Ireland
Ireland proposes haircuts for Anglo Irish bondholders
Irish finance minister Michael Noonan says Anglo Irish Bank senior bondholders should receive haircuts; pits the Irish government against the European Central Bank
Ireland clears way for greater central bank power
New Bill allows central bank to step in when banks are “failing or likely to fail”; will be able to shift assets to other institutions or replace management at a troubled bank
S&P places Italy on negative outlook
Standard & Poor's places Italy’s long-term credit rating on negative outlook; analysts say downgrade not expected in near term
Europe must share blame for sovereign debt crisis: ECB’s Stark
Stark says European Monetary Union failures contributed to situations in Greece, Ireland and Portugal; calls for end to emergency stimulus policies
Eurozone sovereign bailouts likely to stop at Portugal, say investors
The Eurozone crisis has already forced three members of the currency union to take EU/IMF bailouts but Spain, the next potential target of investors, is unlikely to follow
Elderfield details Ireland's new risk assessment model
Matthew Elderfield, head of financial regulation at the Central Bank of Ireland, reveals details of new ‘Prism’ risk assessment model
Ireland’s central bank failed to alert regulators to mounting crisis: banking report
Ireland’s Commission of Investigation into banking crisis says Central Bank of Ireland missed opportunities to alert regulators to impending risks in banking sector
Stress tests motivate Moody’s Ireland downgrade
Moody’s downgrades Ireland two notches to Baa3 after stress tests force Irish government to allocate additional funds to banks
Irish regulator lacked 'capacity and will' pre-crisis admits Elderfield
Ireland's chief regulator has provided more detail on the recent stress tests carried out by the central bank of Ireland and plans to increase the powers of the body
Ireland’s Elderfield: we’ll not haircut senior debt
Matthew Elderfield, Ireland’s head regulator, assures senior bondholders in four banks they will not face “action”
Ireland announces stress test results
Central Bank of Ireland reveals €24 billion gap in funding for the country’s banks
Periphery and inflation offer headaches for the Eurozone, says Credit Institute panel
Participants on a Credit Institute panel debate held in London argued that peripheral funding and inflation are the major challenges for the Eurozone
Irish minister makes fresh bondholder threat
ECB executive board member critical of Ireland’s plans to impose losses on senior bondholders in Irish lenders; new stress test results on Thursday to develop the governments’ plans
Ireland’s chief regulator gets tough on corporate governance
Chief regulator Matthew Elderfield says poor governance exacerbated by cosy nature of corporate life in Ireland
Ireland unveils stress test scenarios
Central Bank of Ireland outlines macroeconomic scenarios for stress test exercise on four banks; results set to be published at end of month
Ireland’s Honohan pledges to avoid fire sales
Central Bank of Ireland governor Patrick Honohan says country can no longer afford fire-sale losses on non-core bank assets
EU agrees to more generous terms for Greece
Heads of state agree to lower rate of interest and extend maturity on Greek loan; no word on Ireland
Markets wobble as Spanish downgrade, eurozone fears bite
Moody’s one notch Spanish downgrade exacerbates investor jitters a day before European Council meets to discuss EFSF, ESM, bailout renegotiations
Ex-Fed economist appointed to Ireland’s Central Bank Commission
Former Federal Reserve economist and special adviser to Ireland’s outgoing finance minister Alan Ahearne appointed to Central Bank of Ireland’s commission
Consumer behaviour influences financial distress: ECB paper
European Central Bank study shows individuals’ behavioural traits may contribute to level of financial distress experienced by consumers
Draft Irish law sketches resolution fund, living wills
Draft legislation from Irish government sets out rules on resolution fund that all banks must pay into, living wills; law includes strict penalties for failure
Bailout renegotiation looms following Irish election
Ireland’s new prime minister-elect expected to press for renegotiation of EU-IMF bailout deal; scheduled to meet European Commission head José Manuel Barroso on Friday
Spanish banks’ ECB reliance drops
Spanish banks’ borrowing from European Central Bank declines just over 20% compared to December
No new deal on bailout: Trichet to Dublin
European Central Bank president Jean-Claude Trichet says Irish politicians should not attempt to renegotiate terms of the EU-IMF bailout; opposition leaders critical of ECB’s role