When more than €3m is too much.
On the Personal Insolvency Bill, Michael Noonan (left) said the cap on people using the insolvency legislation of debts of €3m would remain. He said the ECB thought the figure was too high, while the Department of Justice said it was too low. But Minister Brendan Howlin commented that the Troika was happy with the figure.
Talks held With Troika On Bailout Programme Exit Assistance (RTE)
(Sasko Lazarov/Photocall Ireland)
From TheStory.ie:
This is the letter from the then Irish Finance Minister Brian Lenihan sent to the Troika, seeking financial assistance for the Irish State on November 21, 2010
Via @TheStory.ie
Brian Lenihan at a pre-budget press conference on November 12, 2010.
So many questions…
Karl Whelan writes:
Did the ECB communicate with Brian Lenihan on November 12, 2010? If so, why was this communication not referred to in response to the [FOI] request by Mr.[Gavin] Sheridan [of TheStory.ie] request?
Did the ECB threaten to withdraw funding from Irish banks unless Ireland entered an EU-IMF program, either in a letter dated November 12 or in meetings the following weekend?
What are the contents of the November 19 letter and why is this letter considered so sensitive given that it was clear to all after [Central Bank] Governor [Patrick] Honohan’s remarks on November 18 that a bailout deal was being concluded?
Anyone?
The ECB’s Secret Letter To Ireland: Some Questions (Karl Whelan, Forbes)
(Sasko Lazarov/Photocall Ireland)
THE GOVERNMENT is working to a deadline of the end of October for reaching agreement with the European Union on substantial reductions in the State’s bank debts.
Minister for Finance Michael Noonan (above) will table the Government’s first proposals for a revised banking debt arrangement for Ireland at a meeting of EU finance ministers in Brussels next Monday.
However, Mr Noonan, Taoiseach Enda Kenny and Tánaiste Eamon Gilmore have all refused to quantify the scale of bank debt reduction they will seek when negotiations begin in earnest next week, although it is understood officials are working on a possible cut of upwards of half of the total €63 billion spent to date on bailing out the banks.
No, really. Good luck with that.
Government targets end of October for EU deal on bank debt (Irish Times)
(Photocall Ireland)
Dudes.
Never let them see you cry.
Michael Noonan and Brendan Howlin delivering the news that we have delivered on “all the latest targets” set out in the Troika’s “programme for assistance”.
Relax. They’re in control.
Michael Noonan Says He Does Not See need For A Mini-Budget (RTE)
(Sam Boal/Photocall Ireland)
Stephen @troikarelocations writes:
Should I be embarrassed that I own a company called Troika? To be fair, it does operate in Russian, and the name refers to a three horse carriage that seems to capture the essence of Russia, and most Russians would associate it with a famous painting by Perov.
Sounds fair.
Brian R writes:
Troika. Can’t get away from them. Even in Canada.
Daithi O’Fallamhain writes:
Snapped this in a shop where I live in Norway. It’s tagline translates into ‘Triple the Enjoyment’.
