CORK, Ireland, April 11 (Reuters) – Euro zone finance
ministers will probably agree on Friday to give Ireland and
Portugal seven more years to repay loans from the European
Union, a senior official said on Thursday, to help both
countries return to financial markets.
Dublin and Lisbon lost access to affordable financing in
2010 and 2011 respectively and took emergency loans from Europe,
and extensions to these should make them less of a burden as the
countries seek to put their bailouts behind them.
DUBLIN (Reuters) – Savings from a debt deal linked to a bank rescue should give Ireland breathing space to comfortably beat a 2015 European Union deficit deadline, the country’s independent fiscal watchdog said on Wednesday.
But the government must not bow to political pressure to use this leeway to roll back its austerity drive or it will risk the national debt spiralling out of control, the Fiscal Advisory Council said in a report.
DUBLIN, April 9 (Reuters) – Ireland’s financial regulator
Matthew Elderfield said on Tuesday he would quit after three
years in which he overhauled a dysfunctional system of bank
oversight and pressed lenders to deal more quickly with bad
Elderfield was hired in 2010 to overhaul a watchdog that had
failed to rein in years of reckless lending that pushed the
Irish economy and banking sector to the brink.
DUBLIN, March 28 (Reuters) – Credit agency Moody’s dashed
Irish hopes of an investment grade rating in the wake of its
landmark 10-year bond issue, saying Cyprus’ “unprecedented”
bailout increased the risks associated with holding Irish debt.
Moody’s, the only agency that ranks Ireland’s debt as
‘junk’, said on Thursday that, despite the country’s steady
progress in regaining market access, it was maintaining its Ba1
rating with a negative outlook.
DUBLIN (Reuters) – France and Britain failed to persuade the European Union to back their call to lift an arms embargo on Syrian rebels on Friday despite warning that President Bashar al-Assad could resort to using chemical weapons.
Paris and London want to exempt Assad’s opponents from an EU arms embargo, a step they believe would raise pressure on Assad to negotiate after two years of a civil war that has claimed 70,000 lives.
DUBLIN (Reuters) – France and Britain stepped up their drive on Friday for the European Union to lift its arms embargo to help Syrian rebels, but ran into strong opposition from other member countries who said sending more weapons could worsen the crisis.
British Foreign Secretary William Hague said as he arrived for an EU foreign ministers’ meeting in Dublin that there was a “very strong case” for lifting or seriously amending the ban on sending weapons to the opposition when EU sanctions on Syria come up for renewal on June 1.
DUBLIN (Reuters) – Ireland was one of the best-performing economies in the euro zone last year, continuing a gradual recovery from its financial crisis, though it tailed off in the second half as exports stalled, official data showed.
The country, which last week took its biggest step yet towards exiting an EU/IMF bailout later this year by selling 5 billion euros ($6.5 billion) of 10-year debt, is one of few euro zone economies to have managed to eke out mild growth.
DUBLIN (Reuters) – Ryanair (RYA.I: Quote, Profile, Research, Stock Buzz) announced a $15.6 billion order for 175 passenger jets from Boeing (BA.N: Quote, Profile, Research, Stock Buzz) on Tuesday in a deal that will allow the Irish airline to consolidate its position as Europe’s dominant low-cost carrier.
The order for the 738NGs keeps Ryanair as one of the few remaining all-Boeing airlines, after Lion Air of Indonesia switched to rival planemaker Airbus (EAD.PA: Quote, Profile, Research, Stock Buzz) on Monday in a $24 billion mega-order.
DUBLIN, March 13 (Reuters) – Ireland took its biggest step
yet towards exiting its European bailout later this year by
selling 5 billion euros ($6.5 billion) of new benchmark 10-year
bonds on Wednesday to meet nearly all its funding needs through
Rescued two-and-a-half years ago after being overwhelmed by
fiscal and banking crises, Ireland has hit every major target
since and has been held up by euro zone leaders as the success
story their austere plans desperately need.
DUBLIN (Reuters) – Irish online betting exchange Intrade, which let customers stake cash on everything from the Papal conclave to the date of the next major terror attack, said it had ceased trading after the discovery of possible financial irregularities.
Intrade, whose users bought or sold shares representing the likelihood of an event occurring, said it had closed and credited all open bets as of the end of business on Sunday to customer accounts.