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Saturday 3 June 2023 Dublin: 18°C

# Debt Crisis

All time
# factcheck
FactCheck: Is Fine Gael right to claim the credit for a fall in mortgages in arrears?
Fine Gael has been on Twitter and Facebook, promoting a set of claims about its role in the fall of mortgages in arrears. Do they check out?
# early hours
Greece latest: Tough new reforms passed in marathon late-night session
Relief for Alexis Tsipras – but he’s had to endure another major rebellion from his own party.
# Debt
Thousands asked for help from insolvency service in its first months
In the first three months of the ISI’s existence, it was inundated with calls and emails.
Column: A breakdown of the Irish economic collapse
Dr Donal Donovan considers who and what was responsible for the demise of the Celtic Tiger – and whether Ireland’s preferential corporate tax regime can be sustained in the face of pressures from other countries.
# Debt Crisis
PTSB is "not aware" of letters advising people in minimal arrears to sell their homes
Sinn Féin’s Pearse Dohery says that he has met with a family who were advised to clear arrears of €300 by selling their home, something the PTSB CEO says he is “not aware” of.
# Debt Crisis
PTSB says it would “stand over” advising customer to leave college in order to pay mortgage
Stephen Donnelly says that the bank’s response was “deeply disappointing” and says that the crisis is not one of arrears, it is one of debt.
Column: People don’t trust Europe – but that can be changed
The EU can restore trust by pursuing evidence-based policies that will put people first – namely by setting targets for the real economy, humanitarian aid, and social justice, writes Tom McDonnell.
Column: Game, Set and Match to the Banks
The extent to which banks are running Ireland and Europe is clearly shown by the recently published Insolvency Guidelines and Rules, writes Dave Hughes.
# Eurozone
France enters recession in first quarter
French economic growth has been sluggish lately as a result of record unemployment and falling household demand – the key driver of the economy.
# Unemployment
Spain's unemployment rate shoots to record 27.16%
More than six million people in Spain are now without work.
Boston bombing most closely followed news story since Wall Street collapse
Study of American media finds it fifth in the top stories for public since 9/11.
Nick Leeson: I’ve observed the need for debt solution – now I’m acting on it
Former trader Nick Leeson explains why he has begun to work as a mediator between indebted people and the banks…
# Eurogroup
Updated: EU finance ministers agree to delay repayment of Irish bailout loans
All 27 EU finance ministers have now given a green light to extending the maturity of Ireland’s bailout loans by seven years.
# Bailout
EU and Eurozone finance ministers begin two-day summit in Dublin
Ministers will discuss extending the repayment dates of Ireland’s loans, and the aftermath of the Cyprus bailout catastrophe.
# Bailout
Troika recommends 'giving Ireland seven more years to repay loans'
Proposals seen by Reuters, to be put to ministers in Dublin this weekend, would see extra time given for Ireland and Portugal to repay.
Aaron McKenna: While the Eurozone is floundering, the US is seeing growth - but why?
The EU needs to either get on with integration, proper banking and political union or separate into amicable trading partners and neighbours, writes Aaron McKenna.
# Cyprus
Cyprus president: Crisis is 'contained' and we won't leave eurozone
Nicos Anastasiades has also thanked the Cypriot public for their “maturity and collectedness” as the banks reopened.
# Mortgages
FF publishes bill to remove bank veto from insolvency regime
Fianna Fáil’s legislation would also create an independent Mortgage Resolution Office with the power to make binding orders.
# Explainer
Explainer: Your 25-point crash course on what’s happening in Cyprus
Bailouts! Deposit levies! Leaving the euro? It’s all been happening in the last ten days.
# Cyprus
Eurozone finance ministers to meet in Brussels on Cyprus crisis
Ministers will hold a last-ditch meeting to decide whether Cyprus will get a bailout – or be forced to leave the euro.
# Cyprus
Cyprus president prepares for Brussels as parties debate 25pc deposit tax
The Troika are in Cyprus for intensive talks, while Nicos Anastasiades could yet lead a delegation to Brussels this afternoon.
# Debt Crisis
Cyprus to exempt small savers from deposit tax ahead of crucial vote
Accounts with balances under €20,000 will be exempted from a controversial levy if it is approved by MPs today.
# Debt Crisis
Ireland not impacted by Cyprus' bailout deal - Kenny
Banks in Cyprus remain closed as discussions continue on the terms of the proposed bailout deal.
# Controversial
Cyprus postpones crucial vote on unpopular bailout until Tuesday
The president is trying to get parliamentarians to back the bailout deal that slaps a hugely unpopular levy on bank savings.
# Michael Noonan
Noonan: Europe now owes Ireland after 'taking one for the team'
“As Ronald Reagan used to say, ‘We took one for the team.’ And I think the team owes us now.”
Column: Legal uncertainty of promissory notes is a powerful bargaining tool
The looming payment deadline for the next €3.06 billion promissory note instalment is at the centre of discussions – but the legality of this debt is not being properly considered, writes Andy Storey.
# Debt Crisis
Taoiseach in Brussels for European budget talks
He is joining the other three Presidents of the EU – Herman Van Rompuy, José Manuel Barroso and Martin Schulz.
# Eurogroup
Noonan arrives in Brussels for key talks on aid for banks
Michael Noonan will chair tomorrow’s meeting of EU finance ministers; today’s Eurogroup meeting will elect a new head.
Column: Irish politics won't change until people demand accountability from leaders
A system of direct democracy would give people a more transparent form of government, writes Raymond Whitehead.
# Next stop Munich
Kenny to address meeting of Merkel's Bavarian sister party
The Taoiseach is in Munich to address a meeting of the Christian Social Union, the regional sister party of the CDU.
# Germany
Merkel kicks off campaign, highlights economic strength
The German Chancellor’s party faces a tough battle in the upcoming Lower Saxony state vote.
# Markets
European stocks rise after festive break
Europe’s main stock markets rise as traders focus on whether the United States will avert the 2013 “fiscal cliff”.
# Italy
Berlusconi tells Italy: 'You need me, and I always help people in need'
The flamboyant former prime minister is on a media blitz as he prepares his attempt to return to power for a fourth time, warning of civil war if Italy continues on its current course.
# Italy
Monti to step down as Berlusconi announces fresh run
Italian Prime Minister Mario Monti has said he is stepping down just hours after Silvio Berlusconi announced he would run again for head of government.
# 1000 words
Silly diagram does a great job explaining what's wrong with the Eurozone
The Eurozone house of cards has a solid roof – but the foundations are very rocky.
# France
Amazon announces investment in France, sees 2,500 jobs
The internet giant is planning to open a fourth despatch centre in the country – despite an ongoing tax dispute with the French government.
# Protests
Clashes erupt in Europe anti-austerity protests
Millions of workers across Europe rallied together today in strikes and rallies to protest against any further austerity measures.
# Debt Crisis
Greek protests erupt into violence ahead of austerity vote
More than 80,000 people took part in the anti-austerity protest in Athens ahead of a crucial parliamentary vote on new spending cuts.