“Question: Last month you said that we have not heard the last word on the Irish promissory notes. So, I wonder, when will we hear the last word?
Mario Draghi: We periodically review compliance with Article 123 by all countries. If I am not mistaken, the review should happen at the end of the year, but the Governing Council will decide in complete independence when to have this review, or a review of similar situations. I do not have a date to give you now. I think there is a date when this is going to be done, and I believe it is at the end of the year, but I cannot let you know for sure .” ECB president Mario Draghi – pictured above - responding to a question at the ECB press conference in Frankfurt yesterday. Feeling reassured?
Noonan refuses to answer a simple question: can ECB unilaterally unravel prom note deal? | NAMA Wine LakeDeputy Colm Keaveney: asked the Minister for Finance further to Parliamentary Question No. 185 of 26 February 2013, if the European Central Bank has the lawful authority to direct the Central Bank of Ireland to dispose of the bonds, referred to in his reply, in accordance with a schedule different to that detailed by him in his reply; and if he will make a statement on the matter. [11797/13]
Minister for Finance, Michael Noonan: The Irish Government fully understands the need for the ECB to ensure it is operating within its mandate. As previously outlined by the Central Bank of Ireland, the bonds will be placed in the Central Bank’s trading portfolio and will be sold, provided that conditions of financial stability permit. The disposal strategy will of course maintain full compliance with the Treaty prohibition on monetary financing. The Central Bank of Ireland has undertaken that minimum of bonds to be sold in accordance with the following schedule: €0.5bn by the end of 2014, €0.5bn per annum from 2015 to 2018, €1bn per annum from 2019 to 2023 and €2bn per annum from 2024 onwards.
This mess is still rattling on as the printers are in overdrive with our Property Tax bills enroute.
Unions are all over the place with Croke Park 2 & the Cops et al aren't lookin too happy.
After Daveo Begg's recent pronouncement are relations set to worsen between Ireland & Europe?
Will Berlo, Grillo, Golden Dawn & Co further anger Draghqueen's against Ireland or persuade him to maintain our "Poster Boy" status?
Where is Ireland heading for today - can Noonan nail down the Pro Note Deal - period?
Will the Emerald Isle drop the Fake Smile???