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Friday 29 September 2023 Dublin: 14°C

# Debt Crisis

All time
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.
Brussels says report on Troika loan proposal is "simply not true"
The European Commission flatly denies an RTÉ report saying the Troika are considering extending the schedule for repayments.
Euro crisis: Spanish cost of borrowing hits 7pc as investors seek safety
The costs had fallen after Greece’s election, but are back up this morning as the fear of contagion remains…
IMF releases €1.4bn of bailout money to Ireland, warns of slowing growth
So far so good according to the International Monetary Fund, one of our three bailout partners.
Downgraded: Moody's slashes Spain's credit rating
The downgrade comes on foot of an agreement reached at the weekend to bailout Spain’s troubled banking system.
Even Germany's cost of borrowing is beginning to rise again
Although Germany’s bond yields are still far lower than a year ago, it’s been rising sharply in the last few days…
No date for when country will 're-engineer' bank debt - Taoiseach
Enda Kenny said his government remained committed to negotiations to reduce Ireland’s banking debt.
Euro crisis: Spain's cost of borrowing rockets as Lagarde warns of 'race against time'
If you were lending cash to the Spanish government for 10 years, you’d get an annual interest rate of 6.76 per cent.
Report: EU preparing 'worst case scenario' measures if Greece quits euro
Reuters says officials have discussed limits on ATM withdrawals, border checks and capital controls if Greece goes.
Rehn 'still hopes for Irish debt deal' - while Spain's bailout comes without budget rules
The commissioner says he still wants to assist Ireland – and confirms Spain’s banking bailout won’t bring new fiscal conditions.
Good while it lasted: US stocks sink after Spain inspired rally fizzles
Spain’s tough fiscal challenges and the upcoming elections in Greece have added to concerns about the eurozone.
German conditions on Spanish bank deal strike blow to Ireland's hopes
Germany ensured that Spain’s €100bn banking bailout would go through the government – meaning it counts towards national debt.
Spanish bailout is a win for Spain, says Prime Minister
Plus, the reaction from the Spanish press.
Obama to Europe: 'There are solutions to euro crisis'
The US president used a White House press conference to urge Greece to remain in the eurozone and have a pop at his country’s congress while he was at it.
Brussels and Berlin: 'No news' on potential Spanish request for bailout
Both the European Commission and the German government say Spain has not made a formal application for EU funding.
Spain sees borrowing costs rise, while France's hit euro-era lows
It’s a tale of two Europes as countries go to the bond markets this morning…
Estonian president takes to Twitter to bemoan New York Times' economic analysis
The New York Times’ Paul Krugman played down Estonia’s economy. Toomas Hendrik Ilves wasn’t at all pleased.
EU set to unveil new plan to protect taxpayers from bank losses
New proposals aim to ensure that losses are borne by shareholders and creditors.
Moody's downgrades six German and three Austrian banks
Moody’s says six major banks, including the country’s second-biggest Commerzbank, are at risk of eurozone turmoil.
Spain: We're being frozen out of markets, and we need help now
The Spanish treasury minister says Spain “doesn’t have the market door open”, at a time it needs cash to help its banks.
French minister blames US for creating eurozone's debt crisis
France’s new foreign minister hits back at Barack Obama, saying: ‘Lehman Brothers was not a European bank.’
Not for turning: Germany says eurobonds are 'completely inappropriate'
A spokesman for Angela Merkel has reiterated the Chancellor’s opposition to the pooling of eurozone debt, an idea gaining growing support among other eurozone nations.
Portugal to pump €6.65 billion into three banks, passes bailout review
One bank – BPI – has confirmed it is to receive €1.5 billion in capital injections.
George Soros: The eurozone crisis is all Merkel’s fault – and this is why
One of the world’s wealthiest traders – and one of its most-respected philanthropists – has an interesting theory.
'We have to get a deal on our bank debt' - Tánaiste
Following the passing of the Fiscal Compact treaty, Eamon Gilmore said that Ireland now needed to get a deal to lessen the burden on the Irish taxpayer.
Eurobonds will come sooner or later, reckons Mario Monti
A Europe divided: in the very same newspaper, Germany’s foreign minister Guido Westerwelle says they’re a no-go area.
Krugman: Ireland voted for a 'bad idea' - and euro could collapse in two years
The Nobel-winning economist isn’t impressed with Ireland’s vote – but reckons it could all be fairly meaningless anyway.
Swiss central bank chief: 'We’re making provisions for a euro break-up'
Thomas Jordan says he’s not expecting the euro to collapse, but that Switzerland is getting ready, just in case…
Stocks open mixed as Europe summit disappoints
European markets are up – but only modestly – while the US markets tread water after an indecisive summit in Brussels.
Innovation? Controversy? What's on the table at today's meeting of EU leaders?
Promoting jobs and growth along with balancing budgets will be on the agenda today.
Explainer: What are Eurobonds and why do they matter?
Your quick guide to current proposals for a commmon euro-area bond.
G-8 leaders to focus on European financial crisis
Energy will also be on the agenda, as the world looks to the oil markets in advance of scheduled sanctions on Iranian oil exports.
Obama to meet Hollande before G8 summit
The new French president is set to visit the White House today.
Moody's in mass downgrade of 16 Spanish banks
The ratings agency raised fears over the “creditworthiness” of the country and its ability to support its banks.
Eurozone GDP unchanged in the first quarter of 2012
Modest growth in the likes of Germany is offset by falls in other large countries like Italy; France is also perfectly flat.
Noonan urges Greek parties to form government and stay in the euro
Attending a summit in Brussels, Michael Noonan says it is “very important that the eurozone stays intact”.
Going down: Markets fall across Europe as Spain sells off €2.9bn of bonds
Spain paid a higher interest rate on the short-term bonds as markets have reacted badly to the ongoing uncertainty in Greece and the wider eurozone.
Explainer: New elections? Euro exit? Just what is going on in Greece?
Political turmoil, soaring unemployment, falling markets, rubbish credit ratings. It’s all going off in Greece at the minute and not in a good way. But what’s going to happen next?
Honohan's call for direct recapitalisation of banks is '€64bn too late' - SF
Sinn Féin has welcomed a call from the governor of the Central Bank for distressed banks to be directly recapitalised from EU funds.