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Monday 11 December 2023 Dublin: 8°C

# European Central Bank

All time
Italian bank governor to become next chief of European Central Bank
Mario Draghi will take over on November 1, when Jean-Claude Trichet’s eight-year term comes to an end. So who is he?
Noonan in Brussels for summit of EU finance ministers
The Minister for Finance heads to the Belgian capital today but is not expected to make any significant progress on the terms of Ireland’s bailout package as Greece, Strauss-Kahn and Portugal dominate the agenda.
ESRI calls for more cuts and higher taxes to wipe deficit
The economic think tank says Ireland should aim to cut it’s budget deficit within three years in order to return to the markets – and that this should be done through pay cuts, spending cuts and higher taxes.
Greece bailout package set for renegotiation
There are conflicting reports about the extent to which Greece needs help but the suggestion that Athens would pull out of the euro has been dismissed as a “stupid idea”.
Minister says developers should no longer be treated as 'social pariahs'
In a speech yesterday, Brian Hayes said that we should not see developers as “suffering from some horrible disease.”
Doctor Doom: ECB could force Ireland into a second recession
Nouriel Roubini says increasing interest rates will strengthen the Euro – and make it difficult for weak countries to recover.
ECB leaves interest rates unchanged - for now
Jean-Claude Trichet gives no indication of an interest rate increase next month – meaning one is now due for July.
Investors keep watch for codeword that signals ECB rate increase
The ECB meets today to decide whether to increase its main interest rate in June – with one phrase being a key indicator.
House prices hit rock bottom - but they won't rise again anytime soon
Standard & Poor’s said in a report that house prices in Ireland are currently at pre-2000 levels of affordability but it sees no sign of the market being active over the next couple of years.
Portugal seals the deal on €78bn EU-IMF bailout
Portugal’s caretaker government signs off on the Eurozone’s third bailout package – but is their deal better than ours?
The Daily Fix: Sunday
Man arrested in Cork on connection with house fire; Tipp man survives horrific stabbing; happy birthday Enda and Eamon; Charlie Bird under fire; the new iPhone; and skills that pay the bills. It’s your Daily Fix…
The BBC bailout documentary: some choice quotes
Dan O’Brien’s half-hour programme on Ireland’s economic downfall gets its first airing. Here are some select excerpts.
Chopra and troika partners seek to allay fears over growth
The so-called troika partners of the EC, ECB and IMF gave a press conference in Dublin this afternoon where they endorsed the Irish government’s programme.
Group launches challenge to Permanent TSB tracker mortgage move
The ‘Protect Our Trackers’ group says a decision to terminate their interest-only periods is a breach of contract.
AIB may forgive debt for struggling mortgage holders
The majority State-owned bank says it might write off a portion of some home loans, in a bid to help out homeowners.
Government asked to respond to the "mortgage arrears crisis"
Worries for 80,000 homeowners after yesterday’s interest rate increase by the European Central Bank.
What will the ECB's interest rate hike mean for your mortgage?
Our at-a-glance guide will tell you how much the ECB’s 0.25 per cent rate increase will add to your monthly repayment.
ECB rise in interest rate to 1.25 per cent will hit Ireland hard say analysts
Interest rates have risen to 1.25 per cent in a move widely anticipated.
Anglo and Irish Nationwide may default if more cash needed – regulator
Financial Regulator Matthew Elderfield says the defunct lenders could burn bondholders if they end up needing more capital.
Bank of Ireland wants the taxpayer off the hook - for now
BoI says it will try to plug its €4.2bn hole without taxpayer help – but is the ECB breaking European law just to give us a hand?
Portuguese bond yields soar after overnight debt downgrade
Portugal’s crisis is taking the shine off the EU summit in Brussels, where leaders have put the finishing touches to a “comprehensive package” in response to the financial crisis.
Ireland's banks increase reliance upon ECB funding
Central Bank figures show that Ireland’s banks are now €96bn in debt to the European Central Bank – a post-bailout peak.
'Shock' among EU ministers over Irish default talk - Lenihan
Brian Lenihan says his Eurozone counterparts are in “considerable shock” over discussions to default on its debt.
German hopes hit as Steinbrück pulls out of ECB running
Peer Steinbrück follows Axel Weber in saying he’s not interested in the top job of European banking – leaving no frontrunner.
Central Bank "creating money" to keep Irish banks afloat - report
Analyst describes the move as a “horror story”.
ECB bought €2.7bn of bonds last week alone
So much for winding down the controversial bond-buying scheme… Frankfurt may have been the only buyer last week.
ECB online game lets you build a bailout
Fiscal management is child’s play, thanks to a new game from the European Central Bank, but it’s not quite so simple…
Traders say ECB buying bonds, despite Trichet silence
The European Central Bank makes no mention of stepping up its buying – but insiders reckon they’re back at it.
Government promises aggressive taxes under EU-IMF bailout agreement
Tax hikes, minimum wage cuts, bank sales and austere budgets in exchange for €85bn – but there’s no hit for bondholders.
G20 officials held urgent talks on eurozone debt - report
A senior G20 source tells Reuters that the bloc’s deputy finance ministers held a teleconference to discuss the crisis.
Cowen insists €85bn bailout agreement is "best possible deal"
€17.5bn of Ireland’s rescue will come from its own pensions reserve, while the remainder comes at a hefty 5.8% charge.
Bank of Ireland comes under state control in €85bn bailout
The EU/IMF emergency fund will make €85bn available for Ireland – but will require the state to recapitalise the banks again.
"In a humiliating U-turn, the government has asked for help"
The world’s press are mixed about the prospect of an Irish bailout – happy that it’s “over”, but furious that it happened.
FG to table corporate tax motion as Europe sets sights
Enda Kenny will try to handcuff the government into keeping the 12.5% rate amid stiff opposition in Europe.
Lenihan admits: Ireland's banks need foreign assistance
The Minister for Finance all but admits that a bailout is needed, saying the banking sector urgently needs funding.
World bailout wrap-up: Ireland expects, and it’s just a matter of time
The eyes of the world are on Ireland – and their judgement is that we now “expect” billions and billions in help.
Battle lines drawn as Europe insists Ireland's banking sector needs its help
As finance ministers meet, Olli Rehn says there’s liquidity crisis in the banks – contradicting Brian Lenihan.
Debt crisis team on way to Dublin
Lenihan maintains Ireland had been “the point of attack” on the state of the euro in recent weeks – but commentators believe ECB, IMF and EC officials coming here to lay groundwork for bailout.