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Sunday 26 March 2023 Dublin: 5°C

# Eurozone

All time
# Bailout exit
"The purpose of the programme was actually to exit the programme" - Noonan
The Finance Minster says that Ireland’s decision not to take a post-bailout credit line was because this was a “benign” time. The Troika say Ireland is in a “strong position”.
# Eurogroup
Europe's finance ministers discussing how best to deal with failing banks
Michael Noonan is joining his eurozone counterparts in Brussels later today.
Voices
Column: The real problem to our economic crisis? The eurozone itself is deeply flawed.
Our shared currency system is not just preventing our ability to recover but is at the root of inevitable further looming crises, writes Mike Hall.
# Troika talks
Sinn Féin on Troika meeting: 'We gave it to them hard and heavy'
Pearse Doherty said that officials from the Troika told Sinn Féin that the chances of retrospective bank recapitalisation are “very slim”.
Voices
Damien Kiberd: If Enda wants cash from his EU mates, he needs to stop ticking the boxes
Taoiseach Kenny wrote a letter to 26 EU heads about their 2012 “commitment” to give Ireland special treatment – but they don’t care for wimpish reminders.
Voices
Column: Europe needs a new approach to illegal immigration
Restoring fiscal health to the eurozone remains a serious challenge, but the EU must nevertheless find a solution to its illegal immigration crisis to prevent further tragedies, writes David Moloney.
# banking union
Creation of Single Supervisory Mechanism for eurozone banks is approved
The new set of banking rules “will restore fair lending conditions across the EU,” said Barroso.
# jobless numbers
Slight rise in EU unemployment rate
The biggest increases in unemployment were in Greece and Cyprus. Ireland is seventh worst out of the 28 EU members.
# Italy
Political crisis in Italy as Berlusconi's ministers resign
The five ministers stepped down yesterday after what’s been called a ‘crazy act’ of encouragement from the former leader.
# bailout fund
ESM chief: Recouping of AIB, BoI costs "either difficult or impossible"
The Government had been hoping to unload the debt from the two bailed-out banks.
Voices
Column: What do the results of the German election mean for Ireland and Europe?
David Moloney breaks down the results of the 2013 German federal election, focusing on what kind of impact it will have on the wider eurozone economy – and, specifically, on Ireland’s corporation tax.
# Eurozone
ECB chief says tracker mortgage rates to remain low
Mario Draghi says that the Eurozone is recovering, slowly, but had good news for holders of tracker mortgages.
# bank debt deal
Merkel: Ireland has made good progress, I'm grateful to Enda Kenny
Earlier the Tánaiste Eamon Gilmore said that the result of the German election was never going to impact on Ireland’s push for retrospective recapitalisation of its banks.
# Recession
Good news for Ireland as Eurozone economy ‘stabilising’
New statistics from the European Commission show that recovery is underway.
# News Fix
Here Is What Happened Today: Wednesday
Everyone’s talking about the Leaving Certificate results, Ireland winning a gold medal in Moscow and Europe’s recession coming to an end.
# Bills Bills Bills
NTMA to sell €500m of T-Bills this week
The National Treasury Management Agency (NTMA) will undertake the seventh Treasury Bill sale of 2013 on Thursday.
# Greek Protests
Greece readies itself for another general strike
Unions have called for a one-day national mobilisation against the axing re-deployment of thousands of civil servants.
# IMF
IMF tells eurozone to fix the banks and sort out unemployment
The IMF has given four tasks for the eurozone to complete to ensure recovery.
# POCKET MONEY
Eurozone ministers to decide if Greece should get bailout money
Minister Michael Noonan is in Brussels today for the talks.
# Inflation
Food, alcohol and tobacco prices drive up cost of living
Inflation in the eurozone is expected to be 1.6 per cent for last month, up 0.2 per cent from May.
# Unemployment
Over 26 million people in the EU were unemployed last month
Compared with May last year, the rate of unemployment has increased in 17 member states and fallen in ten.
# Every Little Helps
Debt deals mean we're borrowing €20bn less in next decade - Noonan
The finance minister gives his formal tip-of-the-hat to the news that the two European bailout funds are delaying repayments.
# Five years later
Bank bondholders would be forced to take losses under Noonan plan
The Financial Times has obtained a proposal circulated by Noonan on how Eurozone banks should deal with problems in future.
# Bailout loans
Eurozone bailout fund gives Ireland seven more years to repay loans
Good news for Michael Noonan this morning…
# Bank Bailout
EU finance ministers fail to agree on who should pay for bank bailouts
The 27 EU ministers will meet again Wednesday to try and finalise a decision.
# Retrospective recapitalisation
Noonan: Taxpayers put lots of money into BOI and AIB, now we could get some back
Michael Noonan has explained the significance of last night’s agreement between eurozone finance ministers about the potential retrospective recapitalisation of Ireland’s banks.
# Bailout
Euro finance ministers agree direct help for banks
The 17 eurozone ministers are joined today by their 10 non-euro colleagues to discuss these issues in a Bank Recovery and Resolution Directive.
# Debt deal
Noonan: Ireland will escape bailout, even if we can't recover bank costs
The finance minister says the world recognises that Ireland’s debts are sustainable, but he won’t give up on help.
# Bailouts
EU faces talks on bank sector reform and who should pay for future bailouts
Finance ministers are also expected to formally approve a 7-year extension on Ireland’s and Portugal’s bailout loans.
# Inflation
Cost of living rises in the eurozone but not so much in Ireland
Comparing April and May figures, annual inflation rose in 16 member states, remained stable in six and fell in four.
# You're here forever
Latvia gets the green light to join the euro next year
Latvia will become the second Baltic country, and the 18th overall, to join the EU’s single currency.
# Leinster House
Oireachtas agenda: Abortion hearings, new grocery rules and leaving the euro
The third day of abortion hearings takes place today, while the Dáil debates calls for new rules on leaving the eurozone.
Voices
Aaron McKenna: Money, Money, Must Be Funny In A Eurocrat's World
Bailed-out Ireland is to contribute an additional €90 million to the European Union to help plug a shortfall in its 2013 budget. Ludicrous? Yes – but it’s hardly a blip on the radar of incongruity that is the EU’s funny money parade, writes Aaron McKenna.
# Eurozone
Eurogroup chief says Eurozone is much 'calmer' now than last year
Jean-Claude Juncker was comparing the Eurozone now to a year ago in Brussels.
# Eurozone
France enters recession in first quarter
French economic growth has been sluggish lately as a result of record unemployment and falling household demand – the key driver of the economy.
# your two cents
It might be time to say goodbye to those tiny cent coins
The European Commission is looking at replacing one and two cent coins or getting rid of them entirely due to the costs involved in making them.
# Portugal
Portugal: 30,000 jobs cuts, working hours increased and pension age rises
The cuts should save an estimated €4.8 billion by 2015.
# Italy
After two months, Italy's finally getting a new government
The Chamber of Deputies has passed a motion of confidence in the broad coalition led by new premier Enrico Letta.
# Eurozone
Eurozone inflation hits new low, raising prospect of ECB rate cut
The governing council of the European Central Bank meets on Thursday where it could provide a fresh boost to mortgage holders.