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Thursday 22 October 2020
Their campaign will continue, however.
Finance Minister Michael Noonan said it is unclear whether the €280 million worth of bondholders will pursue their claims but if they do, they may be legally entitled to a dividend.
The former EU Economics Commissioner also said he would consider attending the Banking Inquiry.
Burning the bondholders would be “akin to sovereign default” Eamon Gilmore told the Dáil this morning and said the issue of the promissory note has been “resolved”.
The motion was defeated by 77 votes to 40 in the Dáil this evening with Sinn Fein and Independents supporting it and Fine Gael and Labour in opposition.
The government will almost certainly oppose the motion and ensure that it does not pass when a vote is held tomorrow night.
Strict new coronavirus measures have come into effect – here’s what they mean for you.
The protestors – who have held weekly marches opposing the bailout – want help getting a meeting with the ECB.
After Stephen Donnelly reports the Troika shifted blame from themselves, Michael Noonan says: it’s Trichet’s fault.
5 minutes, 5 stories, 5 o’clock…
The ‘Ballyhea says No!’ protest group reached the capital today, demonstrating against payments to bondholders.
The Minister for Finance will travel to Frankfurt today, amid reports the ECB may let Spain impose losses on senior bondholders.
The gap between those who can access the markets and those who can’t continues to wide, writes Nick Leeson…
A motion being debated this evening and tomorrow would see the State back out of repaying bonds and promissory notes.
The representative of Greece’s private creditors has left the country.
5 minutes, 5 stories, 5 o’clock…
Michael Noonan tells an audience in Berlin that senior bondholders in banks, or in the Irish state itself, will be repaid in full.
Bank of Ireland raises €350m by buying back capital securities – meaning there is no need to write down its junior bonds.
Ajai Chopra, Chief Negotiator with the IMF, reveals that his group would have backed such a move – but the European partners in the bailout would not.
Finance Minister Michael Noonan says he is considering writing down some subordinated liabilities by up to 100 per cent.
Michael Noonan says he would like to share the burden of Anglo with its bondholders, but that the ECB wouldn’t support it.
Gerry Adams said the Government was refusing to properly debate the payment of over €700m to bondholders.
Nine things you should know this morning…
The savings mean the taxpayer will have to give the bank less cash to keep it afloat.
Former trader Nick Leeson says lessons never seem to be learned by regulators – but we should focus on some suggestions from the British Chancellor to ensure history doesn’t repeat itself.
Preliminary results of AIB’s burden-sharing exercise, largely cleared by the courts last week, are positive for the public.
The last bank outside State ownership wants to save as much as it can of the €2.6bn it owes in subordinated bonds.
Respected economist Nouriel Roubini says troubled European countries face insolvency unless they can make creditors share the burden.
Nine things you need to know by 9am: Anger over the government’s failure to make the bondholders share the pain; Financial Regulator Matthew Elderfield says criminal charges will come, and red faces for Royal aides as they invite the wrong Mary to the the wedding of William and Kate.
AS THE COUNTRY enters Level 5 restrictions for the next six weeks, we’ll all be finding different ways to occupy our time or take a break from work.
In April and May, many people put their trainers on and went for long walks, jogs or runs. Others took a dip in the sea.
With restrictions now in place, we want to know: Do you plan to exercise more over the next six weeks?
Poll Results:
Share your story: voices@thejournal.ie
Lecturer Maeve O’Rourke analyses the government’s nine main arguments in relation to the Bill.
Chilly with a blend of sun and clouds
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Min: 6 °C
Clouds and sun with a couple of showers
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Winds subsiding with periods of rain
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Min: 6 °C
