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#Debt Crisis

# debt-crisis - All time

Unemployment remains at 14.3 per cent, as 4,000 off the Live Register
# Live Register
# Live Register

Unemployment remains at 14.3 per cent, as 4,000 off the Live Register

May 2nd 2012, 11:04 AM 2,408 Views 44 Comments

The number of people on the Live Register fell by 4,000 last month, though unemployment remained at 14.3 per cent.

Eurozone unemployment reaches highest level in currency's history
# Jobs Crisis
# Jobs Crisis

Eurozone unemployment reaches highest level in currency's history

May 2nd 2012, 10:51 AM 1,468 Views 25 Comments

The seasonally adjusted unemployment rate in the eurozone was 10.9 per cent in March – up by 1pc in twelve months.

ICTU meets today to determine Fiscal Compact stance
# Referendum
# Referendum

ICTU meets today to determine Fiscal Compact stance

Apr 25th 2012, 7:20 AM 1,100 Views 34 Comments

Three major trade unions have called on its members to vote No in the referendum next month.

Ireland recorded a 13.1 per cent deficit last year
# Debt Crisis
# Debt Crisis

Ireland recorded a 13.1 per cent deficit last year

Apr 23rd 2012, 11:24 AM 2,419 Views 13 Comments

Without the whole banking debt, it could have been down to 9.4 per cent.

Kenny wants ESM amended to allow direct loans to banks
# ESM Treaty
# ESM Treaty

Kenny wants ESM amended to allow direct loans to banks

Apr 23rd 2012, 10:59 AM 1,680 Views 18 Comments

The Taoiseach tells the German edition of the Financial Times: ‘There’s a widespread belief that the ESM should lend to banks.’

Finance ministers agree to pump €325bn more into IMF
# Firefighting
# Firefighting

Finance ministers agree to pump €325bn more into IMF

Apr 20th 2012, 8:51 PM 2,638 Views 9 Comments

The world’s 20 largest economies will put $430bn more into the IMF in order to boost its lending capacity.

Rabbitte: Ireland deserves ECB recognition for taking a hit on banks
# Bailout
# Bailout

Rabbitte: Ireland deserves ECB recognition for taking a hit on banks

Apr 20th 2012, 10:59 AM 3,158 Views 71 Comments

The Communications Minister said that Labour’s poor showing the polls was to be expected given the economic situation and the historic problems for junior coalition partners.

Italian government puts back 'balanced budget' plan to 2015
# Italian Economy
# Italian Economy

Italian government puts back 'balanced budget' plan to 2015

Apr 18th 2012, 2:48 PM 1,236 Views 5 Comments

Mario Monti’s government says the economy will shrink three times more than expected, and that they’ll need more time.

Two down, 23 to go: Portugal second country to ratify Fiscal Compact
# Fiscal Compact
# Fiscal Compact

Two down, 23 to go: Portugal second country to ratify Fiscal Compact

Apr 13th 2012, 9:29 PM 3,121 Views 9 Comments

Portugal’s parliament ratifies the treaty with a huge majority, following Greece in signing up to the new treaty.

Lagarde cites Ireland as role model in back-to-work policies
# IMF
# IMF

Lagarde cites Ireland as role model in back-to-work policies

Apr 12th 2012, 8:43 PM 6,924 Views 48 Comments

The IMF managing director said other countries should follow Ireland’s example by targeting training and providing incentives.

Spain village votes on growing cannabis to pay off debt
# Debt Crisis
# Debt Crisis

Spain village votes on growing cannabis to pay off debt

Apr 10th 2012, 7:37 PM 6,395 Views 33 Comments

The town of Rasquera, with a population of 960 people, will decide on whether to lease land to cannabis-growers in order to pay off debts.

Cowen compares banking crisis to 'multiple plane crashes occurring at once'
# Debt Crisis
# Debt Crisis

Cowen compares banking crisis to 'multiple plane crashes occurring at once'

Mar 27th 2012, 6:45 AM 4,405 Views 43 Comments

In a speech in Washington, the former taoiseach also attacks conventional political thinking in advance of the crisis.

Translated: The Fiscal Compact rewritten in layman's terms
# Translated
# Translated

Translated: The Fiscal Compact rewritten in layman's terms

Mar 19th 2012, 8:44 AM 13,400 Views 52 Comments

We’ve translated the treaty, sentence by sentence, to try and make the document easier to read for the general public.

Juncker hails "unique opportunity" as Greece gets new bailout funds
# Debt Crisis
# Debt Crisis

Juncker hails "unique opportunity" as Greece gets new bailout funds

Mar 14th 2012, 2:10 PM 836 Views 3 Comments

Eurozone members have agreed to release the first €39.4 billion of funds under Greece’s second bailout programme.

Spain wins budget concessions from Eurogroup - but more austerity will follow
# Eurozone
# Eurozone

Spain wins budget concessions from Eurogroup - but more austerity will follow

Mar 13th 2012, 8:37 AM 1,508 Views 38 Comments

A meeting of Eurozone finance ministers sees Spain encouraged to frontload budget cuts in order to achieve EU deficit targets.

Success for Greece as huge majority of investors agree to bond swap
# Greece
# Greece

Success for Greece as huge majority of investors agree to bond swap

Mar 9th 2012, 7:32 AM 2,166 Views 19 Comments

The biggest sovereign bond swap in history will unltimately see 95.7 per cent of investors agree to write down their debts.

Cabinet to discuss timing of 'one-off' fiscal compact referendum
# Referendum
# Referendum

Cabinet to discuss timing of 'one-off' fiscal compact referendum

Mar 6th 2012, 7:31 AM 1,635 Views 70 Comments

The Cabinet will this morning discuss a draft timetable for putting the fiscal compact referendum to the public.

12 major investors agree to write off parts of Greek debt
# Greek Bailout
# Greek Bailout

12 major investors agree to write off parts of Greek debt

Mar 5th 2012, 3:43 PM 2,782 Views 19 Comments

An organisation representing the biggest holders of Greek debt say they have agreed to a deal that paves the way for Greece’s second EU-IMF bailout.

Enda Kenny hails Irish 'resilience' through crisis
# Recession
# Recession

Enda Kenny hails Irish 'resilience' through crisis

Mar 4th 2012, 11:09 AM 3,396 Views 66 Comments

The Taoiseach acknowledged many people are concerned for the future, but said Ireland has “great potential”.

Deja vu: ECB gives banks new money - and banks save it in the ECB
# ECB
# ECB

Deja vu: ECB gives banks new money - and banks save it in the ECB

Mar 2nd 2012, 12:42 PM 1,965 Views 20 Comments

Overnight deposits in the ECB surged to their highest ever, just a day after it issued €529 billion to boost credit markets.

ECB pumps €529bn of new cash into European banking system
# ECB
# ECB

ECB pumps €529bn of new cash into European banking system

Feb 29th 2012, 10:50 AM 1,135 Views 11 Comments

The second round of unusually lengthy lending sees the ECB lend €529bn to banks, hoping the cash will be passed onward.

S&P downgrades Greece into 'selective default' territory
# Downgrade
# Downgrade

S&P downgrades Greece into 'selective default' territory

Feb 28th 2012, 7:48 AM 1,579 Views 11 Comments

The ratings agency demonstrates it can read, by officially acknowledging that Greece’s bond-swap is a ‘selective default’.

IMF signs off on latest €3.2 billion loan to Ireland
# Bailout
# Bailout

IMF signs off on latest €3.2 billion loan to Ireland

Feb 28th 2012, 7:24 AM 2,324 Views 60 Comments

The IMF signs off on the fifth review of its bailout, and is releasing €3.2 billion to Ireland – bringing its total IMF debt to €16bn.

'An offer they can't refuse': German minister wants Greece to leave eurozone
# Debt Crisis
# Debt Crisis

'An offer they can't refuse': German minister wants Greece to leave eurozone

Feb 27th 2012, 9:20 AM 3,620 Views 44 Comments

The interior minister Hans-Peter Friedrich tells Der Spiegel that instead of forcing Greece out, it should get offers it “can’t refuse”.

Fitch: 'Highly likely' that Greece will default soon
# Uh-Oh
# Uh-Oh

Fitch: 'Highly likely' that Greece will default soon

Feb 22nd 2012, 12:35 PM 2,918 Views 22 Comments

The ratings agency has downgraded Greece just one day after EU leaders agreed on a €130 billion bailout deal for the country.

Borrowing costs for eurozone bailout fund fall after Greek deal
# Bond Auction
# Bond Auction

Borrowing costs for eurozone bailout fund fall after Greek deal

Feb 21st 2012, 11:36 AM 1,613 Views 7 Comments

The EFSF issues a new round of 6-month bills – with interest rates significantly lower than at the same time last month.

ECB steers clear of bond-buying for first time since August
# Bond Markets
# Bond Markets

ECB steers clear of bond-buying for first time since August

Feb 21st 2012, 9:03 AM 1,208 Views 2 Comments

Last week marked the first time in six months that the European Central Bank didn’t intervene in the sovereign bond markets.

Bailout for Greece likely to be decided by Monday
# Bailout
# Bailout

Bailout for Greece likely to be decided by Monday

Feb 16th 2012, 8:15 AM 1,347 Views 31 Comments

Eurozone finance ministers held a 3 1/2 hour conference call last night to discuss Greece.

Doubts remain over approval of Greece's second bailout
# Greece
# Greece

Doubts remain over approval of Greece's second bailout

Feb 15th 2012, 10:33 AM 1,346 Views 23 Comments

A meeting of eurozone finance ministers due today has been put back until Monday, due to concerns over “political assurances”.

Greece’s budget deficit for 2012 is already €1bn bigger than expected
# Hell-as
# Hell-as

Greece’s budget deficit for 2012 is already €1bn bigger than expected

Feb 14th 2012, 1:15 PM 2,223 Views 41 Comments

Greece expected its income for January to be 8.9 per cent higher than last year. It actually fell… by 7 per cent.

Moody's downgrades six European countries - and warns of more to come
# Credit Rating
# Credit Rating

Moody's downgrades six European countries - and warns of more to come

Feb 14th 2012, 7:39 AM 2,354 Views 15 Comments

France and the UK were both warned that they could lose their coveted AAA credit rating.

Major riots in Athens as Greek parliament approves austerity deal
# Greece
# Greece

Major riots in Athens as Greek parliament approves austerity deal

Feb 12th 2012, 10:53 PM 7,215 Views 104 Comments

Fireballs light up the evening sky in the Greek capital as parliament approves new austerity measures to help secure a €130bn bailout.

Greek PM warns of ‘economic and social catastrophe’ if MPs vote No
# Greece
# Greece

Greek PM warns of ‘economic and social catastrophe’ if MPs vote No

Feb 12th 2012, 12:09 PM 2,471 Views 86 Comments

Lucas Papademos goes on TV to warn that the cost of a Greek default is far greater than that of a second bailout.

Greek government warns rebel MPs of "dangerous path" to default
# Default
# Default

Greek government warns rebel MPs of "dangerous path" to default

Feb 11th 2012, 11:10 AM 1,426 Views 14 Comments

MPs vote tomorrow on approving the government’s new austerity plans – but many have threatened to scupper it.

Gilmore confirms Irish push for ‘flexibility’ in fiscal compact deal
# Treaty
# Treaty

Gilmore confirms Irish push for ‘flexibility’ in fiscal compact deal

Feb 11th 2012, 8:45 AM 2,874 Views 111 Comments

Eamon Gilmore says Ireland DID look for the new ‘debt brake’ to be ‘preferably’ constitutional, but so did other countries.

Greece leaders reach deal on more austerity and cuts
# Greece
# Greece

Greece leaders reach deal on more austerity and cuts

Feb 9th 2012, 1:41 PM 2,493 Views 63 Comments

The Greek Prime Minister said that there was “broad agreement” on all points of the new programme -with one exception.

Second bailout talks resume today as Greece tries to avoid bankruptcy
# Eurozone
# Eurozone

Second bailout talks resume today as Greece tries to avoid bankruptcy

Feb 6th 2012, 7:34 AM 1,084 Views 6 Comments

The leaders of the three coalition parties meet with the PM to agree on austerity measures so a €130bn bailout can be secured – and a default avoided.

Kenny 'acted like an eejit' with Sarkozy, insists angry Adams
# EU Treaty
# EU Treaty

Kenny 'acted like an eejit' with Sarkozy, insists angry Adams

Jan 31st 2012, 4:04 PM 11,348 Views 151 Comments

The first Dáil exchanges since the EU treaty was finalised are angry ones, as Kenny and Adams exchange particularly harsh words.

Final text of Fiscal Compact deal may allow Ireland to avoid referendum
# Fiscal Compact
# Fiscal Compact

Final text of Fiscal Compact deal may allow Ireland to avoid referendum

Jan 31st 2012, 12:36 PM 3,060 Views 59 Comments

The final text of the treaty agreed by 25 EU leaders last night says the debt brake will only ‘preferably’ be constitutional.

Opposition parties disappointed in EU treaty
# Eurozone
# Eurozone

Opposition parties disappointed in EU treaty

Jan 31st 2012, 7:39 AM 1,356 Views 14 Comments

As the Cabinet meet today, both Fianna Fáil and Sinn Féin have spoken out against the outcome of yesterday’s informal EU meeting.