Analysis > michael noonan

David Murphy: Don’t expect a giveaway Budget

It is less than five weeks to the Budget and the annual routine of ministers arguing their cases for more money for their departments is well under way. Many of the ministers have legitimate cases. Despite the remarkable economic turnaround money is tight. EU rules prevent countries from excessive borrowing to pay for day-to-day spending. This week Minister for Finance Michael Noonan tried to manage expectations regarding the amount of money available. He stood by the Government’s previously stated position …

'It's all left or right now'

A chance encounter on a Leinster House corridor last week should have alerted me; chatting to Michael Noonan about the water charge u-turn, the Finance Minister suggested that the steam was going out of the issue, but that the controversy had been very instructive -“it’s all left and right now”  he said,  or words to that effect. By Political Correspondent David Davin-Power

Bailing in or bailing out: Depositors and the painful road to a banking union

By Tony Connelly, Europe Editor, Brussels In Ireland we know only too well the cost of burdening the taxpayer with the fallout from a collapsing bank. The sins of the financial sector placed a €64 billion weight on the shoulders of current and future generations.

Clarity on Ireland and debt, but confusion in the eurozone remains

  By Paul Cunningham, Europe Correspondent After nine hours of talks by eurozone finance ministers, the Irish Government now knows both the process for the renegotiation of its banking debt and the target date for a decision. A statement after the Eurogroup meeting said that officials from the European Commission, European Central Bank and International Monetary Fund – or troika – would examine “technical solutions to improve the sustainability of the well-performing [Irish] adjustment programme.” The outcome of those negotiations …

What next for Promissory Notes?

Tony Connelly, Europe Editor, in Copenhagen The government is putting the best gloss it can on the Anglo promissory notes deal, but opinion is divided as to how much has been achieved. The exchequer doesn’t have to find €3.06 billion immediately, and it can potentially ease the state’s return to the bond markets in early 2014. On the other hand the deal will still cost the state €90m in costs, and it will have to be revisited in one year’s time. …

Noonan to meet Draghi as Greek debt talks stumble

By Tony Connelly, Europe Editor, in Brussels Minister for Finance Michael Noonan will meet Mario Draghi, the ECB president, in Frankfurt later today. Although the two men will have met on the margins of EU finance ministers’ meetings, this will be their first formal meeting since the Italian took over from Jean-Claude Trichet in November. The government is still seeking to lower the €63bn portion of the country’s debt burden which relates to the bailout of Irish banks.  Dublin’s argument …