veneto that he found the style of architecture which was to him most. He made detailed drawings of many of the great villas designed by Palladio which were to serve as the inspiration for his later work and he met in Italy the Florentine architect Alessandro Galilei, who was working from afar on a vast grandiose mansion near Dublin – Castletown. About 1725 Edward married Ann, his own first-cousin, daughter of General Thomas Pearce and they were to have four daughters who inherited great-grandfather Pearces manor of Whitlingham by Norwich, Norfolk. Mary, Mrs Lewis Thomas then Mrs James Slator but mother of Major-General Lewis Thomas, Anne, Mrs Chambre Hallowes, Frances, Mrs Benjamin Lake and Henrietta and he remained a Captain in Colonel Clement Nevilles Dragoons. Castletown House is the largest and one of the most important country houses in Ireland, the mansion was commissioned by William Conolly, a self-made man who had risen from humble origins through astute property dealings to become one of the wealthiest and influential men in Ireland. The original plans were drawn by Alessandro Galilei circa 1718, the new mansion was intended to reflect Connolys political power as Lord Justice of Ireland, Galilei though returned to Italy in 1719, having drawn the plans, but not waiting to see building on the Castletown site commence. In fact work was not to start until 1722, for two years, the project seems to have continued unsupervised, until in 1724, it was taken over by the twenty-five-year-old Edward Lovett Pearce. Just returned to Ireland from Italy, it is likely that Pearce had been working on the plans with Galilei there, hence Pierces connection with Castletown probably predates his return to Ireland. It is possible that it was to oversee the building of Castletown that provided Pearce with the impetus to return home to Ireland, building at Castletown was to continue for the rest of Pearces life. It is not known precisely how much of Castletown is Galileis work, if in Italy Pearce had been employed by Galilei and worked on the plans, then, as was the custom of the time, Pearces work as an employee would have been credited to his master. Galilei was certainly responsible for devising the overall scheme of a principal centre mansion, Castletown was the first house in Ireland designed with this layout. The rigid symmetry of Castletowns classical facades, designed by Galilei was to be typical too of Pearces later work. The interiors and final plans are believed to be the work of Pearce. Such a mansion as Castletown, in Italy, would have been a town Palazzo rather than a country villa
34.
Bicameralism
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A bicameral legislature is one in which the legislators are divided into two separate assemblies, chambers or houses. As of 2015, somewhat less than half of the national legislatures are bicameral. Often, the members of the two chambers are elected or selected using different methods, which vary from country to country and this can often lead to the two chambers having very different compositions of members. However, in many Westminster system parliaments, the house to which the executive is responsible can overrule the other house, some legislatures lie in between these two positions, with one house only able to overrule the other under certain circumstances. For example, one house would represent the aristocracy, and the other would represent the commoners as was the case in the Kingdom of England. Others, such as France under the Ancien Régime had a legislature known as the Estates General, which consisted of separate chambers for the clergymen, the nobility. The Founding Fathers of the United States also favoured a bicameral legislature, the idea was to have the Senate be wealthier and wiser. Benjamin Rush saw this though, and noted that, this type of dominion is almost always connected with opulence, the Senate was created to be a stabilising force, elected not by mass electors, but selected by the State legislators. Senators would be more knowledgeable and more sort of republican nobility—and a counter to what Madison saw as the fickleness. He noted further that the use of the Senate is to consist in its proceeding with more coolness, with system and with more wisdom. Madisons argument led the Framers to grant the Senate prerogatives in foreign policy, an area where steadiness, discretion, the Senate was chosen by state legislators, and senators had to possess a significant amount of property in order to be deemed worthy and sensible enough for the position. In fact, it was not until the year 1913 that the 17th Amendment was passed, as part of the Great Compromise, they invented a new rationale for bicameralism in which the Senate would have states represented equally, and the House would have them represented by population. Many nations with parliaments have to some degree emulated the British three-tier model, nevertheless, the older justification for second chambers—providing opportunities for second thoughts about legislation—has survived. An example of controversy regarding a second chamber has been the debate over the powers of the Canadian Senate or the election of the Senate of France. The relationship between the two chambers varies, in cases, they have equal power, while in others. The first tends to be the case in federal systems and those with presidential governments, the latter tends to be the case in unitary states with parliamentary systems. In the United States both houses of the U. S and this is due to their original location in the two-story building that was to house them. In Canada, the country as a whole is divided into a number of Senate Divisions, each with a different number of Senators, Senators in Canada are not elected by the people but are appointed by the Governor General on the advice of the Prime Minister
35.
John Soane
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Sir John Soane RA was an English architect who specialised in the Neo-Classical style. The son of a bricklayer, he rose to the top of his profession, becoming professor of architecture at the Royal Academy and he received a knighthood in 1831. His best-known work was the Bank of England, a building which had an effect on commercial architecture. He also designed Dulwich Picture Gallery, which, with its galleries, was a major influence on the planning of subsequent art galleries. The museum is described in the Oxford Dictionary of Architecture as one of the most complex, intricate, Soane was born in Goring-on-Thames on 10 September 1753. He was the surviving son of John Soan and his wife Martha. The e was added to the surname by the architect in 1784 on his marriage and his father was a builder or bricklayer, and died when Soane was fourteen in April 1768. He was educated in nearby Reading in a school run by William Baker. After his fathers death Soanes family moved to nearby Chertsey to live with Soanes brother William,12 years his elder, William Soane introduced his brother to James Peacock, a surveyor who worked with George Dance the Younger. Soane began his training as an architect age 15 under George Dance the Younger and joining the architect at his home and office in the City of London at the corner of Moorfields and Chiswell Street. Dance was a member of the Royal Academy and doubtless encouraged Soane to join the schools there on 25 October 1771 as they were free. There he would have attended the lectures delivered by Thomas Sandby. Dances growing family was probably the reason that in 1772 Soane continued his education by joining the household, Soane, a non-swimmer, was going to be with the party but decided to stay home and work on his design for a Triumphal Bridge. By 1777, Soane was living in his own accommodation in Hamilton Street, in 1778 he published his first book Designs in Architecture. He sought advice from Sir William Chambers on what to study, must discover their true beauties, and the secrets by which they are produced. Using his traveling scholarship of £60 per annum for three years, plus an additional £30 travelling expenses for each leg of the journey, Soane set sail on his Grand Tour, his ultimate destination being Rome, at 5,00 am,18 March 1778. His travelling companion was Robert Furze Brettingham, they travelled via Paris and they finally reached Rome on 2 May 1778. Soane wrote home my attention is taken up in the seeing and examining the numerous
36.
Act of Union 1800
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The Acts of Union 1800 united the Kingdom of Great Britain and the Kingdom of Ireland to create the United Kingdom of Great Britain and Ireland with effect from 1 January 1801. Both Acts, though amended, still remain in force in the United Kingdom. Since the 12th century, the King of England had been technical overlord of the Lordship of Ireland, both the Kingdoms of Ireland and England later came into personal union with that of Scotland upon the Union of the Crowns in 1603. In 1707, the Kingdom of England and the Kingdom of Scotland were united into a single kingdom, each Act had to be passed in both the Parliament of Great Britain and the Parliament of Ireland. The Parliament of Ireland had recently gained a measure of legislative independence under the Constitution of 1782. Many members of the Irish Parliament jealously guarded this autonomy and a motion for union was rejected in 1799. Only Anglicans were permitted to become members of the Parliament of Ireland, though the majority of the Irish population were Roman Catholic. In 1793 Roman Catholics regained the right to vote if they owned or rented property worth £2 p. a. The Catholic hierarchy was strongly in favour of union, hoping for rapid emancipation, also the Irish and British parliaments, when creating a regency during King George IIIs madness, gave the Prince Regent different powers. These considerations led Great Britain to decide to attempt merger of the two kingdoms and their parliaments, whereas the first attempt had been defeated in the Irish House of Commons by 109 votes against to 104 for, the second vote in 1800 produced a result of 158 to 115. The Acts of Union were two complementary Acts, namely, The Union with Ireland Act 1800, an Act of the Parliament of Great Britain, and The Act of Union 1800, an Act of the Parliament of Ireland. They were passed on 2 July 1800 and 1 August 1800 respectively and they ratified eight articles which had been previously agreed by the British and Irish Parliaments, Articles I–IV dealt with the political aspects of the Union. The other 84 Irish parliamentary boroughs were disfranchised, all were pocket boroughs, article VI created a customs union, with the exception that customs duties on certain British and Irish goods passing between the two countries would remain for 10 years. Article VII stated that Ireland would have to contribute two-seventeenths towards the expenditure of the United Kingdom, the figure was a ratio of Irish to British foreign trade. Article VIII formalised the legal and judicial aspects of the Union, part of the attraction of the Union for many Irish Catholics was the promise of Catholic Emancipation, allowing Roman Catholic MPs, who had not been allowed in the Irish Parliament. This was however blocked by King George III who argued that emancipating Roman Catholics would breach his Coronation Oath, in the first Parliament of the United Kingdom of Great Britain and Ireland, the members of the House of Commons were not elected afresh. The flag, created as a consequence of the union of the Kingdom of Great Britain and Ireland in 1800, called the Union Flag, it combined the flags of St Georges Cross and the St Andrews Saltire of Scotland with the St Patricks Saltire to represent Ireland. The Irish Constitutional Tradition, Responsible Government and Modern Ireland 1782–1992, gill & Macmillan, Dublin, Ireland,2003
37.
Oireachtas
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The Oireachtas, sometimes referred to as Oireachtas Éireann, is the legislature of Ireland. The directly elected Dáil is by far the more powerful branch of the Oireachtas, the term oireachtas derives from the Old Irish word airech. Its first recorded use as the name of a body was within the Irish Free State. Dáil Éireann, the house, is directly elected under universal suffrage of all Irish and United Kingdom citizens who are resident. An election is held at least once in five years as required by law. However the house can usually be dissolved at any time at the request of the Taoiseach, Dáil elections occur under the system of proportional representation by means of the single transferable vote. The Dáil has had 166 members since 1981, the Seanad is not directly elected but consists of a mixture of members selected in a number of ways. 43 senators are elected by councillors and parliamentarians,11 are appointed by the Taoiseach, the President of Ireland is directly elected once in every seven years, for a maximum of two terms. However, if, as has occurred on a number of occasions, to become law, a bill must first be approved by both the Dáil and in most circumstances the Seanad, and then signed into law by the President. Bills to amend the Constitution must also be approved by the People in a prior to being presented to the President. The powers of the Seanad are in limited to delay rather than veto. It is the Dáil, therefore, that is the tier of the Irish legislature. The Oireachtas has exclusive power to, Legislate, including a power vested in the Dáil of approving the financial resolutions relevant to the budget, however, the courts have allowed the Oireachtas to delegate limited legislative powers to other entities, such as Government Ministers. Propose changes to the constitution, which must then be submitted to a referendum, allow international agreements to become part of the domestic law of the state. Pass certain laws having extraterritorial effect, enact, when it considers a state of emergency to exist, almost any law it deems necessary, with imposition of capital punishment being the only absolutely excluded act in all circumstances. Laws are invalid if, and to the extent that, they contradict the constitution, in the event of a conflict, EU law also takes precedence over acts of the Oireachtas, as is common throughout the European Union. It may not retrospectively criminalise acts that were not illegal at the time they were committed and it may not enact any law providing for the imposition of the death penalty, even during a state of emergency. The Oireachtas has a number of joint committees that include members of both houses and this parliament governed the English-dominated part of Ireland, which at first was limited to Dublin and surrounding cities, but later grew to include the entire island
38.
Leinster House
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Leinster House is the seat of the Oireachtas, the parliament of Ireland. Leinster House was originally the palace of the Dukes of Leinster. Since 1922, it is a complex of buildings, of which the ducal palace is the core. The most recognisable part of the complex, and the face of Leinster House. The societys famous Dublin Spring Show and Dublin Horse Show were held on its Leinster Lawn, facing Merrion Square. The building is the place of Dáil Éireann and Seanad Éireann. Irelands parliament over the centuries had met in a number of locations, most notably in the Irish Houses of Parliament at College Green, next to Trinity College and its medieval parliament consisted of two Houses, a House of Commons and a House of Lords. Irelands senior peer, the Earl of Kildare, had a seat in the Lords, like all the aristocrats of the period, for the duration of the Social Season and parliamentary sessions, he and his family resided in state in a Dublin residence. From the late eighteenth century Leinster House was the Earls official Dublin residence, the building itself was designed by acclaimed architect Richard Cassels. In the history of aristocratic residences in Dublin, no other mansion matched Kildare House for its size or status. When the Earl was made the first Duke of Leinster in 1766, one famous member of the family who occasionally resided in Leinster House was Lord Edward FitzGerald, who became involved with Irish nationalism during the 1798 Rebellion, which cost him his life. With the passage of the Act of Union in 1800, Ireland ceased to have its own parliament, the 3rd Duke of Leinster sold Leinster House in 1815 to the Royal Dublin Society. In 1853 the Great Industrial Exhibition was hosted in its grounds, at the end of the nineteenth century, two new wings were added, to house the National Library of Ireland and the National Museum of Ireland. The Natural History Museum was built on the site, part of this scheme intended to re-clad the house in more attractive Portland stone and extend the portico outwards. The Anglo-Irish Treaty of 1921 provided for the creation of a self-governing Irish dominion, plans were made to turn Royal Hospital Kilmainham, an eighteenth-century former soldiers home in extensive parklands, into a full-time Parliament House. The building was bought outright from the RDS in 1924, a new Senate or Seanad chamber was created in the Dukes old ballroom, while wings from the neighbouring Royal College of Science were taken over as used as Government Buildings. The entire Royal College of Science, which by then had been merged with University College Dublin, was taken over in 1990. Both the National Library and National Museum wings next to Leinster House remain used by as a library, while plans were often made to provide a brand-new parliament house, the Oireachtas has remained permanently located in Leinster House
39.
Pound sterling
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It is subdivided into 100 pence. A number of nations that do not use sterling also have called the pound. At various times, the sterling was commodity money or bank notes backed by silver or gold. The pound sterling is the worlds oldest currency still in use, the British Crown dependencies of Guernsey and Jersey produce their own local issues of sterling, the Guernsey pound and the Jersey pound. The pound sterling is also used in the Isle of Man, Gibraltar, the Bank of England is the central bank for the pound sterling, issuing its own coins and banknotes, and regulating issuance of banknotes by private banks in Scotland and Northern Ireland. Sterling is the fourth most-traded currency in the exchange market, after the United States dollar, the euro. Together with those three currencies it forms the basket of currencies which calculate the value of IMF special drawing rights, Sterling is also the third most-held reserve currency in global reserves. The full, official name, pound sterling, is used mainly in formal contexts, otherwise the term pound is normally used. The abbreviations ster. or stg. are sometimes used, the term British pound is commonly used in less formal contexts, although it is not an official name of the currency. The pound sterling is also referred to as cable amongst forex traders, the origins of this term are attributed to the fact that in the 1800s, the dollar/pound sterling exchange rate was transmitted via transatlantic cable. Forex brokers are sometimes referred to as cable dealers, as another established source notes, the compound expression was then derived, silver coins known as sterlings were issued in the Saxon kingdoms,240 of them being minted from a pound of silver. Hence, large payments came to be reckoned in pounds of sterlings, in 1260, Henry III granted them a charter of protection. And because the Leagues money was not frequently debased like that of England, English traders stipulated to be paid in pounds of the Easterlings, and land for their Kontor, the Steelyard of London, which by the 1340s was also called Easterlings Hall, or Esterlingeshalle. For further discussion of the etymology of sterling, see sterling silver, the currency sign for the pound sign is £, which is usually written with a single cross-bar, though a version with a double cross-bar is also sometimes seen. The ISO4217 currency code is GBP, occasionally, the abbreviation UKP is used but this is non-standard because the ISO3166 country code for the United Kingdom is GB. The Crown dependencies use their own codes, GGP, JEP, stocks are often traded in pence, so traders may refer to pence sterling, GBX, when listing stock prices. A common slang term for the pound sterling or pound is quid, since decimalisation in 1971, the pound has been divided into 100 pence. The symbol for the penny is p, hence an amount such as 50p properly pronounced fifty pence is more colloquially, quite often, pronounced fifty pee /fɪfti, pi and this also helped to distinguish between new and old pence amounts during the changeover to the decimal system
40.
Bristol and West Building Society
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Bristol & West was a former building society in the United Kingdom, one of the first to be demutualised to become a commercial bank. It became a division of the Bank of Ireland in 1997, Bristol & West had its headquarters in Bristol, England. The Bristol & West name has since replaced by the Bank of Ireland brand. The Building society was founded in 1850 as the Bristol, West of England and it offered mortgages in the Bristol and the south west of England area and became a well known institution in the region. In 1997 Bristol & West demutualised and was sold to Bank of Ireland, becoming a division of the bank but maintaining its operations and branch network under the Bristol & West brand. The UKs Financial Services Authority fined the Bristol & West subsidiary Chase de Vere Financial Solutions for the approval, in 2005, Bristol & West sold its savings and investment business to the Britannia Building Society. The deal also included Bristol & Wests branch network, as well as its direct savings business for an estimated £80 million, in 2007 the estimated profit from this mortgage venture was £52 million. Following the financial crisis of 2007–08 the bank suffering large losses, Bank of Ireland now only offer residential mortgages in the U. K. through the Post Office brand
41.
Post Office Ltd
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The company is owned by the British Governments Department for Business, Innovation and Skills, through Postal Services Holding Company Limited. Post Office branches, along with the Royal Mail delivery service, were part of the General Post Office. Post Office Counters Ltd was created as an owned subsidiary of the Post Office corporation in 1986. After the Post Office corporation was renamed Royal Mail Group in 2001, Post Office Ltd has in recent years announced losses, a reported £102 million in 2006. This has raised concerns in the media regarding Post Office Ltds ability as a company to operate efficiently. Plans to cut the subsidy for rural post offices led to the announcement that 2,500 local post offices were to be closed. This announcement resulted in a backlash from local communities that relied on the service, in 2007, the government gave a £1.7 billion subsidy to Royal Mail Group so that it could turn a profit by 2011. This was to be used to invest across the network of Royal Mail, Post Office Ltd. 85 Crown post offices were closed,70 of which were sold to WHSmith and this followed a trial of six Post Office outlets in WHSmith stores. WHSmith was expected to make up to £2.5 million extra in annual profit,2,500 sub-post offices closed between 2008 and 2009. Redundancy packages were provided from public funding, in November 2010, the government committed £1.34 billion of funding up to 2015 to Post Office Ltd to enable it to modernise the Post Office network. As part of the Postal Services Act 2011, Post Office Ltd became independent of Royal Mail Group on 1 April 2012, a ten-year inter-business agreement was signed between the two companies to allow post offices to continue issuing stamps and handling letters and parcels for Royal Mail. The Act also contained the option for Post Office Ltd to become an organisation in the future. On 8 February 2013, Post Office Ltd announced it was planning to move around seventy of its Crown post offices into shops and this would reduce the Crown network, which it stated was losing £40 million a year, to around 300. On 27 November 2013, the government committed an additional £640 million of funding for 2015 to 2018 to allow Post Office Ltd to complete its network modernisation. There are currently around 11,500 post office branches across the UK, the majority of other branches are either run by various franchise partners or local subpostmaster or operators, as sub-postoffices. The Post Office has a variety of services throughout the network of branches. Products and services available vary throughout the network, main post offices generally provide the range of services
42.
Banknotes of Northern Ireland
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Banknotes have been issued for use specifically in Northern Ireland since 1929, and are denominated in pounds sterling. They are legal currency, but technically not legal tender anywhere, however, the banknotes are still widely accepted as currency by larger merchants and institutions elsewhere in the United Kingdom. Issuing banks have been granted rights to issue currency. Notes were initially issued in denominations of 1,5,10,20,50 and 100 pounds, of these denominations, only the 1 pound has ceased to be issued, by all banks with the last produced by the Allied Irish Bank in 1984. The 5 pound note is only issued now by Bank of Ireland, until April 2008, all Bank of Ireland notes featured Queens University of Belfast on the reverse side. A new series of £5, £10 and £20 notes was issued in May 2008, all featuring an illustration of the Old Bushmills Distillery, and these notes will gradually replace the previous series. The various denominations are differentiated by their colour and size,5 pound note, blue 10 pound note, pink 20 pound note, green 50 pound note, First Trust Bank is a subsidiary of the Allied Irish Banks. It was formed by the 1991 merger of AIB with TSB Northern Ireland, AIB was the successor to the Provincial Bank of Ireland following another merger. The banknotes issued by First Trust Bank continue the series issued by the Provincial Bank of Ireland. First Trust Banks current notes have a depiction of a Northern Irish person. A young middle-aged man appears on the £10 note, a woman on the £20 note, an elderly man on the £50 note. The reissue began on 14 March 2005 and was scheduled to take one month, in 2012, Northern Bank adopted the name of its Copenhagen-based parent company Danske Bank Group and now trades as Danske Bank. Northern Bank had previously been a subsidiary of the Midland Bank and subsequently National Australia Bank, most Danske Bank banknotes depict a range of notable people associated with industry in Northern Ireland on the obverse. The reverse of each note has an illustration of the portico of Belfast City Hall and it is the only one of the banks pre-2004 notes still in circulation, all others were recalled following the 2004 robbery. The Isle of Man issued a polymer £1 note between 1983 and 1988, but, technically, the island is a Crown Dependency, and not part of the UK. Ulster Banks current notes all share a rather plain design of a view of Belfast harbour flanked by landscape views, the principal difference between the denominations is their colour and size. Notes issued from 1 January 2007 feature the new logo. It appears beside the name, which appears in a different typeface
43.
Banknotes of the pound sterling
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Sterling banknotes are the banknotes in circulation in the United Kingdom and its related territories, denominated in pounds sterling. One pound is equivalent to 100 pence, three British Overseas Territories also have currencies called pounds which are at par with the pound sterling. The Bank of England does act as a bank in that it has a monopoly on issuing banknotes in England and Wales. Pounds issued by Crown Dependencies and other areas are regulated only by local governments, until the middle of the 19th century, privately owned banks in Great Britain and Ireland were free to issue their own banknotes. Paper currency issued by a range of provincial and town banking companies in England, Wales. Under the Act, no new banks could start issuing notes, the last private English banknotes were issued in 1921 by Fox, Fowler and Company, a Somerset bank. However, some of the provisions of the Bank Charter Act only applied to England. The Bank Notes Act was passed the year, and to this day. Notes issued in excess of the value of outstanding in 1844 must be backed up by an equivalent value of Bank of England notes. Following the partition of Ireland, the Irish Free State created an Irish pound in 1928, in 1928 a Westminster Act of Parliament reduced the fiduciary limit for Irish banknotes circulating in Northern Ireland to take account of the reduced size of the territory concerned. Elizabeth II was not the first British monarch to have her face on UK banknotes. George II, George III and George IV appeared on early Royal Bank of Scotland notes, however, prior to the issue of its Series C banknotes in 1960, Bank of England banknotes generally did not depict the monarch. Today, notes issued by Scottish and Northern Irish banks do not depict the monarch, the monarch is depicted on banknotes issued by the Crown dependencies and on some of those issued by overseas territories. Their acceptance may depend on the experience and understanding of individual retailers, and it is important to understand the idea of legal tender, which is often misunderstood. The assumption that all sterling notes are legitimate and of equal value, in summary, the various banknotes are used as follows, Bank of England banknotes Most sterling notes are issued by the Bank of England. These are legal tender in England and Wales, and are accepted by traders throughout the UK. Bank of England notes are accepted in the Overseas Territories which are at parity with sterling. In Gibraltar, there are examples of pairs of automatic cash dispensers placed together, one stocked with BoE notes, Scottish banknotes These are the recognised currency in Scotland, although they are not legal tender
44.
Northern Ireland
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Northern Ireland is a constituent unit of the United Kingdom in the north-east of Ireland. It is variously described as a country, province, region, or part of the United Kingdom, Northern Ireland shares a border to the south and west with the Republic of Ireland. In 2011, its population was 1,810,863, constituting about 30% of the total population. Northern Ireland was created in 1921, when Ireland was partitioned between Northern Ireland and Southern Ireland by an act of the British parliament, Northern Ireland has historically been the most industrialised region of Ireland. After declining as a result of the political and social turmoil of the Troubles, its economy has grown significantly since the late 1990s. Unemployment in Northern Ireland peaked at 17. 2% in 1986, dropping to 6. 1% for June–August 2014,58. 2% of those unemployed had been unemployed for over a year. Prominent artists and sports persons from Northern Ireland include Van Morrison, Rory McIlroy, Joey Dunlop, Wayne McCullough, some people from Northern Ireland prefer to identify as Irish while others prefer to identify as British. Cultural links between Northern Ireland, the rest of Ireland, and the rest of the UK are complex, in many sports, the island of Ireland fields a single team, a notable exception being association football. Northern Ireland competes separately at the Commonwealth Games, and people from Northern Ireland may compete for either Great Britain or Ireland at the Olympic Games. The region that is now Northern Ireland was the bedrock of the Irish war of resistance against English programmes of colonialism in the late 16th century, the English-controlled Kingdom of Ireland had been declared by the English king Henry VIII in 1542, but Irish resistance made English control fragmentary. Victories by English forces in war and further Protestant victories in the Williamite War in Ireland toward the close of the 17th century solidified Anglican rule in Ireland. In Northern Ireland, the victories of the Siege of Derry and their intention was to materially disadvantage the Catholic community and, to a lesser extent, the Presbyterian community. In the context of open institutional discrimination, the 18th century saw secret, militant societies develop in communities in the region and act on sectarian tensions in violent attacks. Following this, in an attempt to quell sectarianism and force the removal of discriminatory laws, the new state, formed in 1801, the United Kingdom of Great Britain and Ireland, was governed from a single government and parliament based in London. Between 1717 and 1775 some 250,000 people from Ulster emigrated to the British North American colonies and it is estimated that there are more than 27 million Scotch-Irish Americans now living in the US. By the close of the century, autonomy for Ireland within the United Kingdom, in 1912, after decades of obstruction from the House of Lords, Home Rule became a near-certainty. A clash between the House of Commons and House of Lords over a controversial budget produced the Parliament Act 1911, which enabled the veto of the Lords to be overturned. The House of Lords veto had been the unionists main guarantee that Home Rule would not be enacted, in 1914, they smuggled thousands of rifles and rounds of ammunition from Imperial Germany for use by the Ulster Volunteers, a paramilitary organisation opposed to the implementation of Home Rule
45.
Partition of Ireland
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The partition of Ireland was the division of the island of Ireland into two distinct jurisdictions, Northern Ireland and Southern Ireland. It took place on 3 May 1921 under the Government of Ireland Act 1920, today the former is still known as Northern Ireland and forms part of the United Kingdom while the latter is now a sovereign state also named Ireland, formally known as the Republic of Ireland. The Act of 1920 was intended to create two self-governing territories within Ireland, with both remaining within the United Kingdom and it also contained provisions for co-operation between the two territories and for the eventual reunification of Ireland. Since partition, a key aspiration of Irish nationalists has been to bring about a reunited Ireland and this goal conflicts with that of the unionists in Northern Ireland, who want the region to remain part of the United Kingdom. The British and Irish government agreed, under the 1998 Belfast Agreement, in its white paper on Brexit the United Kingdom government reiterated its commitment to the Belfast Agreement. The unionist MP Horace Plunkett, who would later support home rule, exclusion was first considered by the British cabinet in 1912, in the context of Ulster unionist opposition to the Third Home Rule Bill, which was then in preparation. The Curragh incident on 20 March 1914 had already led Westminster to believe that the British Army could not be trusted to carry out their orders in Ireland, the Home Rule Crisis was interrupted by the outbreak of World War I. Westminster passed the Home Rule Bill on 18 September 1914 and it immediately received Royal Assent, at the time it was widely believed that the conflict would only last for a few months. Concurrent with the Conscription Crisis of 1918, support for Irish republicanism had risen in Ireland due to the length of the war, Irish republicans were further emboldened by successful revolutions in the Russian, German and Austro-Hungarian Empires. Meanwhile, Irish unionists – most of whom lived in the northeast of the island – were just as determined to maintain the Union and it was intended that each jurisdiction would be granted home rule but remain within the United Kingdom. The government of Southern Ireland never functioned, the war for independence continued until the two agreed a truce in July 1921, ending with the Anglo-Irish Treaty on 6 December 1921. The new state had the status of a dominion of the British Empire, on 7 December 1922 the houses of the Parliament of Northern Ireland approved an address to George V, requesting that its territory not be included in the Irish Free State. This was presented to the king the day on 8 December 1922. Following independence, the state gradually severed all remaining constitutional links with the United Kingdom. In 1937 the Free State was renamed Ireland in its new constitution, in 1949 the state was declared to be a republic, under the Republic of Ireland Act. The Government of Ireland Act 1920, which came into effect on 3 May 1921, provided for separate self-governing parliaments for Northern Ireland and Southern Ireland, the Irish War of Independence led to the Anglo-Irish Treaty. The treaty was given effect in the United Kingdom through the Irish Free State Constitution Act 1922. Under the former Act, at 1pm on 6 December 1922, the treaty, and the laws which implemented it, allowed Northern Ireland to opt out of the Irish Free State
46.
Bank of England note issues
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The Bank of England, which is now the Central Bank of the United Kingdom, has issued banknotes since 1694. Banknotes were originally hand-written, although they were printed from 1725 onwards, cashiers still had to sign each note. Notes were fully printed from 1855, since 1970, the Bank of Englands notes have featured portraits of British historical figures. Of the eight banks authorised to issue banknotes in the UK, only the Bank of England can issue banknotes in England and Wales, Bank of England notes are not legal tender in Scotland and Northern Ireland, but are accepted there along with the respective countries national banknotes. There are currently four different denominations of notes – £5, £10, £20 and £50 – in circulation, each value has its own distinct colour scheme and the size of each note increases in length and width as the value increases. There are two £5 note designs in circulation, the one is being phased out and will cease to be legal tender on 5 May 2017. These images are to scale at 0.7 pixels per millimetre, for table standards, see the banknote specification table. Source, Bank of England website All current Bank of England banknotes are printed by contract with De La Rue at Debden and they include the printed signature of the Chief Cashier of the Bank of England. All the notes issued since Series C in 1960 also depict Elizabeth II in full view, a watermark, hidden, featuring the Queen facing right is shown in the left hand side of the £20 and £50, and the central window of the paper £5 and £10. The new polymer notes do not contain a watermark, more recent issues also include the EURion constellation. This is a pattern of circles which stop copying of banknotes. They are easily identified by photocopiers, the custom of depicting historical figures on the reverse began in 1970 with Series D, designed by the banks first permanent artist, Harry Eccleston. A petition to include a woman on the new £10 note gained over 35,000 signatures, on 24 June 2013, Governor of the Bank of England Mark Carney announced that a newly-designed £10 banknote, featuring novelist Jane Austen, will be issued in 2017. The campaign for a woman to appear celebrated the choice as a brilliant day, like the £5 note featuring Churchill, it will be made from polymer rather than cotton paper. The bank also said that the new note would depict, The quotation – I declare after all there is no enjoyment like reading, commissioned by James Edward Austen Leigh in 1870, which was adapted from an original sketch of Jane Austen drawn by her sister, Cassandra Austen. An illustration of Miss Elizabeth Bennet undertaking the examination of all the letters which Jane had written to her – from a drawing by Isabel Bishop, godmersham was home of Edward Austen Knight, Jane Austens brother. Jane Austen visited the house often and it is believed that it was the inspiration for a number of her novels. Jane Austens writing table – the central design in the background will be based on the writing table
47.
Irish pound
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The Irish Pound was the currency of Ireland until 2002. Its ISO4217 code was IEP, and the notation was the prefix £. The Irish pound was superseded by the euro on 1 January 1999, euro currency did not begin circulation until the beginning of 2002. The earliest Irish coinage was introduced in the year 997, with a pound divided like the English pound into twenty shillings, each of twelve silver pence. Parity with the sterling was established by King John around 1210, so that Irish silver could move freely into the English economy. However, from 1460, Irish coins were minted with a different silver content to those of England, during the Williamite War of 1689–1691, King James II, no longer reigning in England and Scotland, issued an emergency base-metal coinage known as gun money. In 1701, the relationship between the Irish pound and the English pound sterling was fixed at thirteen Irish pounds equalling twelve English pounds. This relationship made it possible for Irish copper coins to circulate with English silver coins, in 1801, Ireland became part of the United Kingdom of Great Britain and Ireland, but the Irish pound continued to exist until January 1826. Between 1804 and 1813 silver tokens worth tenpence were issued by the Bank of Ireland and were denominated in pence Irish, the last copper coins of the Irish pound were minted in 1823, and in 1826 the Irish pound was merged with the pound sterling. From continuing to use sterling after independence, the new Irish Free State brought in its own currency from 1928, de facto rather than de jure, parity with sterling was maintained for another fifty years. As with sterling, the £sd system was used, with the Irish names punt, scilling, distinctive coins and notes were introduced, the coins from 1928 – all with the same dimensions as their British counterparts. However, the pound sterling generally continued to be accepted on a one-for-one basis everywhere, from 1938, the means of tender was referred to as the Irish Pound, after the Constitution of Ireland changed the states name. The Currency Act,1927, Adaptation Order,1938 was the mechanism by which change took place. Decimalisation of the currency was discussed during the 1960s, when the British government decided to decimalise its currency, the Irish government followed suit. The legislative basis for decimalisation in the Republic was the Decimal Currency Act,1969, the number of pence in the Irish pound was redefined from 240 to 100, with the penny symbol changing from d to p. The pound itself was not revalued by this act and therefore pound banknotes were unaffected, the new 5 pence coin correlated with the old 1 shilling coin, and the new 10 pence coin correlated with the old 2 shilling coin. New coins were issued of the dimensions and materials as the corresponding new British coins. The Decimal Currency Act,1970 made additional provisions for the changeover not related with the issue of coins, decimalisation was overseen by the Irish Decimal Currency Board, created on 12 June 1968
