THE Government will probably need to use all €35bn of capital earmarked for lenders as part of the aid package, Anglo Irish Bank chairman Alan Dukes has said. The Government said recently it would inject €10bn while a further €25bn would be "provided on a contingency basis."
http://www.independent.ie/business/irish/...ro35bn-dukes-2458495.html
THE new Irish Government "is bound to repudiate" the rescue package agreed with the EU and IMF, international financierGeorge Soros says. Writing in today's "Financial Times," Mr Soros says markets recognise that the deal will not hold, which is why the Irish rescue brought no relief on bond yields. He also says the high interest rates charged on rescue packages make it impossible for the weaker euro countries to improve their competitiveness vis-à-vis the stronger ones.
http://www.independent.ie/search/?start=10&q=bank+of+ireland
Wednesday December 15 2010
Mr Trichet said Ireland's austerity programme would contribute to restoring confidence and safeguarding financial stability in the euro area. "I am sure that the programme is suited to bring about a sustainable stabilisation of the Irish economy and soothe tensions in financial markets that are associated with the Irish fiscal problems and the reorganisation of its banking sector," Mr Trichet said.
http://www.independent.ie/business/european/spain-pays-more-for-loans-as-bond-sale-misses-target-2461073.html