DUBLIN, July 16 (Reuters) – Former Irish Prime Minister
Bertie Ahern told a parliamentary inquiry on Thursday Ireland’s
economy was fundamentally sound when he resigned in 2008, six
months before a deep recession began and the country’s banking
system almost collapsed.
Ahern stood down after 11 years in charge in May 2008,
leaving his successor Brian Cowen to tackle the spectacular
bursting of a property bubble that culminated in a humiliating
international bailout two years later.
DUBLIN (Reuters) – Immunocore completed Europe’s largest ever financing round by a private life sciences company on Thursday, raising $320 million from investors including Eli Lilly & Co (LLY.N: Quote, Profile, Research), Malin (MLCM.I: Quote, Profile, Research) and Woodford Investment Management.
The Oxford-based biotech company said it will use the proceeds to accelerate its pipeline of new medicines it calls ImmTACs, next-generation cancer drugs that fight tumours in ways antibody drugs cannot.
DUBLIN, July 16 (Reuters) – Britain’s Immunocore completed
Europe’s largest ever financing round by a private life sciences
company on Thursday, raising $320 million from investors
including Eli Lilly & Co, Malin and Woodford
The Oxford-based biotech compnay said it will use the
proceeds to accelerate its pipeline of new medicines it calls
ImmTACs, next-generation cancer drugs that fight tumours in ways
antibody drugs cannot.
DUBLIN, July 15 (Reuters) – Three independent Irish members
of parliament, including a former junior minister, set up a new
centre-left party on Wednesday, preparing for elections early
next year that could usher in a multi-party coalition.
The Social Democrats are among a number of new parties to
emerge in a bid to challenge one of the continent’s most stable
political systems seven years after Ireland was plunged into a
debilitating financial crisis.
DUBLIN/BRUSSELS (Reuters) – IAG (ICAG.L: Quote, Profile, Research) is set to complete its takeover of Aer Lingus (AERL.I: Quote, Profile, Research) after Ryanair (RYA.I: Quote, Profile, Research) said it would accept the offer and a source familiar with the matter told Reuters the British Airways-owner would gain conditional EU approval.
IAG’s plan to buy Aer Lingus and build a new transatlantic hub at Dublin airport depended on agreement from Ryanair, which holds a 30 percent stake in Aer Lingus, and the Irish government, which agreed to sell its 25 percent stake in May.
DUBLIN/LONDON (Reuters) – Budget airline Ryanair said it would accept IAG’s offer for its stake in Aer Lingus, paving the way for the British Airways-owner’s 1.3 billion euro ($1.5 billion) takeover of the Irish carrier to go ahead.
European Union approval for the deal is now the last remaining hurdle to IAG’s plan to buy Aer Lingus and expand capacity on lucrative transatlantic routes by building a new hub at Dublin airport.
DUBLIN, July 8 (Reuters) – Former Prime Minister Brian Cowen
said some members of European Union institutions, including the
European Central Bank, tried to “bounce” Ireland into a bailout
in the lead up to its request for international aid.
Ireland signed up to a three-year, 85 billion-euro programme
in November 2010 after it had been locked out of sovereign debt
markets with its banking crisis sending shock waves through
Europe and government facing the worst deficit in the euro zone.
DUBLIN, July 1 (Reuters) – The European Union should be able
to contain the fallout if Greece were to leave the euro zone
following a weekend referendum on a bailout programme, the head
of private equity fund Blackstone said on Wednesday.
Greece has appealed to its euro zone partners and the
European Central Bank to keep it afloat after defaulting on its
debt to the International Monetary Fund and losing frozen
international bailout money.
DUBLIN (Reuters) – Events in Greece could check the growing support in Ireland for Sinn Fein and other left wing groups in elections due early next year, the leader of the Labour Party said on Tuesday.
Deputy Prime Minister Joan Burton, whose center-left Labour Party is still suffering in opinion polls after imposing tough budgets during the first half of its term in coalition government, told Reuters: “I suspect that the happenings in Greece might give some pause for reflection…
DUBLIN (Reuters) – Greece has scope to secure a deal to make its debt more sustainable by extending maturities and lowering interest rates but only in exchange for reforms, Ireland’s finance minister said on Tuesday.
Talks between Greece and its creditors on a cash-for-reform deal broke down on Sunday, the biggest setback in long-running negotiations aimed at preventing a default and possible euro exit.