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Thursday 8 June 2023 Dublin: 15°C

# European Central Bank

All time
# Greece
Auditors to stay in Greece until new reforms are ready
Auditors from the EU, IMF and the European Central Bank are to stay in Greece until a credible reform programme is formed.
# Eurozone
Mario Draghi: The ECB will do "whatever it takes" to save the euro
Stock markets around the world rocketed after the usually reserved ECB president insisted the euro would not be abandoned.
# Bondholders
Noonan meets ECB head Draghi: Will he allow us burn the bondholders?
The Minister for Finance will travel to Frankfurt today, amid reports the ECB may let Spain impose losses on senior bondholders.
# Global Economy
IMF predicts slower economic growth for world
Europe’s financial crisis and a potential budget crisis in the United States could slow world growth even further, according to the International Monetary Fund’s latest forecast.
# Mortgages
Passing ECB cut on to customers a 'commercial decision for each bank' - Dept of Finance
Tracker mortgage customers will see their rate adjusted as per the ECB change – but what about other mortgage holders?
# Interest Rate
ECB cuts interest rate to record low
Key eurozone interest rate cut by 0.25 per cent.
# Mortgages
Falling German inflation could mean ECB cut for mortgage holders
New data shows German inflation at its lowest for 18 months – meaning less pressure on the ECB to keep rates up.
# Deal or no deal?
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.
# Spain
Spanish bailout: what we know so far
An essential round-up of the details to date of the Spanish bailout, from interest rates to lending conditions.
ECB leaves interest rate unchanged at 1pc
# Troika
In full: The Troika's statement after the latest bailout review
The full text of a statement circulated by the European Commission, European Central Bank and International Monetary Fund.
Howlin and Noonan on the Troika’s sixth review of the bailout
The Troika has completed the sixth review of Ireland’s bailout programme and the Minister for Finance and Minister for Public Expenditure and Reform briefed the press earlier today.
# Bailout
In full: Ireland 'successfully concludes' latest EU-IMF review
The full text of a statement issued this lunchtime by Michael Noonan and Brendan Howlin after the sixth Troika inspection.
# Bailout
Troika to deliver verdict on bailout as programme reaches halfway point
Officials from the EC, IMF and ECB are expected to give Ireland the thumbs up on its bailout.
# Stonewalled
ECB president: 'No plans to make a deal on promissory notes'
Mario Draghi tells Gay Mitchell there’s no deal – and is warned that the EU is only “slightly more popular than the measles”.
# Bond Markets
ECB may re-enter bond markets after Italian auction flops
Investors declined the opportunity to buy short-term Italian bills this morning, seeing interest rates double from last month.
# Promissory notes
ECB president: 'Utmost importance' that Ireland continues promissory note repayments
Mario Draghi expects Ireland to keep up its annual repayments of the promissory note, dodging questions about a larger deal.
# Bond Wars
German central bank 'to stop taking Irish bonds as collateral'
A German newspaper report says the Bundesbank won’t take Irish, Greek or Portuguese bonds from banks any more.
# Debt
Explainer: What's reportedly being discussed in talks on Ireland's bank debt?
RTÉ says Ireland’s banks could be given bonds by the EFSF, which could then be used to go to the ECB and get funds.
# Promissory notes
Confirmed: Noonan announces deal on promissory notes
The government had been in negotiations for some time with the European Central Bank over the €3.1 billion note which was due to be paid by this Saturday.
# Honohan
Central Bank governor before Oireachtas Finance Committee today
Patrick Honohan is due to answer questions over the Anglo Irish promissory note repayment and the emergency liquidity provided to banks during the crisis.
# Promissory notes
ECB set to discuss Irish deal on promissory note
Bloomberg reports Patrick Honohan will formally ask the ECB’s permission today to restructure Ireland’s promissory notes deal.
# Promissory notes
Noonan outlines possible changes to promissory note deal
The Finance Minister has told the Dáil that the €3.1 billion repayment due next week could be converted to a long-term bond instead.
# Banks
Troika deal could move tracker mortgages to IBRC - Noonan
The minister for finance tells RTÉ that loss-making mortgages could be taken off the books of AIB and Permanent TSB,
# Every Cloud...
At least someone’s making money: ECB profits quadrupled last year
A ballooning balance sheet and bigger roles in the bond markets meant the ECB turned profits of €728m, up from €171m.
LIVE: ECB president Mario Draghi’s press conference in Frankfurt
Mario Draghi will give a press conference at 1:30pm following a meeting where Anglo’s promissory notes were up for discussion.
ECB leaves main interest rate unchanged at 1 per cent
As expected, the monthly meeting of the ECB’s governing council decides not to tinker with the main interest rates.
# Promissory notes
Honohan set to make case to ECB for deal on Anglo promissory notes
The ECB’s monthly meeting of central bank governors will give Patrick Honohan a chance to explain the need to strike a deal.
Deja vu: ECB gives banks new money - and banks save it in the ECB
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
The second round of unusually lengthy lending sees the ECB lend €529bn to banks, hoping the cash will be passed onward.
# Downgrade
S&P downgrades Greece into 'selective default' territory
The ratings agency demonstrates it can read, by officially acknowledging that Greece’s bond-swap is a ‘selective default’.
# Bond Markets
ECB steers clear of bond-buying for first time since August
Last week marked the first time in six months that the European Central Bank didn’t intervene in the sovereign bond markets.
ECB interest rates remain unchanged
ECB head Mario Draghi said that there are “tenatative” signs of stabilisation in the eurozone.
# Bondholders
ECB affirms: Investors won't lend to you if you burn bondholders
The ECB declines to comment on Leo Varadkar’s remarks, but says its stance on Irish burden-sharing is well-known.
# Bailout
Troika warned 'a bomb will go off' in Dublin unless bondholders repaid
Transport Minister Leo Varadkar conveyed the strong words from the Troika partners in an interview last night.
# Troika
IMF and ECB divided on whether Ireland should burn bondholders
The IMF says burden-sharing is an option, but the ECB says it’s worried that doing so cause panic to “spill over” to Europe.
# Emigration
Noonan's emigration comments branded 'a disgrace' by opposition
Sinn Féin’s finance spokesperson Pearse Doherty has said that Michael Noonan’s comments earlier today were “deeply insulting”.
The Troika's press conference on the latest bailout review
The European Commission, European Central Bank and International Monetary Fund discussed Ireland’s bailout progress.