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#European Stability Mechanism

# european-stability-mechanism - Saturday 26 July, 2014

Angela Merkel's 'Dr No' makes Ireland's search for a bank debt deal much harder

Analysis: Dr Joachim Pfeiffer’s visit to Dublin this week was not a pleasant one for Enda Kenny.

# european-stability-mechanism - Friday 17 January, 2014

Michael Noonan to discuss Troika exit with head of eurozone bailout fund

Ireland’s push for a bank debt deal may also come up, but is not on the formal agenda for the meeting today.

# european-stability-mechanism - Friday 27 September, 2013

ESM chief: Recouping of AIB, BoI costs "either difficult or impossible"

The Government had been hoping to unload the debt from the two bailed-out banks.

# european-stability-mechanism - Friday 21 June, 2013

Euro finance ministers agree direct help for banks

The 17 eurozone ministers are joined today by their 10 non-euro colleagues to discuss these issues in a Bank Recovery and Resolution Directive.

# european-stability-mechanism - Thursday 20 June, 2013

Noonan: Ireland will escape bailout, even if we can't recover bank costs

The finance minister says the world recognises that Ireland’s debts are sustainable, but he won’t give up on help.

EU faces talks on bank sector reform and who should pay for future bailouts

Finance ministers are also expected to formally approve a 7-year extension on Ireland’s and Portugal’s bailout loans.

# european-stability-mechanism - Monday 25 March, 2013

Update: Eurozone head insists Cyprus deal not template for future bailouts

Jeroen Dijsselbloem had earlier said the Cyprus template – where depositors and bondholders are hit before governments – is the new model for how troubled banks will be handled. He has since clarified the remarks.

# european-stability-mechanism - Monday 4 March, 2013

Key meeting in Brussels to discuss whether AIB, BoI costs can be recouped

Eurozone finance ministers will today discuss the key question of whether the Euro’s bailout fund will chip in to Ireland’s costs.

# european-stability-mechanism - Sunday 3 February, 2013

Everything you need to know about the promissory notes, but were afraid to ask

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…

# european-stability-mechanism - Saturday 26 January, 2013

Céard? 17 words from modern Ireland, in Irish Gaeilge This post contains images

Céard? 17 words from modern Ireland, in Irish

Have you ever sent a ‘tvuít’ about the ‘tarrtháil’?

# european-stability-mechanism - Tuesday 8 January, 2013

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.

# european-stability-mechanism - Friday 14 December, 2012

Deal on Irish bank debt 'can be reached before 2014' - Kenny

The Taoiseach says discussions on the help Ireland can receive from the ESM can continue before a new banking supervisor is set up.

EU leaders repeat aim of splitting bank and sovereign debts

Ahead of Day 2 of a two-day summit, EU leaders say a deal on a new banking regulator is “a major qualitative step”.

# european-stability-mechanism - Saturday 1 December, 2012

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-stability-mechanism - Wednesday 28 November, 2012

Pringle could face substantial legal costs after European court loss

The independent TD said that if the court decides he’s liable for a six figure sum he does not have the cash in hand to pay.

# european-stability-mechanism - Tuesday 27 November, 2012

The 5 at 5: Tuesday

5 minutes, 5 stories, 5 o’clock…

European court rules against Thomas Pringle, says ESM is lawful ESM

European court rules against Thomas Pringle, says ESM is lawful

The European Court of Justice has ruled that the eurozone’s permanent bailout fund is lawful.

# european-stability-mechanism - Tuesday 23 October, 2012

European Court of Justice to discuss legality of new permanent bailout fund ESM

European Court of Justice to discuss legality of new permanent bailout fund

The ECJ will today discuss whether the European Stability Mechanism (ESM) is legal under existing EU law.

# european-stability-mechanism - Saturday 20 October, 2012

Govt insists agreement to address bank debt stands, FF says it's in denial

The government has continued to insist a deal on Ireland’s debt still stands despite comments from the German chancellor yesterday.

# european-stability-mechanism - Friday 19 October, 2012

Here's the exact transcript of Angela Merkel's comments in Brussels

“It will not be a retroactive direct capitalisation. If recapitalisation is possible, it will come for the future.”

Merkel rules out backdated ESM help for bailing out Europe’s banks

The German chancellor tells a news conference there “will not be any retroactive direct recapitalisation”. That’s us told.

# european-stability-mechanism - Wednesday 10 October, 2012

Noonan rejects Tobin tax over fear of jobs losses Tobin Tax This post contains videos

Noonan rejects Tobin tax over fear of jobs losses

The Finance Minister said Ireland would not adopt the tax unless Britain also did – over fears Irish jobs could be lost to London.

# european-stability-mechanism - Thursday 27 September, 2012

Spain to announce Budget - with €39bn of cuts on the table

Prime minister Mariano Rajoy will hope that the hard-hitting Budget will soften the terms of any prospective bailout.

# european-stability-mechanism - Tuesday 18 September, 2012

Ireland may issue 40-year bond to replace promissory notes - report

Bloomberg reports that Ireland could issue the former Anglo bonds worth €40 billion, allowing it to scrap the promissory note system.

# european-stability-mechanism - Wednesday 12 September, 2012

Germany's top court approves permanent Eurozone bailout fund

The ruling may mean the Dáil will need another vote on approving it – but also give it a vote on increasing its size in future.

German ESM ruling: Foreign minister confident of treaty approval

Guido Westerwelle is pretty confident that the Constitutional Court will give its blessing to the permanent Eurozone bailout fund.

# european-stability-mechanism - Monday 20 August, 2012

Greek exit from eurozone would be 'manageable' says top ECB official

The comments from Joerg Asmussen come at the beginning of another crucial week for the single currency and troubled Greece.

# european-stability-mechanism - 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-stability-mechanism - Tuesday 31 July, 2012

Ireland to formally ratify ESM Treaty after Supreme Court clearance ESM

Ireland to formally ratify ESM Treaty after Supreme Court clearance

Instruments of ratification – the final leg in the approval process – will be formally lodged in Brussels today.

# european-stability-mechanism - Friday 27 July, 2012

Explainer: Why is Spain under so much financial pressure?

The cost of borrowing for Spain keeps getting higher – fuelling rumours of needing a full-on bailout.

Spain ‘discussed €300bn bailout with Germany’ – Reuters report

Reuters says a Spanish minister broached the idea on Tuesday. If they’re right, Ireland could be hit with a bill for €4.77 billion.

# european-stability-mechanism - Thursday 26 July, 2012

ECJ to rule on whether permanent Euro bailout fund is legal

The Supreme Court has asked the European Court of Justice for clarity after a legal challenge from TD Thomas Pringle.

# european-stability-mechanism - Wednesday 25 July, 2012

Greens tell Gilmore: 'You'll need to convince German allies on bank deal'

The Green Party points out that Labour’s sister party in Germany is opposed to letting banks borrow straight from the ESM.

# european-stability-mechanism - Monday 23 July, 2012

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-stability-mechanism - Friday 20 July, 2012

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-stability-mechanism - Friday 22 June, 2012

Brussels made 17 errors translating the ESM Treaty into Irish

Dáil approval was needed this week to correct 17 grammatical mistakes, and typos, in the Irish version of the Treaty.

# european-stability-mechanism - Wednesday 20 June, 2012

Dáil approves Ireland's ratification of new Eurozone bailout fund

TDs vote by 114 to 22 to have Ireland participate, a move which will require €1.27bn in cash payments before 2014.

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-stability-mechanism - Tuesday 19 June, 2012

German court says MPs need greater role in EU treaty talks

The ruling from the Constitutional Court means opposition parties will have a greater say in EU treaties in future.

# european-stability-mechanism - Saturday 2 June, 2012

Government will ask TDs to ratify ESM Treaty this week

Bolstered by the Yes vote in the Fiscal Compact, TDs will vote this week on ratifying Ireland’s participation in the ESM.

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