The International Monetary Fund on Friday urged Europe to help Ireland refinance its crippling bank bailout and consider taking equity in state-owned banks to help Dublin return to bond markets and avoid a second bailout next year.
This is an unedited version of my Sunday Times column from January 19, 2014.With Dublin property prices and rental rates on the rise optimism about bricks and mortar is gradually re-infecting our living rooms and feeding through to the government and banks' expectations concerning the mortgages arrears.
The International Monetary Fund disbursed Ireland's last aid tranche on Friday, as the country became the first euro zone member to successfully exit its international bailout.
Ireland on Friday received $890 million from the IMF, one of a trio of lenders that oversaw Dublin's 85 billion euro [$117 billion] bailout, needed after its biggest banks collapsed in 2010.
Ireland has cut spending and raised taxes to rebalance the economy since seeking emergency help, meeting every...
NICOSIA (Reuters) - The International Monetary Fund and the European Commission backed Ireland's calls on Friday to lighten the cost of its bank bailout, a move they hope will bolster the island's borrowing prospects and help wean it off international support. Debt-laden Ireland wants the terms tied to up to 31 billion euros of IOUs pumped into two failed banks eased, and for the euro zone's rescue fund, the European Stability Mechanism, to take over Dublin's stakes in other lenders. ...
Cliff Wachtel submits: Dear EU/IMF Leaders: There are rumors cited here that Ireland is close to an IMF bailout agreement. I hope they’re true, and that you did indeed learn from mistakes last year. Let’s just cut to the chase.
Cliff Wachtel submits: Just as September and October have become known as potential crash seasons for stocks, could the year-end be taking on similar bad vibes for the EURUSD? The overall EURUSD situation is eerily familiar to that of a year ago.