As Portugal enters the final stretch of its three-year rescue program, the country now finds itself at a fork in the road to recovery with one route charted in Dublin and the other in Brussels.
Liquidators of the former Anglo Irish Bank Corp. said they agreed to sell most of a 21.7 billion-euro ($30 billion) loan book to buyers including Lone Star Funds LP and Goldman Sachs Group Inc.
As a cold day last February turned to early evening twilight, Alan Dukes strode through the lobby of Dublin’s Merrion Hotel when a familiar figure lurking in the shadows stopped him.
“Hello, little pixie heads,” a parody of Angela Merkel greets the Irish.
Ireland’s Finance Minister Michael Noonan said the government may seek to sell a stake in Allied Irish Banks Plc before the nation’s next scheduled election.
Irish Finance Minister Michael Noonan ruled out reintroducing bonuses for top bankers until performance improves.
Wilbur Ross, the U.S. billionaire investor in struggling industries, sold part of his stake in Bank of Ireland Plc, more than tripling his money with his bet on the lender. The bank’s shares tumbled.
Allied Irish Banks Plc Chief Executive Officer David Duffy said the lender may start repaying its 21 billion euro ($28.9 billion) government bailout after European Central Bank stress tests this year.
Ireland’s Finance Minister Michael Noonan said he hopes Moody’s Investors Service will raise the nation’s credit rating from non-investment grade as the country exits its bailout program and plans debt sales.
Irish Finance Minister Michael Noonan said that a decision by Moody’s Investors Service on whether to upgrade the nation’s junk credit ranking is important, though not vital.
"The liquidation ensures that no further calls will be made on the taxpayer over those already budgeted."
- Michael Noonan on Apr 01, 2014
Ireland’s Noonan Says `No Bonus' for Top AIB Banker