First €5bn of EU-IMF bailout due this week

[BoyRacer]

First €5bn of EU-IMF bailout due next week - ARTHUR BEESLEY in Brussels and LAURA SLATTERY → irishtimes.com/newspaper/bre … king5.html

The first €5 billion of Ireland’s EU-IMF bailout will be delivered to the Government next Wednesday after a positive reception in the markets to the European Commission’s inaugural bond issue under the rescue plan.
The Department of Finance yesterday confirmed that Government spending continued to significantly exceed tax revenues in 2010. The exchequer deficit stood at €18.7 billion at the end of the year, its data shows.
Michael McGrath, an assistant secretary at the department, said it had “notified our European and IMF colleagues” of the exchequer data yesterday “as a matter of courtesy”.
The figures show that tax receipts in 2010 were €700 million ahead of expectations at €31.75 billion, but down 3.9 per cent on the previous year, while Government spending of €46.4 billion was down 1.5 per cent compared to 2009.

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[BoyRacer]

Soros Mistrusts EU Aid as Irish Default Risk Soars → bloomberg.com/news/2011-01-0 … redit.html

Anticipating Default

“The market seems to be pricing in the possibility that Ireland may have to restructure its debt,” said Michiel de Bruin, who oversees about $35 billion as head of European government debt at F&C Netherlands in Amsterdam. “It’s something that cannot be excluded.”

Ireland agreed on the aid package with the European Union and the International Monetary Fund after borrowing costs soared because of increasing concern the cost of rescuing lenders, including Anglo Irish Bank Corp., would overwhelm the state. That followed Greece’s rescue in May as sovereign debt concerns wiped 6.5 percent off the euro’s value against the dollar in 2010.

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[FAUGH45568]

Can someone confirm when we have to start to paying back this.

Want to double check my own dates. thanks…