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Friday 2 June 2023 Dublin: 11°C

# ibrc

All time
# you told us
Top readers' comments of the week
Here’s our round-up of the best, the most popular and the most commented-on pieces from the past week. Did you make it in?
Voices
Column: Was the liquidation of IBRC necessary?
Let’s hope IBRC’s liquidation can ultimately be justified – because this type of rush-job smacks of the panicked decisions made in 2008, writes Sarah McCabe.
# Moving On Up?
Ireland's cost of borrowing falls as NTMA formally issues new bonds
The body that manages Irish debt has formally issued new bonds to replace the promissory notes.
# Your Say
Poll: Did the government get a good deal on the promissory notes?
The government argues that swapping the €3.06 billion annual payments for long-term bonds is the best we could have got, but others argue we’re still paying the debt. What do you think?
# need to know
The Evening Fix... now with added Facebook privacy
Here are the things we learned, loved and shared today.
Voices
Column: Will the young pay for the sins of the old under the promissory note deal?
The restructured debt obligation will give the Government fiscal space and breathing room. Whether this benefits the young depends on what they do with that time, writes Sam Brazys.
AS IT HAPPENED
Michael Noonan and Brendan Howlin on promissory note deal
The two Ministers will be holding a press conference from 4pm about the promissory note agreement. Let’s see what they have to say.
# Promissory notes
Kenny: First payment on new Government bonds in 2038
The final payment of the bonds that replace the promissory notes will take place in 2053.
# Promissory notes
TDs question lack of debate on promissory notes
Deputies Micheál Martin and Peadar Tóibín both criticised the lack of facility for debate on the issue in the Dáil today.
# Promissory notes
Draghi says ECB "took note" of IBRC liquidation
The European Central Bank President said that no decision has been taken on the IBRC promissory note.
# Prom Night
Video: TDs argue over when to start debating the IBRC liquidation bill
“Could I honourably suggest that if you want some order from the government TDs then perhaps you should close the Dáil bar.”
# Prom Night
'Is this the Gathering?': The very best #promnight tweets
Whatever happens, we’ll tweet our way out of this.
# Promissory notes
Explainer: What happened last night? Why was IBRC liquidated? What happens now?
Why on earth were the Dáil and Seanad sitting until the small hours of this morning? This might help…
# Prom Night
Hayes: "Substantial contingency planning" by government on IBRC
He also said that Ireland is the most likely country to get back to the markets due to the “extraordinary patience and hard work” of its people over the last five years.
# Promissory notes
Financial services union calls on Noonan to guarantee IBRC jobs
Last night the Finance minister said he understood most staff would be rehired by the liquidators or by NAMA when it takes on the bank’s assets.
# Promissory notes
Central Bank reassures IBRC customers they will be repaid
The banks said all eligible deposits under its guarantee scheme will be covered up to a limit of €100,000 per person.
# Promissory notes
President signs legislation to liquidate IBRC into law
The President returned from his official visit to Rome yesterday to sign the emergency legislation.
# Prom Night
TDs vote to liquidate IBRC in dramatic late-night Dáil sitting
TDs voted by 113 votes to 35 to wind down the former Anglo, laying off its employees with immediate effect.
# Prom Night
LIVE: Seanad debates legislation to liquidate IBRC
Watch live from the Seanad Chamber as members deliberate on whether to immediately wind down the former Anglo.
# Prom Night
Here’s how every TD voted on the Bill to liquidate IBRC
Here’s the total voting chart for how the Dáil divided on its final decision to liquidate the former Anglo Irish Bank.
AS IT HAPPENED
Dáil approves Bill to liquidate IBRC
Catch up with text commentary from the Dáil as TDs voted to wind up the former Anglo.
# Your Say
Poll: Do you support swapping the promissory note for long-term bonds?
The government wants to issue long-term bonds to get rid of the IBRC promissory notes. What do you think?
# ibrc
President Higgins returning to Ireland to consider IBRC legislation
Michael D Higgins has interrupted a trip to Italy to make himself available if the Oireachtas passes an IBRC bill tonight.
# ibrc
Here’s the schedule for the Dáil’s late-night IBRC sitting
It’ll be a late one in the Dail.
# ibrc
Chief Whip says leaking of elements of IBRC plan is ‘unfortunate’
Paul Kehoe: “The Minister for Finance has taken action to secure the stability of IBRC in the face of these leaks.”
# Promissory Note
Dáil to sit at 10:30pm to debate emergency legislation on liquidating IBRC
TDs will reconvene after 10pm tonight to discuss plans to transfer IBRC’s assets to NAMA – as part of a deal to replace the promissory notes with long-term Government bonds.
# Debt
Ireland still has 39% chance of defaulting, says Government's budget adviser
Professor John McHale, the chairman of the Irish Fiscal Advisory Council, said Ireland has made huge progress – but is not out of the woods yet.
# Promissory Note
Technical Group to force Dáil vote on promissory note repayment
15 TDs, led by Shane Ross, have tabled a motion calling for a public assertion that Ireland won’t make the next repayment.
# Promissory notes
Noonan still chasing 'good deal' in promissory note talks
The finance minister says saying the deal is dead is “premature”, but vows: Ireland “is not going to default.”
# Promissory notes
Report: ECB rules out long-term bond to replace promissory note
Reuters cites ECB sources as saying the proposal was discussed this week – and ruled out as being illegal under EU treaties.
# Quinn
Quinn family to appear in court for questioning over assets
The court ruled last month that IBRC could cross examine Seán Quinn’s children to “fill the vacuum”.
Voices
Column: What would it take for Ireland to escape the Anglo promissory note?
Pat Rabbitte has said Ireland won’t make the €3billion payment. But the real situation is much bleaker, writes Sarah McCabe.
# Your Say
Poll: Will the government get a deal on promissory notes?
There have been disputes in cabinet over who gets to say what – but at the end of day, will we get a deal?
# Brussels
Deal on Irish bank debt 'can be reached before 2014' - Kenny
The Taoiseach says discussions on the help Ireland can receive from the ESM can continue before a new banking supervisor is set up.
# Quinn
Commercial Court to allow cross examination of Quinn family
The order allows IBRC to question them about their about bank accounts as well as the alleged transfer of assets to offshore companies.
# Promissory Note
Government will not pay €3.1bn promissory note for former Anglo Irish Bank in March - Rabbitte
The Minister says he is confident of winning over the European Central Bank on the matter before March.
# Anglo
Varadkar: I don't see why we should pay the €3bn promissory note next year
The government is trying to do a deal on Anglo debt to avoid having to pay the €3 billion in March -but the ECB is warning that it may not be possible.
# Anglo
Former Anglo Irish Bank to sue auditors who will 'vigorously defend' case
Ernst & Young is being sued over its involvement in the auditing of the former Anglo Irish Bank prior to it being nationalised nearly four years ago.
# End of an era
GAA fans lose an institution as Quinns of Drumcondra shuts its doors
Where many a day turned to midnight…