The IMF and EU teams on the ground in Athens are expected to conclude their work by tomorrow, according to the Greek finance minister. “We are concluding the negotiations and I hope they will be finished … by Wednesday,” Finance Minister George Papaconstantinou told Antenna TV. It is still expected that it will be next [...]
Archive for May, 2011
GreekWatch (Day 7 of 13) – will you soften your approach to Greece? “that is not the case” says ECB
Posted in Greece, IMF, Irish economy, Politics on May 31, 2011 | 2 Comments »
Private sector deposits in Irish banks rise for first time since last October 2010
Posted in Banks, IMF, Irish economy, Politics on May 31, 2011 | 13 Comments »
Figures released by the Central Bank of Ireland (CBI) this morning for the month of April 2011 show that the flight of domestic private sector deposits from Irish banks reversed in April 2011. Deposits in the six state-guaranteed financial institutions were up nearly €2bn to €108bn, the first month-on-month increase since October 2010. This will [...]
The Central Bank of Ireland annual report for 2010 : it could have been worse but not by much
Posted in Banks, Irish economy on May 31, 2011 | 2 Comments »
There’s a curiosity on page 97 of the Central Bank of Ireland Annual Report published yesterday. The Governor, Patrick Honohan’s salary is shown as €276,324 whilst the Financial Regulator who reports to the Governor was apparently paid €348,462 and in addition was paid €75,299 for relocation, rent and other expenses. Now why would you pay [...]
Anglo and INBS stress test results to be published today
Posted in Banks, IMF, Irish economy, Politics on May 31, 2011 | 2 Comments »
Well it’s the very last day of May 2011 and despite rumours that they would have been published sooner, the governor of the Central Bank of Ireland, Patrick Honohan confirmed yesterday with the launch of the Bank’s annual report that the stress test results would at last be published today. Minister Noonan had previously said [...]
Will Ireland need an additional bailout?
Posted in Banks, IMF, Irish economy, Politics on May 30, 2011 | 4 Comments »
Probably, yes. Not to cover any new expense or hidden cost lurking in Irish banks, it should be stressed; simply to fund debt that is maturing, and possibly to replace short term emergency lending from central banks. This entry examines the issue. Minister Leo Varadkar’s words reported in yesterday’s (Irish) Sunday Times (not available online [...]
GreekWatch (Day 6 of 13) – “A debt restructuring, or exiting the euro, would be like the death penalty – which we have abolished in the European Union”
Posted in Greece, IMF, Irish economy, Politics on May 30, 2011 | Leave a Comment »
The IMF and EU teams remain on the ground inAthensas they work through their assessment of compliance byGreecewith the bailout agreement and the prospects of success for the new austerity and privatisation measures. They are due to report on 6th June, 2011 – day 13 of GreekWatch Yesterday Tanaiste Eamon Gilmore unconvincingly told RTE radio [...]
GreekWatch (Day 5 of 13) : They have to progress from “this is what I don’t like” to “this is what I like”
Posted in Greece, IMF, Irish economy, Politics on May 29, 2011 | 9 Comments »
Sunday seems to be a day of rest for politicians and central bankers; so, little to report from these sources today. On the other hand, Sunday is features day for many newspapers and magazines and there is no shortage of comment on the developing Greek problem. First up, the IMF emailed a statement to Reuters [...]
GreekWatch (Day 4 of 13): “time is running out”
Posted in Greece, IMF, Irish economy, Politics on May 28, 2011 | 13 Comments »
Again, it seems that the IMF and EU review mission teams are diligently and quietly working away on the ground in Athens whilst all hell is breaking loose everywhere else. First up, the European Commission seems to be getting exasperated at the lack of meaningful progress by politicians in Greece. “Time is running out” said [...]
GreekWatch (Day 3 of 13) : Greece leaving the euro “absolutely not”/”entirely ridiculous”
Posted in Greece, IMF, Irish economy, Politics on May 27, 2011 | 2 Comments »
The IMF and EU review mission teams in Athens are remaining tight-lipped as they assess Greek progress to date and the feasibility of new austerity and privatisation plans. They must be the only people in this drama that are remaining tight-lipped. First up, the ECB. Executive Board member, Jose Manuel Gonzalez-Paramo called yesterday for a [...]
NAMA to dispose of all UK assets by end of 2013
Posted in NAMA, Non-Irish property on May 27, 2011 | 12 Comments »
In what must be one of the most dramatic announcements by NAMA to date, its head of lending and corporate finance, Graham Emmett is reported to have told an audience in London on Tuesday this week, that NAMA would dispose of all of its assets in the UK by the end of 2013. Graham was [...]
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Recent Posts
- Northern Ireland’s residential property price collapse – the worst in the world?
- Are we recovering?
- NAMA’s report and accounts for Q4,2011
- 30-minute guide to the ESM and Fiscal Compact treaties
- Fiscal Compact referendum – final weekly review
- NAMA in negotiations to build major new office block in central Dublin
- NAMA tackled about its protocols for the disposal of assets amid concern at Cork sale
- Of the Week..
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Recent Comments
JP on Northern Ireland’s residential… Jake Watts on Northern Ireland’s residential… who_shot_the_tiger on Northern Ireland’s residential… who_shot_the_tiger on Northern Ireland’s residential… gerhard dengler on Are we recovering? Twitter Updates
- @OwenCallan Thanks! How many negatives make for a downgrade, I suppose. An Taoiseach says it *will* be just one more. 59 minutes ago
- Northern Ireland’s residential property price collapse – the worst in the world? wp.me/pNlCf-2Es 7 hours ago
- @brianmlucey @declanganley @GTCost The IRL experience is that some patients should be let die. 9 hours ago
- @joehas @declanganley @brianmlucey @GTCost I get the impression it's forcing itself back on the table after Bankia. 9 hours ago
- @declanganley @brianmlucey @GTCost You set up a NAMA to suck out the poison OR hope the patient fends for themselves OR let the patient die 9 hours ago
- @OwenCallan Hi Owen! Has any ratings agency said it *will* downgrade IRL if there is a no vote;All S&P said no wd be credit neg in s-term 11 hours ago
- PIIGS yields mixed;SPN/ITA up at 6.5/5.7% as Bankia gets €19bn bailout; what’s SPN for “cheapest bailout in history” wp.me/PNlCf-19r 15 hours ago
- @YJB57 You never know! Peter Mathews giving a candid assessment of the Compact before Thursday could just be this vote's black swan event. 16 hours ago
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