FT : Ireland’s banks brace for debt settlement

Dreaded_Estate

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Front page of the FT again today



Eurozone test over €25bn repayment

Irish banks are gearing up to repay more than €25bn of debt in the coming month, in what could prove an important test of investor sentiment towards the broader eurozone financial sector.

Bond markets will begin to re-open in Europe this week after the summer hiatus. The Irish redemptions have prompted concern over whether a slew of bonds from the country, to refinance the maturing debt, could weigh on the wider market and affect investor appetite for other bank borrowing.
But increasing concerns about the health of Ireland’s economy have raised the premium it pays over benchmark German borrowing costs to record levels, which will push up the price the country’s banks must pay to refinance their debt.

“There is a concern that there’s a lot of need to issue by Irish and Spanish banks this month [September], and when they do come to the market, what price they will have to pay,” said Rohith Chandra Rajan, an analyst at Barclays Capital.
And more..
Ireland seeks to wean banks off state guarantee


Adding further to Fridays FT editorial calling for senior bondholders to share some of the losses
 


rockofcashel

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Nah, no problem, we've loads of money.. we turned the corner don't ya know
 

hellsbells

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yehbut_nobut

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Nah, no problem, we've loads of money.. we turned the corner don't ya know
If you turn 4 corners one after another, doesn't that leave right back wher you started?
 

eoghanacht

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Is this a bit like Lisbon II, vote yes for jobs.

Or in this case

Pay up or you'll never be able to borrow from the markets again.

Still wating on those jobs BTW
 

hellsbells

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MPB

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The ECB will stump up, as the 25 billion is probably owed to German, French and British Banks and saving them through lending to us at a premium, is EU policy.
 

Andycap

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hammer

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No idea. That is why I posted it. It would seem easy enough to turn it around without going down such a route.
 

Andycap

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Read it again and it says "qualifying liabilities" which are unsecured. Still, how do you run up that amount of unsecured debt with decent incomes?

Need more detail mr. irish times!!!
 


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