Noonan readying plan to tap European rescue fund

The government is working on a plan to recoup some of the money it ploughed into failing lenders from the euro area’s backstop fund, finance minister Michael Noonan said.

1st July, 2013
Michael Noonan: “If we go there naively and put out our hand and say give us the money we won’t succeed.”

The government is working on a plan to recoup some of the money it ploughed into failing lenders from the euro area’s backstop fund, finance minister Michael Noonan said.

Euro-zone finance ministers last month agreed on theoutlines of a plan for the €500 billion European Stability Mechanism to recapitalise lenders directly. Retroactive application of this tool, as would be the case if Ireland applies, will be decided on a case-by-case basis.

ìI would...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month, €19.99 Monthly thereafter

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago