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THE FINANCE SPOKESPERSONS for the two main opposition political parties have criticised the lack of any public commitments on dealing with Ireland’s banking debt burden, following today’s visit of the German finance minister to Dublin.
Both Fianna Fáil’s Michael McGrath and Pearse Doherty of Sinn Féin said Schauble had not given any public commitment to improving Ireland’s position – which they said acted as a blow to Ireland’s hopes of finding help in meeting its banking costs.
McGrath said the deal of June 29, when EU leaders agreed to split banking debt and sovereign debt as a means of encouraging investors to lend to national governments, now appeared to be “slipping further and further into the distance”.
Though Schauble told reporters he was “very impressed” with the progress Ireland had made under its bailout programme, and said he was “100 per cent” assured that Ireland would not need a second bailout, he declined to comment on Ireland’s campaigns to share its banking burden, and to restructure the Anglo promissory notes.
McGrath said it was ‘ominous’ that Schauble had echoed comments of Mario Draghi, the president of the ECB, who said the establishment of a single EU banking supervisor – which is accepted as a pre-requisite before the ESM bailout fund can invest in banks – may not be final until 2014.
We can only assume that Ministers Noonan and Howlin asked Mr Schauble if he still holds the view [...] that the ESM could not be used to deal legacy debt.Certainly in his public comments today, Mr Schauble did not in any way unwind those comments. Following today’s meeting, we are none the wiser as to what Ireland’s ‘special case’ status will mean when it comes to securing a deal on bank debt.
Doherty said the failure to extract a public commitment from Schauble suggested that a deal for Ireland “has been parked until the second half of 2013″ and could yet fall victim to German domestic politics.
The government of which Schauble and Angela Merkel are ministers will see its mandate expire in September 2013 – and it has been suggested that their chance of re-election could be damaged if Germans believe they could be forced to cover the costs of bailing out Irish and Spanish banks.
“The German finance minister was asked on a number of occasions to state whether he believed a deal on the legacy debt was possible or desirable. On each occasion he declined to comment,” Doherty said.
“Nothing said at today’s press conference contradicts the clear statement against ESM funds being used to retrospectively recapitalise banks by Angela Merkel on Friday 19 October.”
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My wife was under the supervision of Dr. Louise Kenny who is one of the leading Doctors in this research. My wife delovped this condition in her three pregnancy’s the last only two weeks ago. Only for the very highly skilled Dr. Kenny we have three healthy children. Well done to all involved and keep up the excellent research.
Fantastic news.
I suffered badly with this during my one and only pregnancy which lead to my boy being born 10wks early. Both of us came out of it great thankfully and you wouldn’t belive now that my boy was only 2lb7 when born. He is fine, big and healthy now. I was advised to be happy with what I had and not try pregnancy again.
So this news is amazing and its just a pity my time clock is against me. But best of luck to those that lives it will touch.
This is fantastic news, I’m currently on bed rest with high blood pressure during my pregnancy and hoping it doesn’t develop into pre-eclampsia! I wish all those involved with this project the very best of luck!
Best of luck to you Starry eyed :)
This is a wonderful advance. It will save many lives and help spare heartache. Pre-eclampsia was diagnosed too late for my first pregnancy and my premature son only lived 4 days. I had pre-eclampsia from the beginning of my second pregnancy but thankfully with blood pressure medication and regular monitoring, I have a very healthy daughter. Best of success to this company.
Well done folks!
Hi folks, Just to draw your attention to a link that you might find useful should you require more information about pre-eclampsia – have a look at the Pre-eclampsia Foundation’s website: http://www.preeclampsia.org/
I added it to the end of the article above but just in case some people didn’t read right to end and skipped straight to comments. (Not that that EVER happens on our site ;))
Best of luck to all mums and dads-to-be, Susan
Well done to them and hopefully it’s successful. I had pre-eclampsia with both my children and its one of the reasons I won’t have a third. Anything that can detect and hopefully in time prevent this awful condition is to be applauded.
It is a UCC spinout company too – great news for them, well done!
I love it!
Well done to all involved. Up Cork and its enterprising personnel.
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