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Truth is, Ireland's banks need more capital


parentheses

Well-known member
Joined
Aug 26, 2011
Messages
13,812
Article I came across. The troika will be insisting on new stress tests for Irish banks in the autumn.

As the author points out, the factt Irish banks are not lending normally is the clearest sign they are not in good shape and will need more capital

So assuming the banks need a lot more capital? The govt. at this stage is unable to take on a lot more debt to bail them out. Could the Cypriot precedent be applied to Irish banks?

The simple truth is that Irish banks need more capital - Financial Services News | Business News | The Irish Times - Mon, May 13, 2013
 
M

MrFunkyZombaloo

Article I came across. The troika will be insisting on new stress tests for Irish banks in the autumn.

As the author points out, the factt Irish banks are not lending normally is the clearest sign they are not in good shape and will need more capital

So assuming the banks need a lot more capital? The govt. at this stage is unable to take on a lot more debt to bail them out. Could the Cypriot precedent be applied to Irish banks?

The simple truth is that Irish banks need more capital - Financial Services News | Business News | The Irish Times - Mon, May 13, 2013

I don't think it's a case of could...

Hello €urozone. Template calling.

Bank deposits over €100,000 may be at risk


Deposits of over €100,000 are likely to be hit in the event of future European bank collapses, according to a proposal put forward by the Irish presidency of the European Council ahead of a key meeting of finance ministers next week.

[...]

some member states have not ruled out the possibility that insured deposits... would be forced to bear losses in the event of a bank collapse...

However, the explicit exclusion of insured deposits from future “bail-ins” could in fact be included in the final text
Cyprus may be coming to a bank near you. Confidence and stability?... who knows...?
 
M

MrFunkyZombaloo

I see Noonan is after a watered-down stress test...

Given the Government’s position, we can assume it will push hard for a fairly light test that will not give the bond market too much cause for concern.Minister for Finance Michael Noonan has already apparently won one concession, which is that the minimum capital threshold will fall from 10.5 per cent to 9 per cent of loans.
Now, why would that be?
 

Ren84

Well-known member
Joined
Jan 14, 2011
Messages
50,016
Funky, are you the new Deefer? petunia

As for the banks, they can feck off. They've received enough of our money the cu.nts!
 

mcdonald douglas

Well-known member
Joined
Jul 26, 2009
Messages
378
They raided pensions,put extra tax(levy)on insurance policies.Introduced a tax on homes.They will raid your savings next.Southern Ireland is a very weird,dysfunctional place.
 

Inda Kenny

Well-known member
Joined
Apr 6, 2010
Messages
519
Article I came across. The troika will be insisting on new stress tests for Irish banks in the autumn.

As the author points out, the factt Irish banks are not lending normally is the clearest sign they are not in good shape and will need more capital

So assuming the banks need a lot more capital? The govt. at this stage is unable to take on a lot more debt to bail them out. Could the Cypriot precedent be applied to Irish banks?

The simple truth is that Irish banks need more capital - Financial Services News | Business News | The Irish Times - Mon, May 13, 2013
Well the insolvency service kicks in at the end of June so expect a lot of chickens will start to come to roost then. According to Baldy Noonan some months ago the banks were well capitalized?
 

commonman

Well-known member
Joined
May 29, 2010
Messages
5,357
They will call it some other name than bailout to try and fool the people again, there is one thing this government are good at and that is telling the people lies.
 

Ren84

Well-known member
Joined
Jan 14, 2011
Messages
50,016
They raided pensions,put extra tax(levy)on insurance policies.Introduced a tax on homes.They will raid your savings next.Southern Ireland is a very weird,dysfunctional place.
Southern Ireland?! I would have though the pension levy was applied to all parts of the Republic, not just Cork and Waterford. :confused:
 
B

birthday

Article I came across. The troika will be insisting on new stress tests for Irish banks in the autumn.

As the author points out, the factt Irish banks are not lending normally is the clearest sign they are not in good shape and will need more capital

So assuming the banks need a lot more capital? The govt. at this stage is unable to take on a lot more debt to bail them out. Could the Cypriot precedent be applied to Irish banks?

The simple truth is that Irish banks need more capital - Financial Services News | Business News | The Irish Times - Mon, May 13, 2013
Could the sate be on the hook for DB pension schemes in AIB, BOI, Aer Lingus a la Waterford crystal also?
 

viper999

Well-known member
Joined
Dec 9, 2011
Messages
2,093
of course they need more cash,
1 diference with cyprus it wont be just the
100'000 plus hit, it will be all deposit
a/cs. i can see it named like a solidarity tax,
the rich are always protected in ireland it would
never be just them paying.
thats why i have a safe with my savings in it,
i have suffered enough with new taxes and I'll
be fu.cked if they are robbing 10p.c of my savings
to pay for some poxy gambling debts that have
nothing to do with me
 

Watcher2

Well-known member
Joined
May 2, 2010
Messages
33,996
Article I came across. The troika will be insisting on new stress tests for Irish banks in the autumn.

As the author points out, the factt Irish banks are not lending normally is the clearest sign they are not in good shape and will need more capital

So assuming the banks need a lot more capital? The govt. at this stage is unable to take on a lot more debt to bail them out. Could the Cypriot precedent be applied to Irish banks?

The simple truth is that Irish banks need more capital - Financial Services News | Business News | The Irish Times - Mon, May 13, 2013
The article is a bit light on facts. It does point out that expected losses were smaller than expected so it actually reads fairly positively despite the authors attempts. And I'm normally fairly pessimistic about the economy, government etc
 

parentheses

Well-known member
Joined
Aug 26, 2011
Messages
13,812
One thing I notice is large denomination euro notes are not issued.

I took out a couple of thousand a while back. I asked the cashier to give it to me in 100 notes. She said they only have 50s.

I think banks don't want large denomination notes in circulation, people might keep their savings in cash if large denomination notes were available
 

Ren84

Well-known member
Joined
Jan 14, 2011
Messages
50,016
One thing I notice is large denomination euro notes are not issued.

I took out a couple of thousand a while back. I asked the cashier to give it to me in 100 notes. She said they only have 50s.

I think banks don't want large denomination notes in circulation, people might keep their savings in cash if large denomination notes were available
More likely anything larger than a 50 is next to useless for most people. I've never once paid for anything with a 100 note. In fact the ECB would do well to withdraw 100, 200 and 500 euro notes.
 

devoutcapitalist

Well-known member
Joined
Feb 26, 2013
Messages
16,607
i don't have €100k on deposit but is newry a good bet to open up a new savings account where i can transfer all my savings?
 
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