Bailout
Funds given to a collapsing institution by a government in the hope of saving them.
# bailout - Tuesday 26 February, 2013
’2,500 jobs jeopardised’ by sale of Coillte’s harvesting rights – report
The Irish Timber Council, representing the country’s sawmills, says that the entire industry is at risk from the proposed sell-off of harvesting rights on Coillte forests.
# bailout - Wednesday 20 February, 2013
Varadkar: Promissory note saving ‘is not €1bn more we have to spend’
The Transport Minister says that talk that the government has €1 billion more to play with in the next Budget “gave me bad memories of Charlie McCreevy”.
# bailout - Sunday 17 February, 2013
Cyprus holds presidential election following heated campaign
The campaign was focused on rescuing the recession-hit EU member state from bankruptcy.
# bailout - Wednesday 13 February, 2013
Ireland could be given extra time to meet deficit deadline
Olli Rehn has written to EU ministers indicating an openness to delaying austerity measures on a case-by-case basis.
# bailout - Saturday 9 February, 2013
Column: Promissory note deal sees Fine Gael come out on top
The response to the promissory note deal has ranged from muted in the case of Fianna Fáil to outrage from Sinn Féin and the Independents – so what does this deal mean for Fine Gael, asks Gary Murphy.
# bailout - Thursday 7 February, 2013
The Evening Fix… now with added Facebook privacy
Here are the things we learned, loved and shared today.
# bailout - Tuesday 22 January, 2013
Eurozone finance ministers agree to examine Ireland’s loan repayments
The deal has been hailed by finance minister Michael Noonan as having the potential to save Ireland billions of euro.
# bailout - Sunday 20 January, 2013
State-owned British banks ‘bailed out Irish ones by €16bn’ – report
The Sunday Telegraph says a quarter of the British taxpayer’s bailouts of RBS and Lloyds has gone to Ireland.
# bailout - Thursday 17 January, 2013
ECB borrowing by Irish banks at lowest level since September 2008
Having reached its peak immediately after the bailout November 2010, the share of the total ECB funding by banks is now 6.3 per cent.
# bailout - Tuesday 15 January, 2013
Ireland to sell €500 million Treasury Bills this week
The auction is the latest in a series of measures undertaken by the National Treasury Management Agency as it looks to return Ireland to normal lending markets.
# bailout - Sunday 13 January, 2013
Explainer: How Irish bailout documents keep getting leaked to the public… via Germany
Yet another batch of draft documents has made its way out via the Bundestag. Here’s the story of how it happens.
Read in full: The leaked European Commission document into Ireland’s economy
The full draft document reveals the Irish government’s fears about a mass boycott of water charges, criticism over the costs of legal services in Ireland, and Troika suggestions to cut public sector pay.
# bailout - Friday 11 January, 2013
Troika thought the Government was optimistic with Budget 2013 Exclusive
The Troika and the Government had significantly different predictions for how much Ireland is going to grow over the next two years.
# bailout - Wednesday 9 January, 2013
Ireland sells €1 billion in Bank of Ireland bonds
Michael Noonan said the sale marks the start of the process of recovering money for the Irish taxpayer.
# bailout - Sunday 6 January, 2013
Column: Why do we love reading books about the economic crisis?
All these critiques don’t spur us to action, writes Tom Boland, so why do we keep buying them?
# bailout - Thursday 20 December, 2012
Spain passes massive austerity cutbacks
Crowds gathered today to protest against job and benefit cuts as well as the tax increases passed today.
# bailout - Tuesday 18 December, 2012
Greece to receive full EU-IMF bailout funds by Wednesday after long delay
Greece will receive €16 billion to recapitalise its banks as part of the deal.
IMF approves latest €890 million loan – and warns against mini-Budget
The Washington-based fund affirms its stance that additional budgets during the year should be avoided.
# bailout - Wednesday 12 December, 2012
Government agrees to close loophole preventing banks repossessing homes
The agreement was made in a memorandum sent by Finance Minister Michael Noonan to the Troika.
EU approves six-month extension of Ireland’s bank guarantee
The approval is seen as routine and may be the last extension, with the possibility of a withdrawal early next year.
# bailout - Saturday 1 December, 2012
Here is the week’s news… skewed
Breaking via The Mire wire: 103% of adults fluent in Irish; evidence of a parliament found in Leinster House; rainwater is tax-free… for now.
# bailout - Friday 30 November, 2012
Euro area unemployment rate at new high
Spain is ranked as the country with the highest rate of unemployment with Greece as a close second.
# bailout - Tuesday 27 November, 2012
AIB says ‘substantial progress’ made on restructuring
Staff numbers have dropped, the cost base has been reduced and lower bad loan provisions are expected this year.
Eurozone leaders reach a deal on Greek debt
The agreement came after 13 hours of talks in Brussels.
# bailout - Monday 26 November, 2012
Eurozone finance ministers meet (yet again) to try to fix Greece
This will be the third time in two weeks that finance ministers from across the EU will meet to deal with the the threat of bankruptcy for Greece.
The 9 at 9: Monday
The nine stories you need to know as you start your day.
# bailout - Tuesday 13 November, 2012
Video: Greece left waiting for aid as EU and IMF disagree
IMF chief Christine Lagarde visibly disagreed with Eurogroup chief Jean-Claude Juncker at a press confernece last night.
# bailout - Tuesday 6 November, 2012
Spanish PM plays down bailout prospect – for this year at least
Mariano Rajoy ruled out seeking a bailout in 2012 – but vowed to do it if faced with persistent, high borrowing costs.
# bailout - Monday 29 October, 2012
Opposition bemoans lack of progress on bank deal after Schauble visit
Fianna Fáil and Sinn Féin both criticise Noonan and Howlin for failing to extract public commitments from the German minister.
Noonan and Howlin to meet with German finance minister today
Michael Noonan and Brendan Howlin meet with Wolfgang Schauble at Farmleigh House in Dublin today where discussions on Ireland’s legacy bank debt are sure to come up.
# bailout - Saturday 27 October, 2012
Ireland needs access to funding at reasonable rates – Burton
The Minister for Social Protection said that the country is well placed to exit the EU/IMF bailout programme next year, but funding at a reasonable price was critical to recovery.
# bailout - Thursday 25 October, 2012
The 5 at 5: Thursday
5 minutes, 5 stories, 5 o’clock…
IMF tells Europe: ‘Deliver on your promises or Ireland is at risk’
The head of the IMF’s mission to Ireland says selling a share in the banks to the ESM is a good idea for everybody.
As it happened: Noonan and Howlin on the Troika’s eighth review of the bailout
Are the Troika still happy with Ireland’s progress? Let’s find out…
Troika completes eighth review of Ireland
Ministers Noonan and Howlin to read out Ireland’s latest report card at noon today. Any guesses at what grade we’ll get?
# bailout - Wednesday 24 October, 2012
The Evening Fix: Now with added Gangnam, United Nations style
Here are the things we loved, learned and shared today.
Lenihan letters: What’s been released, and what hasn’t
The release of further documents this week help to shed further light on Ireland’s bailout. But what don’t we know?
In full: Brian Lenihan tells the ECB why Ireland needs a bailout
“There comes a point at which negative sentiment starts to feed on itself … we are clearly at that point.”
Released: Brian Lenihan’s letter where Ireland asks for a bailout
The Department of Finance has released the letter of November 21, 2010 where Brian Lenihan says: ‘We need help.’
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