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#Debt Crisis

# debt-crisis - Wednesday 2 May, 2012

Unemployment remains at 14.3 per cent, as 4,000 off the Live Register

The number of people on the Live Register fell by 4,000 last month, though unemployment remained at 14.3 per cent.

Eurozone unemployment reaches highest level in currency's history

The seasonally adjusted unemployment rate in the eurozone was 10.9 per cent in March – up by 1pc in twelve months.

# debt-crisis - Wednesday 25 April, 2012

ICTU meets today to determine Fiscal Compact stance

Three major trade unions have called on its members to vote No in the referendum next month.

# debt-crisis - Monday 23 April, 2012

Ireland recorded a 13.1 per cent deficit last year

Without the whole banking debt, it could have been down to 9.4 per cent.

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.’

# debt-crisis - Friday 20 April, 2012

Finance ministers agree to pump €325bn more into IMF

The world’s 20 largest economies will put $430bn more into the IMF in order to boost its lending capacity.

Rabbitte: Ireland deserves ECB recognition for taking a hit on banks

The Communications Minister said that Labour’s poor showing the polls was to be expected given the economic situation and the historic problems for junior coalition partners.

# debt-crisis - Wednesday 18 April, 2012

Italian government puts back 'balanced budget' plan to 2015

Mario Monti’s government says the economy will shrink three times more than expected, and that they’ll need more time.

# debt-crisis - Friday 13 April, 2012

Two down, 23 to go: Portugal second country to ratify Fiscal Compact

Portugal’s parliament ratifies the treaty with a huge majority, following Greece in signing up to the new treaty.

# debt-crisis - Thursday 12 April, 2012

Lagarde cites Ireland as role model in back-to-work policies IMF

Lagarde cites Ireland as role model in back-to-work policies

The IMF managing director said other countries should follow Ireland’s example by targeting training and providing incentives.

# debt-crisis - Tuesday 10 April, 2012

Spain village votes on growing cannabis to pay off debt

The town of Rasquera, with a population of 960 people, will decide on whether to lease land to cannabis-growers in order to pay off debts.

# debt-crisis - Tuesday 27 March, 2012

Cowen compares banking crisis to 'multiple plane crashes occurring at once'

In a speech in Washington, the former taoiseach also attacks conventional political thinking in advance of the crisis.

# debt-crisis - Monday 19 March, 2012

Translated: The Fiscal Compact rewritten in layman's terms Exclusive

We’ve translated the treaty, sentence by sentence, to try and make the document easier to read for the general public.

# debt-crisis - Wednesday 14 March, 2012

Juncker hails "unique opportunity" as Greece gets new bailout funds

Eurozone members have agreed to release the first €39.4 billion of funds under Greece’s second bailout programme.

# debt-crisis - Tuesday 13 March, 2012

# debt-crisis - Friday 9 March, 2012

Success for Greece as huge majority of investors agree to bond swap

The biggest sovereign bond swap in history will unltimately see 95.7 per cent of investors agree to write down their debts.

# debt-crisis - Tuesday 6 March, 2012

Cabinet to discuss timing of 'one-off' fiscal compact referendum

The Cabinet will this morning discuss a draft timetable for putting the fiscal compact referendum to the public.

# debt-crisis - Monday 5 March, 2012

12 major investors agree to write off parts of Greek debt

An organisation representing the biggest holders of Greek debt say they have agreed to a deal that paves the way for Greece’s second EU-IMF bailout.

# debt-crisis - Sunday 4 March, 2012

Enda Kenny hails Irish 'resilience' through crisis

The Taoiseach acknowledged many people are concerned for the future, but said Ireland has “great potential”.

# debt-crisis - Friday 2 March, 2012

Deja vu: ECB gives banks new money - and banks save it in the ECB ECB

Deja vu: ECB gives banks new money - and banks save it in the ECB

Overnight deposits in the ECB surged to their highest ever, just a day after it issued €529 billion to boost credit markets.

# debt-crisis - Wednesday 29 February, 2012

ECB pumps €529bn of new cash into European banking system ECB

ECB pumps €529bn of new cash into European banking system

The second round of unusually lengthy lending sees the ECB lend €529bn to banks, hoping the cash will be passed onward.

# debt-crisis - Tuesday 28 February, 2012

S&P downgrades Greece into 'selective default' territory

The ratings agency demonstrates it can read, by officially acknowledging that Greece’s bond-swap is a ‘selective default’.

IMF signs off on latest €3.2 billion loan to Ireland

The IMF signs off on the fifth review of its bailout, and is releasing €3.2 billion to Ireland – bringing its total IMF debt to €16bn.

# debt-crisis - Monday 27 February, 2012

'An offer they can't refuse': German minister wants Greece to leave eurozone

The interior minister Hans-Peter Friedrich tells Der Spiegel that instead of forcing Greece out, it should get offers it “can’t refuse”.

# debt-crisis - Wednesday 22 February, 2012

Fitch: 'Highly likely' that Greece will default soon

The ratings agency has downgraded Greece just one day after EU leaders agreed on a €130 billion bailout deal for the country.

# debt-crisis - Tuesday 21 February, 2012

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.

ECB steers clear of bond-buying for first time since August

Last week marked the first time in six months that the European Central Bank didn’t intervene in the sovereign bond markets.

# debt-crisis - Thursday 16 February, 2012

Bailout for Greece likely to be decided by Monday

Eurozone finance ministers held a 3 1/2 hour conference call last night to discuss Greece.

# debt-crisis - Wednesday 15 February, 2012

Doubts remain over approval of Greece's second bailout

A meeting of eurozone finance ministers due today has been put back until Monday, due to concerns over “political assurances”.

# debt-crisis - Tuesday 14 February, 2012

Greece’s budget deficit for 2012 is already €1bn bigger than expected

Greece expected its income for January to be 8.9 per cent higher than last year. It actually fell… by 7 per cent.

Moody's downgrades six European countries - and warns of more to come

France and the UK were both warned that they could lose their coveted AAA credit rating.

# debt-crisis - Sunday 12 February, 2012

Major riots in Athens as Greek parliament approves austerity deal Greece This post contains images

Major riots in Athens as Greek parliament approves austerity deal

Fireballs light up the evening sky in the Greek capital as parliament approves new austerity measures to help secure a €130bn bailout.

Greek PM warns of ‘economic and social catastrophe’ if MPs vote No

Lucas Papademos goes on TV to warn that the cost of a Greek default is far greater than that of a second bailout.

# debt-crisis - Saturday 11 February, 2012

Greek government warns rebel MPs of "dangerous path" to default

MPs vote tomorrow on approving the government’s new austerity plans – but many have threatened to scupper it.

Gilmore confirms Irish push for ‘flexibility’ in fiscal compact deal

Eamon Gilmore says Ireland DID look for the new ‘debt brake’ to be ‘preferably’ constitutional, but so did other countries.

# debt-crisis - Thursday 9 February, 2012

Greece leaders reach deal on more austerity and cuts

The Greek Prime Minister said that there was “broad agreement” on all points of the new programme -with one exception.

# debt-crisis - Monday 6 February, 2012

Second bailout talks resume today as Greece tries to avoid bankruptcy

The leaders of the three coalition parties meet with the PM to agree on austerity measures so a €130bn bailout can be secured – and a default avoided.

# debt-crisis - Tuesday 31 January, 2012

Kenny 'acted like an eejit' with Sarkozy, insists angry Adams

The first Dáil exchanges since the EU treaty was finalised are angry ones, as Kenny and Adams exchange particularly harsh words.

Final text of Fiscal Compact deal may allow Ireland to avoid referendum

The final text of the treaty agreed by 25 EU leaders last night says the debt brake will only ‘preferably’ be constitutional.

Opposition parties disappointed in EU treaty

As the Cabinet meet today, both Fianna Fáil and Sinn Féin have spoken out against the outcome of yesterday’s informal EU meeting.

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