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 - Thursday 19 January, 2012
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.
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.
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
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
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
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.
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
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
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
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
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
Um, really? ECB makes video celebrating 10 glorious years of the euro
They may have missed that whole eurozone crisis thing.
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?
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
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.
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
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.
# european-central-bank - Friday 18 November, 2011
Budget leaks: State asset sell-off may not yield money for job creation Exclusive
The government has said publicly it wants to use State asset sell-off revenue for job creation but confidential documents paint a different picture.
# european-central-bank - Thursday 17 November, 2011
Taoiseach says ECB can provide ‘ultimate firepower’ to solve euro crisis
Enda Kenny met with German chancellor Angela Merkel in Berlin yesterday and there was plenty to discuss.
Martin says there’s weeks to save the euro amid reports of French-German split
Micheál Martin has been critical of France and Germany’s role in the eurozone amid reports the region’s two largest economies are split on the role of the European Central Bank.
# european-central-bank - Saturday 12 November, 2011
Here’s the cheaper solution to the eurozone debt crisis…
…and it involves the ECB, an interest rate cap and an end-point for bond market intervention.
# european-central-bank - Wednesday 9 November, 2011
Italian bonds hit 7.4 per cent as Europe enters crisis mode
The price of borrowing for the Italian government is now at the same level which prompted bailouts for Ireland and Portugal.
# european-central-bank - Tuesday 8 November, 2011
National Irish Bank says rate hike not related to ECB cut
The Danish-owned lender confirms a mortgage rate increase of up to 0.95 per cent – but says it’s nothing to do with the ECB’s cut.
# european-central-bank - Friday 4 November, 2011
Two banks will pass on ECB interest rate cut to mortgage holders
But aside from Permanent TSB and KBC Bank Ireland, what are the other banks doing?
# european-central-bank - Thursday 3 November, 2011
Surprise! ECB cuts interest rate to 1.25 per cent
On his first day in the job, ECB president Mario Draghi surprised everyone by cutting the eurozone’s main interest rate.
# european-central-bank - Thursday 20 October, 2011
Troika to announce latest report today
Representatives from the Troika are expected to announce that Ireland has been meeting targets set out in the bailout plan.
# european-central-bank - Tuesday 11 October, 2011
Greece secures €8bn bailout loans – with a slap on the wrist
The Troika concludes a review mission to Athens – likely to approve new loans, but with damning words about economic reform.
# european-central-bank - Saturday 8 October, 2011
Eurozone debt crisis: 9 key diary dates this month
Will this be the most important month for the 17 nations of the euro area?
# european-central-bank - Thursday 6 October, 2011
ECB to offer emergency loans to Eurozone banks
Meanwhile, President Jean-Claude Trichet says that Ireland’s credibility is visibly improving month after month.
Trichet’s last ECB meeting not likely to see cuts to rate
The ECB’s monthly meeting today is the latest before Jean-Claude Trichet hands over the reins at the European Central Bank.
# european-central-bank - Friday 30 September, 2011
Wall Street ends worst quarter since 2008
Global stocks were down today as fears on the global economy show no signs of abating.
# european-central-bank - Saturday 17 September, 2011
Govt criticised for U-turn on Anglo senior bondholders
Ireland is to save €10 billion from bailout interest rate cuts but Finance Minister Michael Noonan says it is unlikely the ECB will allow any “burning” of Anglo Irish Bank’s senior debt.
# european-central-bank - Thursday 15 September, 2011
Brussels paints bleak picture for European economic recovery
The European Commission’s new review lowers its expectation of economic growth, which will be flat in the third quarter.
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