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Tag Archives: NAMA
No Deal on Legacy Debt? Ok… a modest proposal for future debt.
So we have / have not a deal on legacy debt but do have a deal on the ESM recapitalizing (prospective) losses in the banks. I think. Merge NAMA with IBRC. Fling in all mortgage debt at 50% off. Credit … Continue reading
17% of NAMA sold to British company formed just 17 months ago
Reblogged from NAMA Wine Lake: Well there was speculation going around Dublin on Friday afternoon about it, but this morning NAMA has confirmed in a press release – available from their representatives, Gordon MRM here – that the 17% stake … Continue reading
Trying to untangle the kites flying around the Anglo Irish Promissory Note? A guide…
So, the old chestnut (at this stage so old and withered it’s a conker) of floating a bond to replace the anglo Irish bank promissory note has rared its head once again. The report in the times is fair, if the … Continue reading
Posted in Blogpost
Tagged Anglo, bondholders, Central Bank, ECB, economy, Europe, germany, NAMA, politics
5 Comments
NAMA makes measly €12m pre-tax profit in 2011
Reblogged from NAMA Wine Lake: NAMA is publishing its 2011 Annual Report today. The profit and loss account and balance sheet shouldn’t be much changed from the unaudited 2011 accounts published at the start of May 2012. But they are. … Continue reading
Euro deal saves Ireland? Maybe…
It’s not clear that it does. I’m not sure it’s a seismic (Enda Kenny) or massive (Eamonn Gilmore) deal. And it happened because of Spanish and Italian pressure. So far as we can see at present there are three parts … Continue reading
Posted in Blogpost
Tagged Anglo, Anglo Irish Bank, austerity, bailout, banking, banks, bond holders, bondholders, Bundesbank, Central Bank, ECB, economic collapse, economics, economy, ELA, Europe, IMF, NAMA, noonan, Promissory Notes, sovereign debt
2 Comments
Insolvent country in IMF bailout programme to pay 1% of its national income this week to unsecured, unguaranteed bondholders in world’s most bust bank
Reblogged from NAMA Wine Lake: “I put my cards face up on the table, saying, ‘Look, it’s no longer a bank. Anglo is now merged with Irish Nationwide. It’s a warehouse for impaired assets. Its deposit base has been moved … Continue reading
Minister reveals that only 18% of NAMA loans are performing, and even this is set to decline
Reblogged from NAMA Wine Lake: Ah remember the innocent old days of 2009 when NAMA was just a glint in Peter Bacon’s eye? The assumption was that loans extracted by NAMA from the banks would see the banks crystallising losses … Continue reading
2011 annual reports for Irish banks reveal potentially catastrophic losses and additional bailouts requirements
Reblogged from NAMA Wine Lake: So far Ireland has spent €67.8bn bailing out the banks, comprising €62.8bn in cash and promissory notes directly injected into the banks, and a further €5bn gifted to the banks by NAMA in state-aid and … Continue reading
Is the Anglo Promissory Note “deal” announced in March 2012 now in tatters?
Reblogged from NAMA Wine Lake: If you ask the Government what it has done to deal with this country’s debt, particularly the debt arising from the €68bn* bank bailout, you will get a three-part response. Firstly the Government claims to … Continue reading
Minister Noonan’s responses to Dail questions shine further light into the Anglo promissory note deal (you won’t be impressed)
Reblogged from NAMA Wine Lake: Question: If I loan you €10 on 3rd April 2012 for a maximum of 90 days, what is the maximum “maturity date” for you returning the €10 to me? Answer: Should be 1st July, 2012 but … Continue reading
