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Updated, 10:56
IRELAND HAS RETURNED to the bond markets today for only the third time since entering an EU-IMF bailout – raising €500 million through the sale of short-term bonds.
The National Treasury Management Agency said the auction had resulted in it paying a ‘yield’ (or interest rate) of 0.70 per cent.
That interest rate is down significantly on the yield paid after a similar auction two months ago, when investors demanded an average interest rate of 1.8 per cent.
The NTMA said demand for the short-term bonds, known as ‘treasury bills’, was 3.03 times the amount on offer.
Finance minister Michael Noonan said the result “once again highlights the improvement in market sentiment towards Ireland”.
“It is clear that the markets are reacting very positively to the June 29th commitment [of Eurozone leaders to split Ireland's bank and sovereign debts] and positive developments in Europe,” he said.
The prospects of a more favourite rate took a boost yesterday when the price of borrowing on the second-hand markets came down after Germany’s top court rejected a challenge to the Eurozone’s new permanent bailout fund.
The cost of a one-year loan – which had stood at almost 10 per cent a year ago, and over 5 per cent only three months ago – closed yesterday at 1.35 per cent, having fallen dramatically as one of the last major legal barriers to the ESM was removed.
When Ireland had issued its last three-month bills, the interest rate stood at 4.28 per cent.
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Lucinda might be a regressive god-botherer – and good riddance to her – but if Paschal Dohohue’s performances on Vincent Browne’s show are anything to go by, he’s a proper idiot.
“I have tonight accepted with regret the resignation of Deputy Lucinda Creighton ….” He asked for her resignation, so where is the regret? Kenny should do the honourable thing and hand his resignation in to the President.
Genuine question. Who would you like to replace him? Martin? Adams?
Just because you don’t agree will the legislation that passed through the Dail tonight does not mean Enda Kenny is not an honorable man without morals. Hypothetically speaking I wonder what your response would be if say Enda Kenny had brought legislation to stop women from travelling to the UK for an abortion. I’d be willing to bet that you and you pro-life cohorts would be singing the man’s praises if he did.
Regardless of the legislation passed through the Dail tonight (a watered down woman abusing piece of junk) Kenny is a twit.
Killian,
There’s a spare Bruton.
Terence, it’s called manners.
The Jobs Minister? Or is that autocorrect and you meant the Social Protection Minister?
The one that can replace Enda quickest… Et Tu Bruton. That Bruton.
The one with a brain.
George, in any sphere of life there are manners and conventions that must be conformed to. This is such a sphere. Another example is in law where a judge is addressed as ‘Your Honour’ and lawyers speak of learned colleagues. I was merely trying to explain why I said ‘manners’, not having a chip.
Your Honour doesn’t cut it here. “Judge” does.
Thanks, Paul. Haven’t been to court. Must have been watching too many movies :-)
Smiley,
Your manners put mine to shame. I applaud your good nature.
And yet he’s Taoiseach and you’re not.
This comment thread concerns a call for him to resign. Yes, he is Taoiseach. In time he won’t be. Some here think sooner would be better than later.
Another ‘yes’ man….
He’s a lovely man. He’s replacing a nice, but at the same time, miserable woman.
What was that about bad decisions being made at this time of night???
She stood by her views. The Only Woman who did x
What about the many women who agreed with the legislation and voted accordingly?
Best of luck to him. Shane Ross tweeted earlier that he works hard, does his homework. Let’s hope he works to get us out of the bailout and to restore our sovereignty.
“Congratulations Paschal”
You’ve hit the pension jackpot!!
And you thought Lucinda was thick!
What is that based on Kevin?
Personal interaction with him going back as far as 1993/94.
Fair to say the FG talent gene is fairly shallow.
Should have tom Barry into battle with Merkels rear end
:-)
Oh my god. This tool. AND the hits keep coming………
Plenty of ambitious climbers in the FG lobster pot.
I like lobster; they can only think in two dimensions – a bit like Enda Kenny.
He is a bloody free loading waster. Our local TD who showed up at every community event and meeting pushing himself as some sort of hero for Dublin central going to solve all the problems. Haven’t seen him or the pr1ck who follows him everywhere since… Useless councillor useless senator sh1te TD and will help bring down the Govt as a pr1ck of a minister…
Dubdon
I’d wish you were a little bit more open about your views!
I presume that he got elected without your vote! Could it be you wouldn’t vote FG anyway?
Congratulations to Paschal. Very well suited to the position. No doubt he will do a great job.
He’s an incredibly annoying looking/ talking man, another embarrassment to our country.
Somewhere there is a village missing an idiot
Wrong Steve, FG is a whole village of idiots.
@ Colm. Gay.
@Simonjblake: What is that “gay” comment? Rather insidious. If you’re making an allegation about a TD or a poster (not sure which) then do it properly, don’t just drop the word in like that. Not that a person’s sexual orientation had anything to do with anyone else. Cowardly and a cheap shot.
Calm down insider. I was calling Colm gay for giving Edna’s new whipping boy such an unashamed blowing. And why did you automatically assume Gay was bad? Says something about your perceptions perhaps.
Another freeloader to pay a pension to.
Once Lucy gets the pension that’s all I’m worried about
She’s not entitled to a pension
Yes she is. Entitlement to a Ministerial pension is achieved after two years of service.
Top Quality Appointment.
And so the merry-go-round begins. Shouldn’t we have the best person for the job not flip-flopping ministers so they get their pensions is not the way forward.
Couldn’t believe this when I saw it! A small talent pool indeed! At least Creighton was competent, but this guy….? I still don’t think it’ll be enough to save a FG seat in Dublin Central. Unbelievable!
Daffy duck on the gravy train now
Ah a “yes man” thank god for that.
This is fantastic news really really . Great news for him .
Ah sweet, Endas’ little pet yes sir no sir 3 bags full sir
I pity the poor translators working for the European Union.
If Smithers were describing Donohue to Mr Burns he would describe him as ‘one of your chair moisteners from sector 7G’.
have your say