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#European Financial Stability Facility

# european-financial-stability-facility - Monday 24 June, 2013

From Business ETC Debt deals mean we’re borrowing €20bn less in next decade – Noonan Every Little Helps

Debt deals mean we’re borrowing €20bn less in next decade – Noonan

The finance minister gives his formal tip-of-the-hat to the news that the two European bailout funds are delaying repayments.

From Business ETC Eurozone bailout fund gives Ireland seven more years to repay loans Bailout Loans

Eurozone bailout fund gives Ireland seven more years to repay loans

Good news for Michael Noonan this morning…

# european-financial-stability-facility - Friday 21 June, 2013

From Business ETC Ireland gets another seven years to repay its European bailout loans Bailout Loans

Ireland gets another seven years to repay its European bailout loans

EU finance ministers have officially signed off on a deal which means the average European loan will be repaid in 19.5 years.

# european-financial-stability-facility - Tuesday 18 June, 2013

From Business ETC Ireland gets another €1.6 billion in bailout loans from the EFSF Bailout

Ireland gets another €1.6 billion in bailout loans from the EFSF

That’s on top of the IMF loans announced earlier today – and these ones will be on the books until 2042.

# european-financial-stability-facility - Tuesday 5 March, 2013

From Business ETC EU finance ministers confirm deal to delay Ireland’s bailout repayments Bailout

EU finance ministers confirm deal to delay Ireland’s bailout repayments

Ministers have asked the Troika to come up with a proposal on the best options for extending the maturities of Irish loans.

From Business ETC Deal could delay repayment of Ireland’s EU bailout loans Bailout

Deal could delay repayment of Ireland’s EU bailout loans

The detail of extended loan repayments on the EU portion of Ireland’s bailout is still to be worked out but could save the State significant amounts of money in the coming years.

# european-financial-stability-facility - Tuesday 22 January, 2013

From Business ETC Eurozone finance ministers agree to examine Ireland’s loan repayments Bailout

Eurozone finance ministers agree to examine Ireland’s loan repayments

The deal has been hailed by finance minister Michael Noonan as having the potential to save Ireland billions of euro.

# european-financial-stability-facility - Saturday 1 December, 2012

From Business ETC Eurozone’s new bailout fund loses AAA credit rating Downgrade

Eurozone’s new bailout fund loses AAA credit rating

The European Stability Mechanism has been downgraded by Moody’s, following a similar drop for France.

# european-financial-stability-facility - Wednesday 1 August, 2012

Government to ratify ESM today following Supreme Court ruling ESM

Government to ratify ESM today following Supreme Court ruling

The EU’s permanent bailout fund still has to clear the hurdle of the German Constitutional Court which is expected to issue a ruling in September.

# european-financial-stability-facility - Monday 23 July, 2012

From Business ETC IMF refuses to deny reports that it may cut Greek funding Pulling The Plug?

IMF refuses to deny reports that it may cut Greek funding

Der Spiegel says the IMF wants out of Greece as soon as the ESM kicks in in September – and the IMF won’t deny it.

# european-financial-stability-facility - Friday 20 July, 2012

From Business ETC No split between banks and sovereign – for now – as Spain secures bailout Spain

No split between banks and sovereign – for now – as Spain secures bailout

The assistance – of up to €100 billion – comes with terms and conditions, while banks and the sovereign haven’t been split just yet.

# european-financial-stability-facility - Wednesday 20 June, 2012

From Business ETC Explainer: Have Spain and Italy been ‘bailed out’? Eurozone

Explainer: Have Spain and Italy been ‘bailed out’?

Germany has reportedly relented and will allow the ESM to buy bonds directly, which could save Spain and Italy.

# european-financial-stability-facility - Saturday 12 May, 2012

Opinion: ‘Rejection could force Ireland to greater austerity’

On a ‘Yes’ vote: IBEC Director General Danny McCoy says that voting against the fiscal compact could bring dangerous economic instability and uncertainty.

# european-financial-stability-facility - Monday 23 April, 2012

From Business ETC Kenny wants ESM amended to allow direct loans to banks ESM Treaty

Kenny wants ESM amended to allow direct loans to banks

The Taoiseach tells the German edition of the Financial Times: ‘There’s a widespread belief that the ESM should lend to banks.’

# european-financial-stability-facility - Tuesday 21 February, 2012

From Business ETC Borrowing costs for eurozone bailout fund fall after Greek deal Bond Auction

Borrowing costs for eurozone bailout fund fall after Greek deal

The EFSF issues a new round of 6-month bills – with interest rates significantly lower than at the same time last month.

# european-financial-stability-facility - Tuesday 17 January, 2012

From Business ETC EU bailout fund overcomes downgrade with successful bond auction EFSF

EU bailout fund overcomes downgrade with successful bond auction

The EFSF sells six-month bills with an average interest rate of 0.2664 per cent – despite being downgraded yesterday.

# european-financial-stability-facility - Monday 16 January, 2012

From Business ETC Bailout costs likely to rise after S&P downgrades EU fund Downgrade

Bailout costs likely to rise after S&P downgrades EU fund

Standard & Poor’s downgrades the European Financial Stability Fund, meaning our future loans will probably cost us more.

# european-financial-stability-facility - Thursday 5 January, 2012

From Business ETC EU fund issues new bonds to pay for Irish bailout Bailout

EU fund issues new bonds to pay for Irish bailout

The European Financial Stability Fund says it issued €3bn in three-year bonds, at a rate over four times cheaper than we’d get.

# european-financial-stability-facility - Monday 19 December, 2011

From Business ETC Hold the phone: EU finance ministers to hold teleconference over debt crisis Eurozone

Hold the phone: EU finance ministers to hold teleconference over debt crisis

The talks are expected to focus on measures to boost the International Monetary Fund’s firepower.

# european-financial-stability-facility - Wednesday 30 November, 2011

From Business ETC Eurozone finance ministers look to IMF for help as bailout fund falls short Eurozone

Eurozone finance ministers look to IMF for help as bailout fund falls short

It’s now feared the European Financial Stability Fund does not have sufficient firepower to rescue distressed countries.

# european-financial-stability-facility - Tuesday 29 November, 2011

From Business ETC Eurozone finance ministers hold talks amid fears of euro breakup Eurozone

Eurozone finance ministers hold talks amid fears of euro breakup

US president Barack Obama has weighed in with a call for EU countries to find a solution to the spiralling debt crisis.

# european-financial-stability-facility - Monday 28 November, 2011

From Business ETC Eurozone ‘has ten days to save itself, or collapse’ – analyst Eurozone

Eurozone ‘has ten days to save itself, or collapse’ – analyst

Wolfgang Münchau, associate editor of the Financial Times, believes catastrophe is coming if a deal is not struck by December 9.

# european-financial-stability-facility - Thursday 17 November, 2011

From Business ETC Martin says there’s weeks to save the euro amid reports of French-German split Eurozone

Martin says there’s weeks to save the euro amid reports of French-German split

Micheál Martin has been critical of France and Germany’s role in the eurozone amid reports the region’s two largest economies are split on the role of the European Central Bank.

# european-financial-stability-facility - Thursday 27 October, 2011

EU leaders strike ‘comprehensive’ debt deal after hours of talks

Greek debt will be written down by 50 per cent, with the EU bailout fund boosted to around €1trillion.

# european-financial-stability-facility - Monday 24 October, 2011

From Business ETC Enda Kenny: New hope for deal to tackle EU crisis Eurozone

Enda Kenny: New hope for deal to tackle EU crisis

The Taoiseach has said EU leaders were “focused on fundamentals” for the first time as they met in Brussels.

# european-financial-stability-facility - Saturday 15 October, 2011

From Business ETC G20 finance ministers open door for larger IMF role in fighting crisis Eurozone

G20 finance ministers open door for larger IMF role in fighting crisis

Ministers from the world’s 20 major economies invite the IMF to come up with a plan of action for fighting the debt crisis.

# european-financial-stability-facility - Wednesday 12 October, 2011

From Business ETC Barroso’s banking plan could mean more countries opting for bailout Eurozone

Barroso’s banking plan could mean more countries opting for bailout

Jose Manuel Barroso wants banks to increase capital – saying governments can foot the bill by borrowing from the EFSF.

From Business ETC Government falls as Slovakia rejects Eurozone bailout expansion plans Slovakia

Government falls as Slovakia rejects Eurozone bailout expansion plans

However the bill is now set to go to another parliamentary vote later this week where it will likely pass.

# european-financial-stability-facility - Tuesday 11 October, 2011

From Business ETC Slovakia parliamentary vote crucial to Eurozone bailout fund Eurozone

Slovakia parliamentary vote crucial to Eurozone bailout fund

The hopes of expanding the Eurozone’s bailout mechanism lie in the hands of Slovakia’s parliamentarians who are expected to vote today.

# european-financial-stability-facility - Thursday 29 September, 2011

Major win for Merkel as German parliament passes bailout vote

Only 15 of Angela Merkel’s MPs vote against a bill expanding Germany’s bailout liabilities – meaning she retains her majority.

# european-financial-stability-facility - Monday 26 September, 2011

From Business ETC Merkel warns against Greek default – but says ‘firewall’ is needed Greece

Merkel warns against Greek default – but says ‘firewall’ is needed

A ‘firewall’ is needed in order to stop Euro members falling like dominoes, Angela Merkel says – though Greece is sustainable for now.

# european-financial-stability-facility - Wednesday 14 September, 2011

From Business ETC European Commission reduces margin on Irish bailout to zero Bailout

European Commission reduces margin on Irish bailout to zero

The EC says it’s lowering the interest on its part of Ireland’s bailout loans in line with that of the Eurozone’s portion.

# european-financial-stability-facility - Saturday 3 September, 2011

From Business ETC Kind words from IMF as new bailout loans are approved Bailout

Kind words from IMF as new bailout loans are approved

Ireland’s about to go €7.5bn further into the red – but the IMF insists that there’s cause for optimism as it approves new loans.

# european-financial-stability-facility - Thursday 4 August, 2011

From Business ETC Barroso warns: the Eurozone debt crisis is spreading Debt Crisis

Barroso warns: the Eurozone debt crisis is spreading

The President of the European Commission tells us what we already know, as he calls for “full backing” for struggling countries.

# european-financial-stability-facility - Wednesday 27 July, 2011

From Business ETC Bailed-out Ireland could stump up €11.1 billion… to pay for new bailout fund Bailout

Bailed-out Ireland could stump up €11.1 billion… to pay for new bailout fund

The new European Stability Mechanism will need will claw back a huge amount of the loans it’s already giving us.

# european-financial-stability-facility - Thursday 21 July, 2011

From Business ETC Irish bailout rate ‘cut to under 4 per cent’ by draft agreement – report Bailout

Irish bailout rate ‘cut to under 4 per cent’ by draft agreement – report

RTÉ says a draft agreement being considered in Brussels would slash our interest rate and extend our repayments.

# european-financial-stability-facility - Wednesday 20 July, 2011

From Business ETC Enda Kenny: Tomorrow’s EU summit probably won’t strike a big deal Eurozone

Enda Kenny: Tomorrow’s EU summit probably won’t strike a big deal

Enda Kenny says tomorrow’s EU summit probably won’t reach a deal – but France is promising a “strong message”.

# european-financial-stability-facility - Tuesday 21 June, 2011

Change to Europe’s bailout fund “very good news” for Ireland

Enda Kenny and Michael Noonan say a change to the way money is paid back will regain the confidence of potential investors in Ireland.

# european-financial-stability-facility - Monday 20 June, 2011

From Business ETC Here’s how a new deal on EU bailouts could help Ireland escape a second one Bailout 2?

Here’s how a new deal on EU bailouts could help Ireland escape a second one

A nutshell guide to how an amendment to the European Stability Mechanism could help Ireland get back on its feet.

# european-financial-stability-facility - Monday 16 May, 2011

From Business ETC European finance leaders sign off on Portugal’s €78bn bailout Bailout

European finance leaders sign off on Portugal’s €78bn bailout

Portugal will borrow over 7.5 years at an average interest rate of 5.7 per cent – slightly less than the 5.83 per cent we pay.

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