European Stability Mechanism
# european-stability-mechanism - Monday 25 March, 2013
Update: Eurozone head insists Cyprus deal not template for future bailouts
Jeroen Dijsselbloem had earlier said the Cyprus template – where depositors and bondholders are hit before governments – is the new model for how troubled banks will be handled. He has since clarified the remarks.
# european-stability-mechanism - 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.
# european-stability-mechanism - Sunday 3 February, 2013
Everything you need to know about the promissory notes, but were afraid to ask
You have been and will be hearing a lot about promissory notes in the coming weeks but what’s it all about? We’ve taken your questions, come up with some of our own and asked the experts…
# european-stability-mechanism - Saturday 26 January, 2013
Céard? 17 words from modern Ireland, in Irish
Have you ever sent a ‘tvuÃt’ about the ‘tarrtháil’?
# european-stability-mechanism - Tuesday 8 January, 2013
Kenny to address meeting of Merkel’s Bavarian sister party
The Taoiseach is in Munich to address a meeting of the Christian Social Union, the regional sister party of the CDU.
# european-stability-mechanism - 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.
EU leaders repeat aim of splitting bank and sovereign debts
Ahead of Day 2 of a two-day summit, EU leaders say a deal on a new banking regulator is “a major qualitative step”.
# european-stability-mechanism - 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-stability-mechanism - Wednesday 28 November, 2012
Pringle could face substantial legal costs after European court loss
The independent TD said that if the court decides he’s liable for a six figure sum he does not have the cash in hand to pay.
# european-stability-mechanism - 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.
# european-stability-mechanism - 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.
# european-stability-mechanism - 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.
# european-stability-mechanism - Friday 19 October, 2012
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.
# european-stability-mechanism - Wednesday 10 October, 2012
Noonan rejects Tobin tax over fear of jobs losses
The Finance Minister said Ireland would not adopt the tax unless Britain also did – over fears Irish jobs could be lost to London.
# european-stability-mechanism - Thursday 27 September, 2012
Spain to announce Budget – with €39bn of cuts on the table
Prime minister Mariano Rajoy will hope that the hard-hitting Budget will soften the terms of any prospective bailout.
# european-stability-mechanism - 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.
# european-stability-mechanism - Wednesday 12 September, 2012
Germany’s top court approves permanent Eurozone bailout fund
The ruling may mean the Dáil will need another vote on approving it – but also give it a vote on increasing its size in future.
German ESM ruling: Foreign minister confident of treaty approval
Guido Westerwelle is pretty confident that the Constitutional Court will give its blessing to the permanent Eurozone bailout fund.
# european-stability-mechanism - Monday 20 August, 2012
Greek exit from eurozone would be ‘manageable’ says top ECB official
The comments from Joerg Asmussen come at the beginning of another crucial week for the single currency and troubled Greece.
# european-stability-mechanism - 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-stability-mechanism - 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.
# european-stability-mechanism - 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.
# european-stability-mechanism - 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.
# european-stability-mechanism - Wednesday 25 July, 2012
Greens tell Gilmore: ‘You’ll need to convince German allies on bank deal’
The Green Party points out that Labour’s sister party in Germany is opposed to letting banks borrow straight from the ESM.
# european-stability-mechanism - 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-stability-mechanism - 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-stability-mechanism - Friday 22 June, 2012
Brussels made 17 errors translating the ESM Treaty into Irish
Dáil approval was needed this week to correct 17 grammatical mistakes, and typos, in the Irish version of the Treaty.
# european-stability-mechanism - Wednesday 20 June, 2012
Dáil approves Ireland’s ratification of new Eurozone bailout fund
TDs vote by 114 to 22 to have Ireland participate, a move which will require €1.27bn in cash payments before 2014.
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-stability-mechanism - Tuesday 19 June, 2012
German court says MPs need greater role in EU treaty talks
The ruling from the Constitutional Court means opposition parties will have a greater say in EU treaties in future.
# european-stability-mechanism - Saturday 2 June, 2012
Government will ask TDs to ratify ESM Treaty this week
Bolstered by the Yes vote in the Fiscal Compact, TDs will vote this week on ratifying Ireland’s participation in the ESM.
The 9 at 9: Saturday
Every morning, TheJournal.ie brings you the nine things you need to know as you start your day…
# european-stability-mechanism - Monday 28 May, 2012
Treaty campaigns dispute ESM access in latest referendum debate
The ULA’s Clare Daly and Fianna Fáil’s Micheál Martin clash over whether Ireland could get ESM funds after a No vote.
# european-stability-mechanism - Wednesday 23 May, 2012
NTMA: No access to ESM would mean no access to markets either
Michael Noonan says the NTMA believes bond markets won’t lend to Ireland if it doesn’t have recourse to the ESM’s backup.
Large majority of voters in favour of referendum on ESM treaty
A Red C poll commissioned by the pan-European ‘EU Democrats’ shows 72 per cent of voters would like a referendum.
# european-stability-mechanism - Friday 11 May, 2012
Government accused of designing referendum guide ‘to mislead public’
Sinn Féin’s CaoimhghÃn Ó CaoláÃn says the Stability Treaty guide being sent to homes understates the loss of sovereignty.
# european-stability-mechanism - Tuesday 1 May, 2012
FF whip to meet Ó CuÃv over role in referendum No campaign
Seán Ó FearghaÃl is to meet former deputy leader Éamon Ó CuÃv to establish what role he will take in the referendum campaign.
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