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European Central Bank

European Central Bank

The function of the ECB is to administer the monetary policy of the 16 Eurozone countries. The primary aim of the ECB is to keep inflation low and maintain price stability in the Union. It is one of the most important central banks in the world. Its headquarters are in Frankfurt.

# european-central-bank - Monday 12 March, 2012

From TheJournal.ie Troika deal could move tracker mortgages to IBRC – Noonan Banks

Troika deal could move tracker mortgages to IBRC – Noonan

The minister for finance tells RTÉ that loss-making mortgages could be taken off the books of AIB and Permanent TSB,

# european-central-bank - Thursday 8 March, 2012

At least someone’s making money: ECB profits quadrupled last year

A ballooning balance sheet and bigger roles in the bond markets meant the ECB turned profits of €728m, up from €171m.

LIVE: ECB president Mario Draghi’s press conference in Frankfurt ECB

LIVE: ECB president Mario Draghi’s press conference in Frankfurt

Mario Draghi will give a press conference at 1:30pm following a meeting where Anglo’s promissory notes were up for discussion.

ECB leaves main interest rate unchanged at 1 per cent ECB

ECB leaves main interest rate unchanged at 1 per cent

As expected, the monthly meeting of the ECB’s governing council decides not to tinker with the main interest rates.

# european-central-bank - Wednesday 7 March, 2012

Honohan set to make case to ECB for deal on Anglo promissory notes

The ECB’s monthly meeting of central bank governors will give Patrick Honohan a chance to explain the need to strike a deal.

# european-central-bank - Friday 2 March, 2012

Deja vu: ECB gives banks new money – and banks save it in the ECB ECB

Deja vu: ECB gives banks new money – and banks save it in the ECB

Overnight deposits in the ECB surged to their highest ever, just a day after it issued €529 billion to boost credit markets.

# european-central-bank - Wednesday 29 February, 2012

ECB pumps €529bn of new cash into European banking system ECB

ECB pumps €529bn of new cash into European banking system

The second round of unusually lengthy lending sees the ECB lend €529bn to banks, hoping the cash will be passed onward.

# european-central-bank - Tuesday 28 February, 2012

S&P downgrades Greece into ‘selective default’ territory

The ratings agency demonstrates it can read, by officially acknowledging that Greece’s bond-swap is a ‘selective default’.

# european-central-bank - Tuesday 21 February, 2012

ECB steers clear of bond-buying for first time since August

Last week marked the first time in six months that the European Central Bank didn’t intervene in the sovereign bond markets.

# european-central-bank - Thursday 9 February, 2012

ECB interest rates remain unchanged ECB

ECB interest rates remain unchanged

ECB head Mario Draghi said that there are “tenatative” signs of stabilisation in the eurozone.

# european-central-bank - Monday 23 January, 2012

From TheJournal.ie ECB affirms: Investors won’t lend to you if you burn bondholders Bondholders

ECB affirms: Investors won’t lend to you if you burn bondholders

The ECB declines to comment on Leo Varadkar’s remarks, but says its stance on Irish burden-sharing is well-known.

From TheJournal.ie Poll: Should we repay the Anglo bondholders? Your Say This post contains a poll

Poll: Should we repay the Anglo bondholders?

The government is warning that consumers will be hit if €1.25bn is not paid to senior bondholders on Wednesday but others think the government should default. What do you think?

From TheJournal.ie Troika warned ‘a bomb will go off’ in Dublin unless bondholders repaid Bailout

Troika warned ‘a bomb will go off’ in Dublin unless bondholders repaid

Transport Minister Leo Varadkar conveyed the strong words from the Troika partners in an interview last night.

# european-central-bank - Thursday 19 January, 2012

From TheJournal.ie IMF and ECB divided on whether Ireland should burn bondholders Troika

IMF and ECB divided on whether Ireland should burn bondholders

The IMF says burden-sharing is an option, but the ECB says it’s worried that doing so cause panic to “spill over” to Europe.

From TheJournal.ie Noonan’s emigration comments branded ‘a disgrace’ by opposition Emigration

Noonan’s emigration comments branded ‘a disgrace’ by opposition

Sinn Féin’s finance spokesperson Pearse Doherty has said that Michael Noonan’s comments earlier today were “deeply insulting”.

From TheJournal.ie As it happened: The Troika’s press conference on the latest bailout review Troika

As it happened: The Troika’s press conference on the latest bailout review

The European Commission, European Central Bank and International Monetary Fund discussed Ireland’s bailout progress.

From TheJournal.ie 5 things we learned at today’s bailout press conference Bailout

5 things we learned at today’s bailout press conference

There were five things worth noting from today’s press conference with Brendan Howlin and Michael Noonan. Here they are.

From TheJournal.ie As it happened: Noonan and Howlin discuss the latest Troika review Troika

As it happened: Noonan and Howlin discuss the latest Troika review

We liveblogged events from Government HQ as the ministers hosted a press briefing on the latest EU-IMF review of Ireland.

From TheJournal.ie Troika to deliver report on Ireland’s bailout programme Bailout

Troika to deliver report on Ireland’s bailout programme

It comes amid growing talk that Ireland will need a second bailout. One economist did not rule out such a possibility this morning.

# european-central-bank - Monday 16 January, 2012

Back with a bang: ECB bought €3.77 billion of bonds last week

After slowly winding down its programme of hoovering up eurozone debt, the ECB was called back into action in a big way.

# european-central-bank - Thursday 12 January, 2012

ECB holds main eurozone interest rate at 1 per cent ECB

ECB holds main eurozone interest rate at 1 per cent

The decision follows two successive months of cutting the bank’s main interest rate which was a welcome boost for mortgage holders.

# european-central-bank - Wednesday 4 January, 2012

European banks borrow from ECB – and then lodge the cash with the ECB again

Overnight deposits at the ECB jumped by €65bn on Monday – potentially undermining ECB efforts to get money moving again.

# european-central-bank - Monday 2 January, 2012

From TheJournal.ie ECB spending on controversial buying nears €140 billion Bonds

ECB spending on controversial buying nears €140 billion

The ECB’s continued purchases in 2011 mean the central bank now holds over €210 billion of bonds from its member countries.

# european-central-bank - Thursday 29 December, 2011

Recessions, downgrades and Super Mario – 2011: the year in money Review 2011 This post contains images

Recessions, downgrades and Super Mario – 2011: the year in money

2011 may be remembered in future as the year we sorted out the financial crisis – or the year in which it grew beyond our control.

# european-central-bank - Wednesday 28 December, 2011

Stocks slide over signs of jitters at European banks

European banks deposited a record €412 billion with the ECB overnight – showing that banks are worried about loaning money to each other.

# european-central-bank - Wednesday 21 December, 2011

ECB reports biggest-ever demand from banks for cheap loans

The ECB’s one-off round of three-year loans sees more demand than anticipated, sending stock markets down.

From TheJournal.ie IMF calls on EU to support Ireland Support

IMF calls on EU to support Ireland

The IMF says Ireland has made “exceptional” efforts to meet its bailout targets – and urged the EU to give more assistance to the country concerning its banking debts.

# european-central-bank - Tuesday 13 December, 2011

From TheJournal.ie Taoiseach urges banks to pass on interest rate cut Bankers

Taoiseach urges banks to pass on interest rate cut

The ECB has announced a cut in interest rates – but AIB, Ulster Bank and National Irish Bank have all said they won’t pass on the cut to mortgage customers.

# european-central-bank - Monday 12 December, 2011

Markets fall as EU fiscal agreement does little to inspire confidence

Buoyant upon initial news of the deal last week, the markets were not so happy today…

# european-central-bank - Friday 9 December, 2011

From TheJournal.ie Five banks not passing on full ECB rate cut to mortgage customers Mortgages

Five banks not passing on full ECB rate cut to mortgage customers

The ECB yesterday announced a 0.25 per cent cut in its base rate which will kick in from 14 December – but not for all Irish mortgage holders…

# european-central-bank - Thursday 8 December, 2011

From TheJournal.ie Deutsche Bank chief Josef Ackermann targeted with letter bomb Germany

Deutsche Bank chief Josef Ackermann targeted with letter bomb

Frankfurt police were notified by bank staff who found a suspicious package in the company’s mail room yesterday.

ECB could cut interest rate cut by 0.5 per cent today ECB

ECB could cut interest rate cut by 0.5 per cent today

The bank is expected to announce its second rate cut in five weeks as EU leaders travel to Brussels for a eurozone crisis summit.

# european-central-bank - Friday 2 December, 2011

From The Daily Edge Um, really? ECB makes video celebrating 10 glorious years of the euro Bad Timing

Um, really? ECB makes video celebrating 10 glorious years of the euro

They may have missed that whole eurozone crisis thing.

From TheJournal.ie Poll: Does Ireland have a future in the euro? Your Say This post contains a poll

Poll: Does Ireland have a future in the euro?

France and Germany want updated treaties to create a greater fiscal union. Should Ireland be a part of that?

From TheJournal.ie Merkel: EU needs a new Treaty to end debt crisis European Union

Merkel: EU needs a new Treaty to end debt crisis

Angela Merkel sings from the same hymn sheet as Nicolas Sarkozy, but warns that the euro crisis will take “five years” to solve.

# european-central-bank - Thursday 1 December, 2011

From TheJournal.ie Sarkozy: We need to rethink Europe to save the euro Crisis

Sarkozy: We need to rethink Europe to save the euro

In a dramatic speech this evening, the French president said that there needs to be a “rethink” of how Europe is structured – and possibly a new treaty.

From TheJournal.ie Gilmore gives strongest hint yet that Ireland opposes EU treaty change European Union

Gilmore gives strongest hint yet that Ireland opposes EU treaty change

As EU foreign ministers meet in Brussels, Eamon Gilmore insists changing EU treaties won’t act quickly enough to fix the debt crisis.

# european-central-bank - Wednesday 30 November, 2011

From TheJournal.ie Kenny tells Dáil: ‘I have an answer to the euro problem’ Debt Crisis

Kenny tells Dáil: ‘I have an answer to the euro problem’

The Taoiseach says the only way to solve Europe’s debt crisis is to tap the European Central Bank’s “infinite capability”.

# european-central-bank - Sunday 27 November, 2011

IMF preparing €600bn of assistance for Italy – report

An Italian newspaper reports that the IMF would make available hundreds of billions of euro of credit for Italy in order to try and stabilise the country’s economy.

# european-central-bank - Saturday 19 November, 2011

Troika in Greece to settle details on bailout loans

Yesterday, the Greek finance minister said the country would not need to implement any further austerity measures to reach its deficit target for the year.