Bailout
Funds given to a collapsing institution by a government in the hope of saving them.
# bailout - Yesterday’s News
Aaron McKenna: Money, Money, Must Be Funny In A Eurocrat’s World
Bailed-out Ireland is to contribute an additional €90 million to the European Union to help plug a shortfall in its 2013 budget. Ludicrous? Yes – but it’s hardly a blip on the radar of incongruity that is the EU’s funny money parade, writes Aaron McKenna.
# bailout - Wednesday 15 May, 2013
IMF gives the ok for €1 billion bailout loan for Cyprus
The IMF said the money is intended to stabilise the country’s ravage financial system.
# bailout - Friday 10 May, 2013
Consumers ‘weathering the storm’ as experts predict recession is bottoming out
However a report shows 60 per cent of adults still believe their income will be lower this time next year.
# bailout - Thursday 9 May, 2013
Troika want banks monitored after ‘disappointingly slow start’ on arrears
The conclusion of the Troika’s tenth review mission to Ireland will result in an estimated €2.4 billion being released.
# bailout - Sunday 5 May, 2013
Column: It’s fanciful to think a wealth tax would make the rich leave Ireland
A former IMF head of the mission for Ireland has said an entire reliance on austerity was not the right move – yet we’re still following that road. David Cronin asks why.
# bailout - Saturday 4 May, 2013
Portugal: 30,000 jobs cuts, working hours increased and pension age rises
The cuts should save an estimated €4.8 billion by 2015.
# bailout - Monday 29 April, 2013
Greece forced to sack 15,500 public workers to keep EU funds
MPs have signed off on laws which enforce the first mandatory public layoffs in Greece for over a century.
# bailout - Tuesday 23 April, 2013
Barroso: Austerity is ‘fundamentally right’ – but is approaching its limits
The European Commission president says, however, it is an ‘unacceptable prejudice’ to blame some countries for others’ problems.
Goodbody: Ireland should have second bailout ready to help exit from first
The stockbroking firm says a precautionary aid programme will encourage investors to lend to us without EU-IMF support.
# bailout - Monday 22 April, 2013
The 5 at 5: Monday
5 minutes, 5 stories, 5 o’clock…
Troika wants Ireland to outline spending cuts for three years
The European Commission approves the latest €1.6 billion loan – but wants Dublin to say WHERE it will continue to cut back.
# bailout - Tuesday 16 April, 2013
Column: Who’s next in line to be consumed by the European crisis?
While other countries are showing signs of difficulty, it’s Spain’s deterioration which could bring the euro crisis to its most dangerous point, writes Tom McDonnell, who asks where Europe goes from here?
# bailout - Friday 12 April, 2013
The Evening Fix…now with added spinning
Things we learned, loved and shared today…
Updated: EU finance ministers agree to delay repayment of Irish bailout loans
All 27 EU finance ministers have now given a green light to extending the maturity of Ireland’s bailout loans by seven years.
The 5 at 5: Friday
5 minutes, 5 stories, 5 o’clock…
Cyprus eases controls on stricken banks – but keeps €300 withdrawal limit
The restrictions were imposed to prevent a run on the banks during the dramatic Cyprus bailout.
EU and Eurozone finance ministers begin two-day summit in Dublin
Ministers will discuss extending the repayment dates of Ireland’s loans, and the aftermath of the Cyprus bailout catastrophe.
# bailout - Thursday 11 April, 2013
Austerity-only policy for Ireland was a mistake, admits former IMF chief
Ashoka Mody says the Troika chose to go down an austerity-only route instead of conceding on terms and conditions.
# bailout - Wednesday 10 April, 2013
The 5 at 5: Wednesday
5 minutes, 5 stories, 5 o’clock…
Fiscal council finds ‘wiggle room’ on Budget targets – but wants full cuts
The Fiscal Advisory Council recommends sticking to plans for another €5.1bn in cuts over two years – even though we’re on course to be well ahead of the EU’s deficit targets.
Troika recommends ‘giving Ireland seven more years to repay loans’
Proposals seen by Reuters, to be put to ministers in Dublin this weekend, would see extra time given for Ireland and Portugal to repay.
# bailout - Monday 8 April, 2013
Portugal PM announces severe spending cuts
As the EU warned the debt-hit nation to respect the aims of its international bailout.
Gilmore: Water charges will not be introduced next January
The Tánaiste says charges won’t be introduced before meters are installed, and that won’t be done in the next nine months.
# bailout - Saturday 6 April, 2013
Aaron McKenna: While the Eurozone is floundering, the US is seeing growth – but why?
The EU needs to either get on with integration, proper banking and political union or separate into amicable trading partners and neighbours, writes Aaron McKenna.
# bailout - Thursday 4 April, 2013
ECB chief Draghi admits initial Cyprus bailout plan was ‘not smart’
The head of the European Central Bank was speaking as the eurozone’s central bank left interest rates unchanged at 0.75 per cent today.
My Cyprus, changed forever
Tamer Fakahany, a deputy managing editor with Associated Press, recalls the displacement of Cypriots he witnessed as a boy – and why its present travails have inspired him to return with his young son.
# bailout - Wednesday 3 April, 2013
The 5 at 5: Wednesday
5 minutes, 5 stories, 5 o’clock…
IMF: European help, progress on mortgages crucial to exit from bailout
The IMF’s latest quarterly review of Ireland’s progress says progress on dealing with mortgage arrears is a make-or-break.
# bailout - Monday 1 April, 2013
Declan Ganley says need for a new political party is ‘obvious’
The Libertas founder has confirmed that he is considering establishing a new political party in Ireland.
# bailout - Saturday 30 March, 2013
Here is the week’s news… skewed
Breaking via TheMire wire: Government concern over threesomes, Gardaà to be microchipped – and how Uzis could have prevented the bailout…
# bailout - Friday 29 March, 2013
Merkel ally: Taoiseach told Irish people truth about ‘hardship’ they’d face
German MEP, Elmar Brok, said that Fine Gael’s support for some of the previous government’s policies had made it able to “sell” austerity and financial hardship to the Irish people.
Column: EU unity is little more than fiction in the wake of Cyprus being hung out to dry
The Cypriot case demonstrates that the European authorities are now prepared to cross the rubicon into the appropriation of deposits. It seems clear that this crisis has seen the Eurozone enter a new and dangerous phase, writes John O’Brennan.
# bailout - Thursday 28 March, 2013
With limits on cash withdrawals, Cypriot banks reopen calmly
The restrictions on withdrawals, cashing of cheques and taking money abroad will be lifted within a month, the country’s foreign minister said today.
# bailout - Wednesday 27 March, 2013
AIB recorded pre-tax loss of €3.8 billion in 2012
AIB’s chief executive David Duffy – who the report shows was paid €546,000 last year – said that assisting mortgage customers in difficulty would be a “major priority for this year”.
# bailout - Monday 25 March, 2013
Updated: All banks in Cyprus will now stay closed until Thursday
Earlier it had been reported that all banks, aside from the country’s two biggest financial institutions, would reopen tomorrow.
Column: It’s been an emotional upheaval but at least Cypriots are standing united
The people of Cyprus are no strangers to losing their belongings, as history has shown, writes Yiota Demetriou – who questions why her country is getting the short end of the stick.
Cyprus reaches last minute deal to avoid bankruptcy
A failure to reach a deal could have seen the country exit the Euro.
# bailout - Saturday 23 March, 2013
IMF approves latest round of bailout loans for Ireland
The approval of nearly €1 billion in new lending means the IMF has handed over about 89 per cent of the total loan.
Here is the week’s news… skewed
Breaking via The Mire wire: RTE stars confused by Pope’s message of humility, and Office of Public Works ‘may never know’ the source of the Cork floods.
How the Cyprus bank closure is crippling business on the island
“We cannot buy, we cannot sell.”
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