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Was it legal? High Court refers PTSB bail-out case to Europe
The High Court could not rule on whether the move was legal.
Your contributions will help us continue to deliver the stories that are important to you
The High Court could not rule on whether the move was legal.
The Finance Minister was accused of failing to deliver a deal on bank recapitalisation.
Michael Noonan has explained the significance of last night’s agreement between eurozone finance ministers about the potential retrospective recapitalisation of Ireland’s banks.
AIB’s move, coming a week after Bank of Ireland, adds €56.50 per month to a 25-year mortgage worth €250,000.
The annual report from the Comptroller & Auditor General says State spending reached an all-time high in 2011.
As this image reveals, quite a bit.
Sinn Féin has welcomed a call from the governor of the Central Bank for distressed banks to be directly recapitalised from EU funds.
The Central Bank governor also said Irish banks should be recapitalised with EU funds – and without running up our national debt.
The 99.8 per cent state-owned bank will seek the redundancies as part of plans to reduce its staff costs by €170 million per year.
The bank – which is 99.8 per cent owned by the taxpayer – still pays fees for thousands of staff, despite a State ban on bonuses.
Michael Noonan tells an audience in Berlin that senior bondholders in banks, or in the Irish state itself, will be repaid in full.
New data published by the Department of Finance show that income tax, VAT and corporation tax were all lower than expected.
The Minister for Finance says that the €1.3 billion that will be needed to recapitalise the financial institution has already been accounted for.
New figures from the Exchequer also show its deficit has blown up to €22.2 billion due to payments made to recapitalise Irish banks.
Finance minister Michael Noonan has also said that the banking sector is now well-placed to deal with any further distress in the economy.
The Minister for Finance is granted a court order to inject €4bn of public funds into Irish Life & Permanent.
A group of investors has agreed to buy up to €1.123bn of the state’s stake in Bank of Ireland, meaning the state is now likely to put €1.7bn into the bank.
However, the Minister for Finance Michael Noonan has vowed to go ahead with the plans to recapitalise IL&P in spite of the shareholders’ wishes.
The government is proposing to inject nearly €4 billion to take 99 per cent control of the bank.
The savings mean the taxpayer will have to give the bank less cash to keep it afloat.
Olli Rehn’s spokesman said the European Union thought Brian Lenihan’s delay was “temporary” – but still wants it done.
The Fine Gael spokesman says he believes Brian Lenihan didn’t receive the approval of the EU or IMF before his announcement.
Was postponing any further bank recapitalisations a prudent political move brought about by Fine Gael pressure, or an epic Fianna Fáil masterstroke?
A Deputy Leaders’ debate sees Mary Hanafin, James Reilly and Joan Burton discuss the economy and other issues.
Brian Lenihan offers AIB €3.7bn from the National Pensions Reserve Fund, after asking the High Court for a ‘private hearing’ on the matter.
Bank must send plan forward to the Financial Regulator before the end of the year.
A trading update from the country’s biggest retail banks reveals a massive outflow in cash deposits.