Republic of Ireland | GlobalPost

Aer Lingus expects pension resolution this year

Thomson ReutersApril 25, 2013 03:30

DUBLIN (Reuters) - Aer Lingus expects to resolve a dispute with unions over a shortfall in a pension fund this year, though it is too soon to say how much the airline will need to contribute, Chief Executive Christoph Mueller said on Thursday. "I am quite confident we are going to see an outcome of this entire issue in 2013," Mueller told journalists, saying a ruling by the Labour Relations Commission possible within weeks would then be voted on by unions and shareholders.

Irish financial regulator Elderfield to step down

Thomson ReutersApril 9, 2013 11:46

By Laura Noonan and Conor Humphries DUBLIN (Reuters) - Ireland's financial regulator Matthew Elderfield said on Tuesday he would quit after three years in which he overhauled a dysfunctional system of bank oversight and pressed lenders to deal more quickly with bad debts. Elderfield was hired in 2010 to overhaul a watchdog that had failed to rein in years of reckless lending that pushed the Irish economy and banking sector to the brink.

Bank of Ireland slumps into 1.8-bln-euro annual loss

Agence France-PresseMarch 4, 2013 12:53

State-rescued Bank of Ireland said on Monday that it plunged into the red in 2012 after it was hit by a soaring level of bad debts. The positive impact of a 2011 debt write-off was not repeated, therefore. BoI said in a statement that losses after tax hit 1.83 billion euros ($2.38 billion) last year. That contrasted with a net profit of 40 million euros in 2011, when it was boosted by a one-off shares-for-debt deal with its lenders.

INSIGHT-Irish banks at mercy of international paymasters

Thomson ReutersJanuary 29, 2013 03:45

* International lenders hold key to Irish banking recovery * ECB has rejected Ireland's preferred proposal to reschedule bank debt * Solution for loss-making tracker mortgages put on back-burner * Next stress tests to use less severe model for mortgage losses By Laura Noonan and Padraic Halpin LONDON/DUBLIN Jan 28 (Reuters) - Ireland's banking recovery could yet be derailed by its international creditors.

INSIGHT-Irish banks at mercy of international paymasters

Thomson ReutersJanuary 28, 2013 12:15

EXCLUSIVE-ECB rejects Irish bid on promissory note-sources

Thomson ReutersJanuary 26, 2013 11:30

Jan 26 (Reuters) - The European Central Bank has rejected Ireland's preferred solution to a dispute over the cost of servicing money borrowed to rescue a failed bank, EU sources familiar with the talks said on Saturday. Dublin wants to avoid having to pay 3.1 billion euros a year until 2023 to service a promissory note it issued to underwrite failed Anglo Irish Bank during a meltdown of the main Irish lenders after a real estate bubble burst in 2008.