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Too late, lads: €5bn of EU/IMF bailout funding arrives in Ireland next week
Bailout
First batch of bailout money to arrive next week
After successful €5bn European bond auction yesterday, the first installment of EU/IMF money comes to Ireland next Wednesday.
THE GOVERNMENT ARE expecting a big bonus next Wednesday: the first €5bn of Ireland’s bailout money is arriving.
We reported yesterday that the EU had completed the auction of €5bn in European bonds as part of the fundraising for the Irish bailout. The issue of the bonds attracted demand of nearly four times the offer, HSBC bank told AFP yesterday. Nineteen billion euro was bid for five billion euro worth of bonds.
Now the Finance Department have confirmed that it has informed the EU and IMF of the Irish exchequer figures released yesterday “as a matter of courtesy”, says The Irish Times. Ireland’s tax receipts were €703m ahead of forecasts for 2010, according to those figures, but spending did still overshoot its target by €149m.
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