European Financial Stability Facility
# european-financial-stability-facility - Tuesday 5 March, 2013
EU finance ministers confirm deal to delay Ireland’s bailout repayments
Ministers have asked the Troika to come up with a proposal on the best options for extending the maturities of Irish loans.
Deal could delay repayment of Ireland’s EU bailout loans
The detail of extended loan repayments on the EU portion of Ireland’s bailout is still to be worked out but could save the State significant amounts of money in the coming years.
# european-financial-stability-facility - 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.
# european-financial-stability-facility - 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.
# european-financial-stability-facility - 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.
# european-financial-stability-facility - Monday 23 July, 2012
IMF refuses to deny reports that it may cut Greek funding
Der Spiegel says the IMF wants out of Greece as soon as the ESM kicks in in September – and the IMF won’t deny it.
# european-financial-stability-facility - Friday 20 July, 2012
No split between banks and sovereign – for now – as Spain secures bailout
The assistance – of up to €100 billion – comes with terms and conditions, while banks and the sovereign haven’t been split just yet.
# european-financial-stability-facility - 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.
# european-financial-stability-facility - Saturday 12 May, 2012
Opinion: ‘Rejection could force Ireland to greater austerity’
On a ‘Yes’ vote: IBEC Director General Danny McCoy says that voting against the fiscal compact could bring dangerous economic instability and uncertainty.
# european-financial-stability-facility - Monday 23 April, 2012
Kenny wants ESM amended to allow direct loans to banks
The Taoiseach tells the German edition of the Financial Times: ‘There’s a widespread belief that the ESM should lend to banks.’
# european-financial-stability-facility - Tuesday 21 February, 2012
Borrowing costs for eurozone bailout fund fall after Greek deal
The EFSF issues a new round of 6-month bills – with interest rates significantly lower than at the same time last month.
# european-financial-stability-facility - Tuesday 17 January, 2012
EU bailout fund overcomes downgrade with successful bond auction
The EFSF sells six-month bills with an average interest rate of 0.2664 per cent – despite being downgraded yesterday.
# european-financial-stability-facility - Monday 16 January, 2012
Bailout costs likely to rise after S&P downgrades EU fund
Standard & Poor’s downgrades the European Financial Stability Fund, meaning our future loans will probably cost us more.
# european-financial-stability-facility - Thursday 5 January, 2012
EU fund issues new bonds to pay for Irish bailout
The European Financial Stability Fund says it issued €3bn in three-year bonds, at a rate over four times cheaper than we’d get.
# european-financial-stability-facility - Monday 19 December, 2011
Hold the phone: EU finance ministers to hold teleconference over debt crisis
The talks are expected to focus on measures to boost the International Monetary Fund’s firepower.
# european-financial-stability-facility - Wednesday 30 November, 2011
Eurozone finance ministers look to IMF for help as bailout fund falls short
It’s now feared the European Financial Stability Fund does not have sufficient firepower to rescue distressed countries.
# european-financial-stability-facility - Tuesday 29 November, 2011
Eurozone finance ministers hold talks amid fears of euro breakup
US president Barack Obama has weighed in with a call for EU countries to find a solution to the spiralling debt crisis.
# european-financial-stability-facility - Monday 28 November, 2011
Eurozone ‘has ten days to save itself, or collapse’ – analyst
Wolfgang Münchau, associate editor of the Financial Times, believes catastrophe is coming if a deal is not struck by December 9.
# european-financial-stability-facility - Thursday 17 November, 2011
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-financial-stability-facility - Thursday 27 October, 2011
EU leaders strike ‘comprehensive’ debt deal after hours of talks
Greek debt will be written down by 50 per cent, with the EU bailout fund boosted to around €1trillion.
# european-financial-stability-facility - Monday 24 October, 2011
Enda Kenny: New hope for deal to tackle EU crisis
The Taoiseach has said EU leaders were “focused on fundamentals” for the first time as they met in Brussels.
# european-financial-stability-facility - Saturday 15 October, 2011
G20 finance ministers open door for larger IMF role in fighting crisis
Ministers from the world’s 20 major economies invite the IMF to come up with a plan of action for fighting the debt crisis.
# european-financial-stability-facility - Wednesday 12 October, 2011
Barroso’s banking plan could mean more countries opting for bailout
Jose Manuel Barroso wants banks to increase capital – saying governments can foot the bill by borrowing from the EFSF.
Government falls as Slovakia rejects Eurozone bailout expansion plans
However the bill is now set to go to another parliamentary vote later this week where it will likely pass.
# european-financial-stability-facility - Tuesday 11 October, 2011
Slovakia parliamentary vote crucial to Eurozone bailout fund
The hopes of expanding the Eurozone’s bailout mechanism lie in the hands of Slovakia’s parliamentarians who are expected to vote today.
# european-financial-stability-facility - Thursday 29 September, 2011
Major win for Merkel as German parliament passes bailout vote
Only 15 of Angela Merkel’s MPs vote against a bill expanding Germany’s bailout liabilities – meaning she retains her majority.
# european-financial-stability-facility - Monday 26 September, 2011
Merkel warns against Greek default – but says ‘firewall’ is needed
A ‘firewall’ is needed in order to stop Euro members falling like dominoes, Angela Merkel says – though Greece is sustainable for now.
# european-financial-stability-facility - Wednesday 14 September, 2011
European Commission reduces margin on Irish bailout to zero
The EC says it’s lowering the interest on its part of Ireland’s bailout loans in line with that of the Eurozone’s portion.
# european-financial-stability-facility - Saturday 3 September, 2011
Kind words from IMF as new bailout loans are approved
Ireland’s about to go €7.5bn further into the red – but the IMF insists that there’s cause for optimism as it approves new loans.
# european-financial-stability-facility - Thursday 4 August, 2011
Barroso warns: the Eurozone debt crisis is spreading
The President of the European Commission tells us what we already know, as he calls for “full backing” for struggling countries.
# european-financial-stability-facility - Wednesday 27 July, 2011
Bailed-out Ireland could stump up €11.1 billion… to pay for new bailout fund
The new European Stability Mechanism will need will claw back a huge amount of the loans it’s already giving us.
# european-financial-stability-facility - Thursday 21 July, 2011
Irish bailout rate ‘cut to under 4 per cent’ by draft agreement – report
RTÉ says a draft agreement being considered in Brussels would slash our interest rate and extend our repayments.
# european-financial-stability-facility - Wednesday 20 July, 2011
Enda Kenny: Tomorrow’s EU summit probably won’t strike a big deal
Enda Kenny says tomorrow’s EU summit probably won’t reach a deal – but France is promising a “strong message”.
# european-financial-stability-facility - Tuesday 21 June, 2011
Change to Europe’s bailout fund “very good news” for Ireland
Enda Kenny and Michael Noonan say a change to the way money is paid back will regain the confidence of potential investors in Ireland.
# european-financial-stability-facility - Monday 20 June, 2011
Here’s how a new deal on EU bailouts could help Ireland escape a second one
A nutshell guide to how an amendment to the European Stability Mechanism could help Ireland get back on its feet.
# european-financial-stability-facility - Monday 16 May, 2011
European finance leaders sign off on Portugal’s €78bn bailout
Portugal will borrow over 7.5 years at an average interest rate of 5.7 per cent – slightly less than the 5.83 per cent we pay.
# european-financial-stability-facility - Monday 9 May, 2011
Greece bailout package set for renegotiation
There are conflicting reports about the extent to which Greece needs help but the suggestion that Athens would pull out of the euro has been dismissed as a “stupid idea”.
# european-financial-stability-facility - Wednesday 6 April, 2011
Portuguese finance minister admits: ‘We’re going to need a bailout’
A third Eurozone country admits the need for foreign help after a new bond auction sends interest rates spiralling.
# european-financial-stability-facility - Tuesday 29 March, 2011
Ireland’s already taken 27 per cent of its bailout cash
New figures from the Financial Regulator show that Ireland’s drawn down €18.4bn of the €67.5bn set aside by the EU-IMF.
# european-financial-stability-facility - Monday 21 March, 2011
Government may accept borrowing limits in return for bailout rate cut
Ahead of crucial European summits, ministers say corporation tax is off the agenda – but that other concessions could be made.
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