The high number of unemployed youths in Egypt and Tunisia has been a ticking “time bomb”, IMF chief Dominique Strauss-Kahn on Tuesday told CNBC. Tweet This Post
A new law in Ireland that may compel the ECB to bear losses on collateral accepted for loans issued to commercial banks has been criticized by the ECB. The legislation has enabled the government to carry out restructuring exercises in the banking sector. Tweet This Post
Spain’s funding requirements for not just the central government but for banks and other regional governments combined with bad loans issued by banks, bursting of the real estate bubble and the high local government deficits has raised fears of downgrade of Spain’s credit rating by the agency Moody. Tweet This Post
Ireland’s budget for 2011 has been outlined by Brian Lenihan, the finance minister. According to the minister’s statement, the plans for next year’s Irish budget will make it one of the toughest ones, with a target of EUR6bn in tax hikes and spending cuts. Tweet This Post
The head of the International Monetary Fund (IMF), Dominique Strauss-Kahn, will request finance ministers of euro zone countries to increase the amount of the safety net for EU member countries which have been hit hard by the financial crisis. Tweet This Post
Irish central bank Governor Patrick Honohan argues that Ireland’s banks are basically up for sale, as Dublin announced it is seeking a bailout from the European Union and the International Monetary Fund (IMF). Tweet This Post
Ireland’s government held a press conference on Wednesday to talk about the austerity measures it plans to implement during the next four years. Tweet This Post
After Ireland has made official its intention of seeking bailout from international lender, the UK offered it on Monday a direct loan amounting just over $11bn. George Osborne, the British finance minister, stated that Ireland’s a “friend in need” and that the loan offered is in the national interest of Britain. Tweet This Post
Ireland’s Finance Minister Brian Lenihan stated on Sunday that the country is going to seek bailout from international lenders such as the International Monetary Fund (IMF) and the EU Commission. Tweet This Post
Ireland has agreed on November 17 to meet a mission of the European Union (EU) and the International Monetary Fund (IMF) and work side by side to establish crisis step. Although Dublin has expressed to be reluctant towards a bailout, the crisis situation of Ireland’s banking sector may lead to one. Tweet This Post