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Saturday 10 June 2023 Dublin: 17°C

# European Financial Stability Mechanism

All time
# 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.
# Bailout loans
Eurozone bailout fund gives Ireland seven more years to repay loans
Good news for Michael Noonan this morning…
# 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.
# 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.
# Bailout
EU issues €3 billion bond to fund Irish and Portuguese bailouts
€1 billion of the funds – which were sold at an interest rate of 2.621 per cent – will be sent to Ireland.
# 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.
# 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.
# 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.
# 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.
# 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.
# Portugal
Portuguese finance minister admits: 'We're going to need a bailout'
A third Eurozone country admits the need for foreign help after a new bond auction sends interest rates spiralling.
# Bailout
Ireland's already taken 27 per cent of its bailout cash
New figures from the Financial Regulator show that Ireland’s drawn down €18.4bn of the €67.5bn set aside by the EU-IMF.
# Bailout
Government may accept borrowing limits in return for bailout rate cut
Ahead of crucial European summits, ministers say corporation tax is off the agenda – but that other concessions could be made.
# Bailout
FG-Lab not likely to force bond haircuts, says Morgan Stanley
Morgan Stanley sends a note to clients advising them about the financial stakes of Ireland’s general election outcome.
# Bailout
Europe auctions €5bn in Irish 'bailout bonds'
A second batch of European bonds is being auctioned off today, with an average interest rate half of what we’ll pay.
# Bailout
Ireland borrows first tranche of bailout funds
€5bn of the potential €67.5bn in foreign aid is drawn down, as Brian Lenihan insists the interest rate won’t be changed.
# Bailout
Japan to invest billions in Irish bailout bonds
Japan will buy up 20% of the bonds being issued by the European Financial Stability Mechanism, issued to pay for our help,
# Bailout
EU offloads €5bn in bonds to pay for Irish bailout
The European Financial Stability Mechanism is inundated with offers to buy bonds, at rates only a third of what Ireland will pay.