A nationalised Irish bank that mainly deals with business and commercial banking. The bank lent heavily to property developers meaning that it was badly affected in the downturn of the property market in 2008, this resulted in the Irish government buying 75% of the bank for €1.5 billion in December 2008 to save the bank. On the 30th of September 2010 the Government announced that the estimated total cost of bailing out the bank would be in the region of €30 billion.
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?
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.
David Hall says his case concerns issues wider than that of the €3.06 billion payment due in March that now appears unlikely following the liquidation of IBRC overnight.
David Hall’s legal challenge to the €3.06 billion Anglo promissory note was dismissed by the High Court last week but he intends to appeal to the Supreme Court this morning despite the overnight developments.
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.
The Fianna Fáil finance spokesperson has called on Michael Noonan to hold face-to-face negotiations with the European Central Bank president after he wrote to him last month.
You have been and will be hearing a lot about promissory notes in the coming weeks but what’s it all about? We’ve taken your questions, come up with some of our own and asked the experts…
Do our politicians have it in them to say no more, asks writer and journalist, Nick Webb, who gives his ideas on what should be top of the politician’s to-do list.
The Dublin businessman David Hall had taken a case against the State arguing that the issuing of the €31 billion promissory notes to the former Anglo Irish Bank is illegal as there was no Dáil vote.
It’s back on the agenda as the Irish government seeks a deal to avoid paying back €3.06 billion due in March, but what do you want to know about those pesky promissory notes?
Leo Varadkar and Pat Rabbitte have both insisted that the discussions on reducing the burden of Ireland’s bank debt will continue despite a report that the ECB had rejected a key Irish government proposal.
Tánaiste Eamon Gilmore will address world leaders – including Angela Merkel – in Chile today as hopes for a deal on Ireland’s bank debt took a blow last night and the opposition criticised the government’s lack of openness.
In a wide-ranging interview with RTÉ, the Taoiseach also said that he was “not in the business of providing abortion on demand” and said the Anglo promissory note would be restructured.
Compared to last year this was not Ireland’s best year in the eyes of the international media which focussed on the very different circumstances of two stars of the Celtic Tiger and Ireland’s strict abortion laws…
The only one of Ireland’s main banks not under State control makes the final payment to bondholders today bringing to over €20 billion the amount paid out by it and other banks this year.
Most of the complaints were about the sale of second-hand cars but people also complained about banks, retailers, service providers and other companies.
We’re wondering how much you lot kick up a fuss if you’re unhappy with a service or company.
Have you ever officially complained either to a company or to the NCA?
Clouds and sun with a shower in places
Max: 19 °C
Min: 11 °C
Intervals of clouds and sunshine
Max: 20 °C
Min: 12 °C
