Obbligazioni bancarie Banche irlandesi: newsflow, ratings, bonds. Il fronte irlandese dell'Euro.

[tommy271]

Irish/German bond yield spread hits record high


LONDON | Thu Nov 11, 2010 4:25am EST



LONDON Nov 11 (Reuters) - The premium investors demand to hold 10-year Irish government bonds rather than German benchmarks hit a euro era peak on Thursday as investors fretted about Ireland's debt pile and its ability to fund itself.
The 10-year Irish/German government bond yield spread IE10YT=TWEBDE10YT=TWEB expanded by 20 basis points on the day to 665 bps, with traders saying liquidity had dried up.
"It's just a continuation, but the market isn't functioning properly, there doesn't seem to be any buyers," a trader said.
"The 4-year area of the curve is exploding. There're similarities with Greece a few months ago with the flattening but what will be the ultimate end we can't be sure."
The 2/10 year Irish bond yield curve has flattened to 137 bps from 239 bps on Monday.

 

[METHOS]

German Govt Sources Say EMU Preparing For Ireland Aid: Press

FRANKFURT (MNI) - Eurozone governments are preparing for a possible Greece-style rescue for Ireland although the country has not yet asked for financial assistance, German daily Handelsblatt reported Thursday, citing German government sources.
"The rise in Irish yields are a cause for concern" which is why Eurozone states are now examining whether Ireland needs liquidity support from the European stability facility, the paper said.
While Ireland had not asked for help as yet, euro area governments are preparing for the emergency contingency. "We are ready to help Ireland on very short notice," one of the sources told Handelsblatt.

Complimenti alla Merkel, non c'è che dire...

Dopo l'irlanda prepariamoci al portogallo, poi alla Spagna e infine a noi.

 

[tommy271]

Ue non sta preparando pacchetto aiuti Irlanda -min.Fin. Germania

giovedì 11 novembre 2010 12:48




BERLINO, 11 novembre (Reuters) - Sono prive di fondamento le indiscrezioni secondo cui l'Irlanda avrebbe intenzione di ricorrere al meccanismo Ue del fondo di stabilità - Efsf, European Financial Stability Facility - per chiedere un sostegno finanziario.
Lo riferisce una portavoce del ministero delle Finanze tedesco.
"E' del tutto privo di fondamento: l'Irlanda non ha chiesto aiuto all'Efsf e siamo fiduciosi che Dublino sia in grado di mettere a punto con successo le previste misure di consolidamento dei conti pubblici" commenta.

 

[Imark]

German Govt Sources Say EMU Preparing For Ireland Aid: Press

FRANKFURT (MNI) - Eurozone governments are preparing for a possible Greece-style rescue for Ireland although the country has not yet asked for financial assistance, German daily Handelsblatt reported Thursday, citing German government sources.
"The rise in Irish yields are a cause for concern" which is why Eurozone states are now examining whether Ireland needs liquidity support from the European stability facility, the paper said.
While Ireland had not asked for help as yet, euro area governments are preparing for the emergency contingency. "We are ready to help Ireland on very short notice," one of the sources told Handelsblatt.

Complimenti alla Merkel, non c'è che dire...

Dopo l'irlanda prepariamoci al portogallo, poi alla Spagna e infine a noi.

Ma ormai si sta innescando una crisi di fiducia enorme. Grazie anche ai tedeschi, anzi direi che è merito loro...

Bene avrebbero fatto a tacere i tedeschi, anche se a questo punto, settimana più, settimana meno, l'epilogo della storia resta quello, ed è sancito dalle cifre...

Mi sono andato a rileggere le prime 5 pagine di questo 3D, scritte nel gennaio 2009, giungendo alla conclusione che tutto questo era già stato previsto da allora da chi di dovere.

Ti dirò Methos che io non mi stupisco della crisi di fiducia: mi stupisco di quanto a lungo il mercato abbia dato fiducia all'Irlanda.

L'Irlanda è come un signore che guadagna 100, spende quest'anno 130 (perché ha dovuto aiutare un figliolo in difficoltà) altrimenti avrebbe speso 110, ma ne ha altri due almeno di figlioli che probabilmente busseranno alla porta l'anno prossimo, ed ha un debito di 300 (fra ciò che deve lui e ciò che devono gli altri, ma per cui garantisce lui).

Ebbene questo signore si rivolge ai mercati e dice: abbiate fiducia ! Esibisce i suoi sforzi di risanamento (che più volte ho definito, senza ironia alcuna, stoici), ma dinanzi alla forza delle cifre, francamente mi chiedo che genere di fiducia si possa accordare all'Irlanda.

Qui la situazione è di tipo islandese, e non vedo facili vie di uscita.

 

[tommy271]

Ireland's financial woes reverberate at G20 summit (Roundup)

Nov 11, 2010, 12:42 GMT




Seoul/Brussels - The European Union moved to reassure financial markets Thursday that it was ready to support Ireland as the eurozone country's financial woes rippled to the Group of 20 (G20) summit in Seoul.
'We are monitoring the situation in Ireland on a permanent basis,' European Commission President Jose Manuel Barroso said in Seoul ahead of the start Thursday of the meeting of the world's 20 largest economies.

'We have all the necessary instruments in place to act, if necessary,' Barroso said.
His comments came amid growing concerns that Dublin would be forced follow in Greece's steps earlier this year, in calling for an EU-International Monetary Fund bailout because of the country's record debt levels.
In Brussels, commission spokesman Olivier Bailly stressed that no requests for help had come yet.

'Ireland has not requested any financial assistance from Europe.'
The yield on 10-year Irish bonds continued to surge Thursday, after registering the biggest one-day jump since the launch of the euro on the previous day.
Bonds were traded at 8.74 per cent, amid worries that Ireland would be forced to follow Greece in seeking financial aid from the EU to shore up its state finances and head off the threat of bankruptcy.

Barroso said the EU's current priority was to 'support the very important efforts' being put in place by Irish authorities to address the situation, noting that the bloc's economics commissioner, Olli Rehn, had just returned from a trip to Dublin.
'In case of need, the EU is ready to support Ireland,' Barroso said.
EU officials refused to explain how an eventual EU-IMF bailout would work. The bloc has a 440-billion-euro (603-billion-dollar) rescue fund ready to help euro countries in trouble.

'To comment those rumours would only add to the nervousness of the markets,' another EU spokesperson, Amelia Torres, said.
The Irish problem was expected to add to the concerns of the G20 heads of state and government, who were to meet in Seoul through Friday to discuss the fragile global recovery in the aftermath of the 2008 financial meltdown.
Ireland and Greece along with Spain and Portugal were badly hit by the crisis, which swept the global economy after the implosion of the US investment bank Lehman Brothers.

Irish authorities are struggling to contain public debt after facing a massive bill to rescue failing banks. Public deficit is set to reach a record 32 per cent of gross domestic product in 2010.
But the government insists it can bring it down below the EU-mandated limit of 3 per cent by 2014 without any outside help. Authorities are expected to unveil a four-year austerity programme later this month.

(Deutsche Press - Agentur)

 

[Gaudente]

Qui la situazione è di tipo islandese, e non vedo facili vie di uscita.

nominare una lesbica primo ministro ?

 

[METHOS]

nominare una lesbica primo ministro ?

Azz anche noi abbiamo un ... in corsa per sostituire Silvio. Devo incomunciare a preoccuparmi?

 

[METHOS]

Bene avrebbero fatto a tacere i tedeschi, anche se a questo punto, settimana più, settimana meno, l'epilogo della storia resta quello, ed è sancito dalle cifre...

Mi sono andato a rileggere le prime 5 pagine di questo 3D, scritte nel gennaio 2009, giungendo alla conclusione che tutto questo era già stato previsto da allora da chi di dovere.

Ti dirò Methos che io non mi stupisco della crisi di fiducia: mi stupisco di quanto a lungo il mercato abbia dato fiducia all'Irlanda.

L'Irlanda è come un signore che guadagna 100, spende quest'anno 130 (perché ha dovuto aiutare un figliolo in difficoltà) altrimenti avrebbe speso 110, ma ne ha altri due almeno di figlioli che probabilmente busseranno alla porta l'anno prossimo, ed ha un debito di 300 (fra ciò che deve lui e ciò che devono gli altri, ma per cui garantisce lui).

Ebbene questo signore si rivolge ai mercati e dice: abbiate fiducia ! Esibisce i suoi sforzi di risanamento (che più volte ho definito, senza ironia alcuna, stoici), ma dinanzi alla forza delle cifre, francamente mi chiedo che genere di fiducia si possa accordare all'Irlanda.

Qui la situazione è di tipo islandese, e non vedo facili vie di uscita.

Tutto giusto il ragionamento, però a questo punto dobbiamo temere pure noi. Chi sa cosa hanno in pancia unicredito e mps? E poi a me sembra che le nostre finanze pubbliche siano un pochino fuori controllo.
Se parte un crisi europea forte come facciamo a reggere? Con una classe politica (dx e sx) come la nostra poi...

Anche se i tedeschi hanno in parte ragione, io credo però che sia inutile in questa fase far percepire ai mercati soluzioni drastiche perchè è come far profezie che si autoavverano.

Fossi io a comandare farei un veicolo speciale che emette bond tripla AAA (garantito da tutti gli stati europei) che interviene a comprare debito pubblico dei paesi in difficoltà a fronte di seri impegni di risanamento. Se il paese non risana viene espulso dall'euro. In questo modo nessun partito politico (di dx o sx) cavalcherà il populismo di fronte a forti sacrifici richiesti alla popolazione, perchè sa benissimo che porterebbe il suo paese alla catastrofe.

 

[tommy271]

Fears of Greek-style bailout for Ireland grow



Thursday November 11 2010



Fears that the Government is heading for a Greek-style bailout swept through the UK banking sector today amid mounting worries about their exposure.
Part-nationalised RBS was the worst impacted, down 4pc at one stage, as investors fretted over its vulnerability to an Irish crisis through the group's Ulster Bank subsidiary.
The wider FTSE 100 Index also slipped into the red amid speculation of a worsening financial crisis in Ireland that could see the country turn to rescue cash to avoid bankruptcy.
Ireland's cost of borrowing has reached its highest level since the launch of the European single currency.
The yield on a 10-year bond reached almost 9pc yesterday.
In currency trading, the euro was likewise under pressure, down against the US dollar and the pound.
RBS was not the only bank seeing falls, with Barclays down 2pc and HSBC off more than 1pc in a poor session for blue chip financial stocks.
The International Monetary Fund (IMF) warned over bank exposure to debt-laden eurozone countries earlier this week, which it said could have a knock-on impact on the UK economic recovery.
Joshua Raymond, market strategist at City Index, said experts were anxious over a potential "domino effect" across the banking sector if Ireland's woes impact RBS.
He said: "Some market analysts have estimated the UK bank has exposures roughly totalling £42.2bn (€49.8bn) worth of Irish debt and so any escalation of its current problems could create a domino effect amongst those banks that have a direct or indirect association with its debt."
Concerns over Ireland centre around its mammoth bank bailout - the world's costliest when measured per capita - with some worried it will overwhelm the country's finances and force the Government to seek a financial rescue from eurozone partners.
The effect of this on its borrowing rates pose a serious headache for the Government, making it highly expensive for the country to borrow.
Central Bank governor Patrick Honohan has dismissed fears that Ireland will need to tap rescue funds, insisting that budget measures will resolve the nation's financial woes and restore investor confidence.
But the Budget has to get passed first on December 7 and experts remain concerned that Ireland is already effectively being shut out of credit markets.
It could be forced to follow in the footsteps of Greece, which was saved from imminent default on its loans in May, when it received a €110bn rescue loan from the other 15 eurozone nations and the IMF.
The Ireland issue comes as the G20 economic summit takes place in Seoul.
European Commission President Jose Manuel Barroso reportedly said yesterday at a briefing on the sidelines of the meeting that "in case of need, the EU is ready to support Ireland". He noted there were "necessary instruments" in place for that support.



Press Association
Irish Indipendent

 

[tommy271]

EU Juncker Spokesman: No Ireland Aid Package Being Discussed


BRUSSELS (MNI) - Eurozone governments are not discussing an emergency aid package for Ireland despite reports and rumors to the country, a spokesman for Eurogroup President Jean-Claude Juncker told Market News International.
Asked about reports that EMU states are working behind the scenes to prepare an aid deal even before Ireland asks for it, the spokesman, Guy Schuller, replied, "no, that's not true."

Such a rescue package "cannot be discussed before Ireland asks for it," he said. "There is no meeting, no conference, no discussion."
Earlier today, Germany's business daily Handelsblatt, citing German government sources, said EMU states were working on a contingency aid package for Ireland even though he acknowledged that Ireland had not yet requested aid.

Later, rumors swept through markets, according to which there was an E48 billion package in the offing.
Schuller said Juncker would make comments about the peripheral Eurozone states after a scheduled meeting of the Eurogroup next Tuesday, when finance ministers -- along with ECB President Jean-Claude Trichet and European Economic and Monetary Affairs Commissioner Olli Rehn -- will discuss the situations in Greece, Portugal and Ireland.



(imarketnews.com)