ESM
# esm - 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.
# esm - Thursday 9 May, 2013
Column: Are we proud that Ireland is the poster child of austerity?
Austerity has not worked in Ireland or across the eurozone, writes Joan Collins, who points out that even the architects of our bailout admit it was the wrong path.
# esm - 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?
# esm - Monday 4 March, 2013
Key meeting in Brussels to discuss whether AIB, BoI costs can be recouped
Eurozone finance ministers will today discuss the key question of whether the Euro’s bailout fund will chip in to Ireland’s costs.
# esm - Saturday 2 February, 2013
Ireland still has 39% chance of defaulting, says Government’s budget adviser
Professor John McHale, the chairman of the Irish Fiscal Advisory Council, said Ireland has made huge progress – but is not out of the woods yet.
# esm - Friday 14 December, 2012
Deal on Irish bank debt ‘can be reached before 2014’ – Kenny
The Taoiseach says discussions on the help Ireland can receive from the ESM can continue before a new banking supervisor is set up.
# esm - Thursday 13 December, 2012
European leaders agree on bank supervision
The deal comes after overnight talks, during which German Minister Wolfgang Schauble backed down on earlier objections.
# esm - Saturday 1 December, 2012
Eurozone’s new bailout fund loses AAA credit rating
The European Stability Mechanism has been downgraded by Moody’s, following a similar drop for France.
The 9 at 9: Saturday
Good morning! Here’s the nine things you need to know as you kick off your weekend.
# esm - Tuesday 27 November, 2012
The 5 at 5: Tuesday
5 minutes, 5 stories, 5 o’clock…
European court rules against Thomas Pringle, says ESM is lawful
The European Court of Justice has ruled that the eurozone’s permanent bailout fund is lawful.
The 9 at 9: Tuesday
Good morning. Here are the nine stories you need to know as you start your day.
# esm - Tuesday 23 October, 2012
European Court of Justice to discuss legality of new permanent bailout fund
The ECJ will today discuss whether the European Stability Mechanism (ESM) is legal under existing EU law.
# esm - Monday 22 October, 2012
Enda in Europe: next up, Paris.
The Taoiseach is to meet French President Francois Hollande and attend a large food fair to promote Irish produce.
Fianna Fáil, Sinn Féin call for clarification of Merkel and Kenny communiqué
Sinn Féin described the outcome of last night’s contact between Merkel and Kenny as a reiteration of a previous statement, while Fianna Fáil called for ‘plain language’.
# esm - Saturday 20 October, 2012
Govt insists agreement to address bank debt stands, FF says it’s in denial
The government has continued to insist a deal on Ireland’s debt still stands despite comments from the German chancellor yesterday.
# esm - Friday 19 October, 2012
The Evening Fix… now with added Shane Ross haircut
Here are the things we learned, loved and shared today.
Here’s the exact transcript of Angela Merkel’s comments in Brussels
“It will not be a retroactive direct capitalisation. If recapitalisation is possible, it will come for the future.”
Merkel rules out backdated ESM help for bailing out Europe’s banks
The German chancellor tells a news conference there “will not be any retroactive direct recapitalisation”. That’s us told.
# esm - Thursday 18 October, 2012
Slideshow: The EU summit in Brussels
Greater European Union control of national budgets, oh and what the heads of state will be dining on tonight.
# esm - Sunday 14 October, 2012
Euro crisis based on ‘design flaws’ in monetary union, conference told
An economics conference in Galway is told the Eurozone’s debt crisis is based on a ‘deeply flawed institutional architecture’.
# esm - Monday 8 October, 2012
Moody’s give new ESM an AAA rating – but outlook is negative
Moody’s said that a ‘weakening in the political commitment’ among eurozone states towards the ESM would have negative implications.
Noonan hopeful of deal on Anglo promissory note before Budget
The Minister for Finance says the timetable is to have a deal by March, but he’d like a commitment before announcing the Budget.
# esm - Thursday 4 October, 2012
Column: Why banks have begun picking our pockets (and more is still to come)
We need more straight talking on the status of Irish banking, writes expert Ronan Coburn.
# esm - Wednesday 26 September, 2012
Germany, Finland and the Netherlands deliver blow to Ireland’s hopes for bank debt deal
The country’s three finance ministers issued a statement last night stating that the EU rescue fund would only deal with future problems.
# esm - Tuesday 18 September, 2012
Ireland may issue 40-year bond to replace promissory notes – report
Bloomberg reports that Ireland could issue the former Anglo bonds worth €40 billion, allowing it to scrap the promissory note system.
# esm - Tuesday 11 September, 2012
German court set to rule on whether Germany can sign the ESM into law
The court will rule tomorrow morning whether the president can sign the ESM into law or not.
# esm - Monday 10 September, 2012
IMF turns up heat on demands for Irish bank debt deal
The latest IMF quarterly review says having the ESM take a direct stake in Irish banks is the best way back to the markets.
# esm - Wednesday 1 August, 2012
Government to ratify ESM today following Supreme Court ruling
The EU’s permanent bailout fund still has to clear the hurdle of the German Constitutional Court which is expected to issue a ruling in September.
# esm - Tuesday 31 July, 2012
Ireland to formally ratify ESM Treaty after Supreme Court clearance
Instruments of ratification – the final leg in the approval process – will be formally lodged in Brussels today.
Supreme Court rejects Thomas Pringle challenge against ESM treaty
The Independent TD had challenged the ESM Treaty, arguing that it involved a loss of sovereignty for Ireland and needed a referendum.
# esm - Friday 27 July, 2012
Explainer: Why is Spain under so much financial pressure?
The cost of borrowing for Spain keeps getting higher – fuelling rumours of needing a full-on bailout.
Spain ‘discussed €300bn bailout with Germany’ – Reuters report
Reuters says a Spanish minister broached the idea on Tuesday. If they’re right, Ireland could be hit with a bill for €4.77 billion.
# esm - Thursday 26 July, 2012
ECJ to rule on whether permanent Euro bailout fund is legal
The Supreme Court has asked the European Court of Justice for clarity after a legal challenge from TD Thomas Pringle.
# esm - Monday 9 July, 2012
The Evening Fix: Monday
Things we learned, loved and shared today.
# esm - Friday 29 June, 2012
Gilmore says new eurozone deal is a ‘game-changer’ for Ireland
The Tánaiste has also said that it reduces the chances of Ireland needed a second bailout.
# esm - Wednesday 20 June, 2012
Explainer: Have Spain and Italy been ‘bailed out’?
Germany has reportedly relented and will allow the ESM to buy bonds directly, which could save Spain and Italy.
# esm - Wednesday 13 June, 2012
Spanish bailout: what we know so far
An essential round-up of the details to date of the Spanish bailout, from interest rates to lending conditions.
# esm - Saturday 9 June, 2012
Noonan welcomes Spanish request for banking bailout
But will Ireland have to contribute to the bailout?
# esm - Sunday 3 June, 2012
The 9 at 9: Sunday
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