THE Government will have to pump up to €24 billion more into the crisis-ridden banks after the ECB ruled out burning senior bondholders in AIB and Bank of Ireland.
THE Government has backed down on its pre-election posturing to strong-arm senior bondholders to take losses and help pay for the banking bailout.
The Irish Cricket Team have agreed, at the invitation of the Duke Of Devonshire, to play an exhibition match against Lismore CC during the visit to Ireland of Queen Elizabeth. David Inde, spokesman for the club, said they were delighted that Lord Burlington, a lifelong friend of the Duke of Edinburgh, had been successful.
THE controversial co-location plan to build private hospitals on public hospital grounds has been scrapped, leaving the taxpayer potentially exposed to a multimillion euro compensation bill.
YESTERDAY’S stress tests found that in a worst case scenario the country’s four banks could lose almost €9.5 billion on residential mortgages and €37.7bn in total over the next three years.
THE stress tests for Irish banking were based on a further collapse in property prices of nearly one-third, Michael Noonan warned the Dáil.
AN in-depth analysis of the suitability of key managers in Irish banks to remain in their jobs is to begin in September and is to be overseen by the Central Bank’s head of financial regulation, Matthew Elderfield.
UNEMPLOYMENT levels will not get back to pre-recession territory until 2020.
PEOPLE who want a mortgage will have to be properly stress tested and lenders will have to paint a true picture of what they are offering under draft proposals from the European Commission.
THE senior bondholders were left unburned, but Michael Noonan knows his reputation will soon go up in flames if it turns out he has failed the stress test.
THE fifth stress test exercise on the Irish banks — bringing the total bailout bill for the country’s financial sector to around €70 billion — “doesn’t score highly on fairness” to the taxpayer, but marks the best way forward, according to Central Bank Governor Patrick Honohan.
THE Government’s radical overhaul of the banks was criticised for failing to include any plans for strengthened European Central Bank support and burden sharing among senior bondholders.
‘Ireland’s banks are being bailed out to save Europe’s. Let there be no doubt about it.’
THE banks will continue to get funds from the European Central Bank and will have three years in which to sell their non-core assets — both key requests by the Government as part of the bank restructuring.
THE latest stress tests have revealed another gaping hole in the overall structure of the assets held on the banks’ balance sheets.
ANGLO IRISH BANK has reported a loss of €17.7 billion for 2010, the largest annual loss in Irish corporate history — and also more than was forecast in early February.
THE former chief executive of Anglo Irish Bank’s British arm walked away from the bank last year with €3.2m in goodbye money.
ANGLO IRISH BANK didn’t just make a mess of lending to developers, it made a mess of its own property investments too.
LENDING to households in Ireland continued to fall in February reflecting the impact of a weak economy and falling incomes.
The stress tests have revealed that the banking crisis is worse than envisaged under the EU/IMF bailout. And the EU isn’t helping us, writes Ray Kinsella
Things may have been different if the blanket bank guarantee was issued just one month earlier, writes Europe Correspondent Ann Cahill
EARLIER this week, during the debate on the Moriarty Report, Michael Lowry vowed to expose the “hypocrisy” of Fianna Fáil leader Micheál Martin.
Real issues could have been raised during the debate on the Moriarty Tribunal. But the parties left plenty to be desired, writes Michael Clifford
MORE than a quarter of Irish men and a fifth of Irish women are obese, the findings of a national survey have revealed.
A POST-MORTEM examination will be carried out this morning on the body of a woman found washed up on a beach in Co Clare early yesterday.
THE High Court has reserved judgment on whether to allow journalist Ian Bailey appeal to the Supreme Court in a bid to prevent his extradition to France in connection with the killing of French filmmaker Sophie Toscan du Plantier in Co Cork 14 years ago.
THE average price of second-hand property in Dublin fell 4% in the first quarter of the year, bringing the annual drop to 12.5%, according to a report from Sherry FitzGerald.
WITH Ireland’s youth unemployment rate now the second highest in western Europe, a report has recommended a number of key measures to get young people back to work.
A FRESH effort will be made this morning to refloat a gigantic cargo ship which ran aground in a storm off the Connemara coast yesterday morning.
SCIENTISTS have identified a new dinosaur from fossils dug up in China and nicknamed it T-rex’s cousin.
TRANSPORT Minister Leo Varadkar has accused Ryanair of “lashing on the charges” after adding a €2 levy to every flight to combat EU compensation rules.
UP to 40,000 teenagers are expected to take part in a nationwide campaign next week aimed at stamping out homophobic bullying at school and persuading the Government to address the problem with urgency.
ONE man who won’t be unduly concerned about the results of the stress tests on Irish banks is the country’s newest Lotto millionaire, Pat Broderick, who yesterday collected a cheque for more than €7 million.
DOG owners who don’t clean up after their pets soil town and city streets have been branded vandals after an elderly nun slipped on a canine mess, breaking her hip.
THE Irish Pharmacy Union has said the Government is “entrenching outdated patterns of primary care delivery” by cutting payments to pharmacists in order to make annual savings of €36 million.
CHILDREN with severe learning difficulties face delays getting vital teaching supports due to a staffing review ordered by the Department of Education.
THE transfer of some primary schools from the patronage of the Catholic hierarchy faces inevitable opposition but it is time for movement, Archbishop of Dublin Diarmuid Martin said last night.
LEGAL history was made this week when a criminal prosecution was dismissed on the grounds that a scooter being ridden by a drink driving suspect was a ‘mechanically assisted’ and not a ‘mechanically propelled’ vehicle.
A MURDER trial witness testified that the accused woman told him in graphic detail that she hit the victim with a mallet, that his head opened up and that a dog licked the blood from the kitchen floor.
A POSTMAN who stole cash from birthday cards will not be jailed but he will have to do a lot of community service work over the next three years.
A LAW student who claims a bank clerk screamed “you have been on Crimeline” and ran off without serving him has sued AIB for damages for defamation.
A 23-YEAR-OLD motorcyclist was acquitted by a jury of dangerous driving causing the deaths of two men in a crash between his and another motorcycle, on June 1, 2008.
A DAUGHTER of a deceased 58-year-old cancer victim told a court how Dr Paschal Carmody told her father that he would cure his cancer.
A 27-YEAR-OLD man was jailed for two years when he admitted committing a sexual assault against a teenage girl in what was deemed a drink-drugs orgy.
THE Irish Nurses Organisation say the situation at Cavan General Hospital is now at “crisis stage” following an outbreak of the winter vomiting bug and strike action by agency nurses employed at the hospital.
HEALTH MINISTER Dr James Reilly said he would change the membership of the HSE board within a month.
A DILAPIDATED cottage in Co Mayo — the home of his emigrant great grandfather in the 1800s — has been added at the last minute to the itinerary of Prince Albert of Monaco during his visit to Ireland next week.
PRESIDENT Mary McAleese will today open the country’s first dedicated prostate cancer institute.
FOUR men have been arrested and drugs with an estimated street value of €420,000 seized during a cross-border police sting.
THE longest-serving barman in the Dáil was praised for his wit, political knowledge and storytelling by TDs yesterday ahead of his retirement.
AN ANCIENT church inthe heart of Cork city has been transformed into one of the country’s most exciting multi-purpose arts and cultural hubs.
A TRADITIONAL burial custom is likely to be safeguarded after the Health and Safety Authority (HSA) said it was not preventing family members from digging loved one’s graves.
A CENTRE servicing 100 voluntary groups is seeking the assistance of a local authority to prevent its closure.
THE setting up of a seaplane service from a pontoon on the Shannon near Limerick city centre has come under fire from rowers.
A FARMER who came to prominence after a multi-million euro land deal has failed in a bid to stop a couple building a family home on a neighbouring site.
THE proposed closure of an intensive care unit (ICU) at Nenagh General Hospital has been put on hold.
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