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Tuesday 7 February 2023 Dublin: 9°C


All time
# Accounting Error
Department of Finance was told about the €3.6bn mistake last year - but did nothing
Michael Noonan has announced a review will be carried out to determine how the “humiliating schoolboy error” was made and why it was ignored.
# Daily Fix
The Daily Fix: Thursday
In tonight’s Fix: The presidential candidates doing well in the latest opinion polls; tributes flow for Steve Jobs, and who is the Irish Examiner columnist who is accused of plagiarism?
# NewERA
Shane Ross, NTMA chief clash over NewERA appointment
Shane Ross and John Corrigan, the head of the NTMA, exchange harsh words over the management of the NewERA programme.
# BaNAMA Republic
NAMA chairman defends paying six-figure salaries to developers
Frank Daly tells an Oireachtas committee that hiring a developer on a big salary is often cheaper than appointing a receiver.
Stresses in eurozone 'overshadow' Ireland's economic progress: NTMA
The resolution of the eurozone issues are “fundamental” to Ireland returning to the bond markets next year, the NTMA says in its annual report.
# Junk
European Commission slams "incomprehensible" Moody's downgrade
Jose Manuel Barroso’s spokesman says the Commission can’t understand why Moody’s is taking such a dim view.
# Junk
Department of Finance 'disappointed' by Ireland's junk status
Moody’s decision to downgrade appears to indicate we’ll need a second bailout.
# Bonus
NTMA staff paid an average of €7,700 in 2010 bonuses
NAMA staff are among those who received additional payments for 2010. Two million euro was paid out in total.
# Pay Cap
Government lowers pay ceilings for semi-state chief executives
But the State’s next round of public CEOs will still earn as much as the next President, and more than the Taoiseach.
# US Trip
Mr Noonan goes to Washington: Minister begins investment tour
The Minister for Finance is trying to drum up new business – and will meet the man who stopped us burning the bondholders.
# Bailout 2?
Noonan: Ireland has enough cash to get to mid-2013 at least
The Minister for Finance insists Ireland has enough bailout funds to get to mid-2013 at worst – but the opposition isn’t sure.
# Public Pay
Senior NTMA and NAMA staff waived €850k bonuses for 2010
While some staff at the National Treasury Management Agency received bonuses, three major CEOs declined theirs.
# Daily Fix
The Daily Fix: Wednesday’s round-up of the evening’s top stories – and the interesting tidbits of the day.
Sale of EBS halted by the government
The National Treasury Management Agency says the sale of the building society was not ‘commercially attractive’
# Default Republic?
AIB says payment ‘will be made’ following rumours of default on bond interest repayments
AIB insisted that “payment will be made” after a rumour that Ireland has missed a scheduled interest payment on its bonds sent the price of short-term borrowing spiralling earlier today.
# Sobering
Scale of economic problems revealed to parties
Fine Gael and Labour have said that the true scale of the economic crisis has been revealed to them during briefing in recent days – and described the news as “sobering”.
# Bailout
Irish government sought bank bailout from Libya
A report says that Brian Lenihan knew of a visit to Libya to secure funding for troubled Irish banks.
# Banks
High Court approves sale of Anglo and Irish Nationwide assets
The National Treasury Management Agency can now begin auction process of Anglo and INBS deposits.
# Bailout
Ireland 'could return to bond markets' this year
The NTMA says it hopes it can bypass Ireland’s bailout funds – as the cost of serving our debt eats up 15% of the tax take.
# Bailout Republic?
EU official: Ireland in talks to accept dual bailout
Ireland is speaking to the EU and the IMF about seeking money for itself and its banks, says a diplomat.
# Banking Bailout
State appoints PwC to help run nationalised AIB
PricewaterhouseCoopers gets the AIB gig – despite having said Anglo would only cost a total of €4bn. Whoops.
# Black Thursday
The world reacts to Ireland's Black Thursday
International commentators invoke a raft of dire imagery – from bodies flung off skyscrapers to a children’s story book – to describe the economy’s downward trajectory.
# Government Bonds
Cowen admits bond cancellation is because of high yields
The Taoiseach says we’re not borrowing because of its costs – while the NTMA had earlier said it was a precaution.
# Bailout Republic?
ECB holds off on intervention as bonds breach 6.55%
The market price of 10-year Irish government debt reaches another record – but there’s no European intercession.
# Bill Auction
Success! Short-term bond auction sees prices drop
# Bill Auction
NTMA holds short-term bill auction to calm markets
A pre-scheduled treasury bond issue gives Ireland a chance to soothe investors’ fears.