as of 8 mins ago
"Ireland is in talks with European and International Monetary Fund officials about a bailout that would shore up the state’s finances as well as enable it to inject capital into the country’s banks, said a European official with direct knowledge of the talks. "
More lolly for de binks
Dick Roche denies admitting that banking bailout likely tomorrow…
And on it goes…
*EU’S REHN SAYS IMF, EU, ECB WORKING ON FINDING IRISH BANK FIX"
Given the talk of extra capital being needed to reduce reliance on the ecb, the bank share prices seem to be holding up remarkably well. If further dilution is on the cards, then you’d expect this would have a negative effect. I wouldn’t have thought that this has already been priced in.
Even if the additional capital took the form of coco bonds, where existing shareholders wouldn’t face an immediate dilution, these would carry a high coupon.
Will extra capital enable banks to continue to access ecb liquidity or will they be forced back to the market? If they’re forced back into the real world, their net interest income will be under severe pressure.
From the UK’s The Guardian
So, seems the Irish public aren’t worth telling, are they Dick, we’re just the ones who’s future you and your cohorts destroyed. And still peddling that a bank bail out isn’t a State bail out. 1 coin, two sides.
RTRS-IRISH GOVERNMENT TO ISSUE STATEMENT ON THE ECONOMY AROUND
1700 GMT-PARLIAMENT SPOKESMAN
I guess the Europeans can do the honourable thing and take us at our word.
It’s very simple. Just like we “innocently” took the banks at their word in 2008.
We don’t need a bailout, says the politicians - so that’s grand.
Tick… tock… tick… tock…
Am waiting now on the denial!
WHere is that from?
looks like a reuters terminal
Should we be scared, I mean, More scared?
Think I`m gonna need a for this.
no, it’s not like we haven’t known the inevitable for a long time round these here parts
it’s the head in the cloud merchants who are going to get an awful shock
I don’t know whether to fear the bailout or Cowen wanting us to go it alone - what was the name of that cult leader?
Take me to my leader - please!
Closed Window I think.
This has to be "the IMF is coming " speach? right?
credit line is available if needed. dont expect to have to call on it,but prudent to have it available if necessary.
live casts here… oireachtas.ie/viewdoc.asp?fn … b-Live.htm