Sources say EU, IMF and Ireland ready to sign off on bailout

NPRF made approx 3.0% pa return since inception.
It does not make sense to borrow at 5.8% to generate a 3.0% return.

How do you fund your own bailout?
or why to you get a bailout and keep your pension cash pile?

German euro notes start with the letter X, check yours now!

Fund your own bailout: An irish solution to an eu problem

Indeed, all bar about 6 bn in the NPRF has been borrowed. It is an enormous white elephant.

Does the 5.8% average include the NPRF int ?

6.7% on the external and 2.2% on NPRF = 5.8% average?

smaller banking system means less mortgage transactions in the short term

Cowen - “…represents the best deal available for Ireland.”

That would be 6.7% on the external and 0% on the NPRF, no? I expect the NPRF to be liquidated.

Can any of these say what the actual interest rate on each element is ?

The real press conference seems to have taken place in Brussels earlier with Rehn and Juncker.
Cowen is just spinning it for the domestic audience imo.

FTA have the numbers and the press release: … -unveiled/

It appears 12.5 bn from the NPRF and 5 bn from cash assets (already issued bonds). What about the other 13 bn or so in the warchest? (Funded 'til the middle of next year).

As I say above, I think it is blended 6.7% at current market prices for the 65 bn from IMF/EFSF/EFSM… let’s hope the market price doesn’t change…

Rehn kept mentioning an agreed program for structural reform…

is a potential 35bn for the banks enough. Are the imf staking their reputation and credibility on this?

I get the feeling that our EU partners really resent bailing us out and made a half-hearted attempt to save us. … t-rate-725

Any truth in this?

Now that would mean friends of finna fail (and FG/Lab) would lose jobs - not a chance.

I had a rather ominous feeling about Biffo’s mention of funding for “essential public services”

So if there were lots of dodgy goings on in the NPRF (re. Rabbett) they will now be buried safely in the Irish Banks Tier 1 capital where the accommodating auditors will not ask too many questions. A neat solution. … t-rate-725

blended rate is 7.25% according to ZH

RTE1 fuckers cut off when asked about BOI and AIB nationalisation. Sky News covering wikileaks.
Can’t watch RTE online. What was the response?

On second thoughts, excellent timing by the govt to release this at the same time as wikileaks.

You have to hand it to them.