The Sunday Business Post are reporting that the IMF have told the government, that they believe, that there is a new 16 billion EUR capital hole in Irish banks.
The capital hole is coming from mortgage arrears, buy-to-let arrears and inefficient bank operations.
As previously reported, the IMF are pushing for stress tests to be done in 2013 for Irish banks. The government are pushing for stress-tests to be done in 2014 via crappy pan European tests.
So where are we going to get this 16 billion from? Bailout II or yanks buying low yield Irish government debt?
IMF delivers tough assessment of Irish economy • thepropertypin.com
Well it's not as big as Peter Matthews' unrebutted €60 Billion but it could be the start of a gory unravelling of detail.
What next for the Irish Banks with this News - is Repomania about to come to a place near you?
Or is it the Downgraded ESM to the Rescue, despite it's Boss Regling's stated reluctance to Bail out more Banks.
Perhaps we will find out whether or not Ireland is the next Cyprus before we have to roll-over some of these little beauties
Irish Government Bonds | National Treasury Management Agency (NTMA)
5.0 Treas Bnd 2013 FRB IE0031256328 18-Apr-13 4,616.21
4.0 Treas Bnd 2014 FRB IE00B3KWYS29 15-Jan-14 7,598.63
4.5 Treas Bnd 2015 FRB IE00B4V6D496 18-Feb-15 3,629.92
4.6 Treas Bnd 2016 FRB IE0006857530 18-Apr-16 10,168.45