Menu
29/11/2010
State Assets Being Considered For Sale
Ireland's state assets are being considered for sale to raise cash, according to the Minister of Finance.
The news comes as the Government released the details of the €85 billion rescue package from the EU and the International Monetary Fund (IMF).
Mr Lenihan said consideration has been given to selling off the remainder of Aer Lingus, which the Government had been fighting to maintain for some time, while the future sell-off of the ESB is also being discussed.
Ireland's 25% stake in Aer Lingus are worth €150 million, while Government stakes in the Republic’s electricity board (ESB), gas board (Bord Gais) and the National Lottery licence may also be sacrificed to raise billions.
It's believed that the International Monetary Fund and the EU are pushing for the sale as part of the bailout agreements with the Government.
In a statement published last night, the IMF alluded to the asset sale, saying an aspect of Ireland's Recovery Plan needed “a strategy to remove potential structural impediments to enhancing competitiveness and creating new employment opportunities".
"It also details appropriate sectoral policies to encourage exports and a recovery of domestic demand, thereby supporting growth and reducing long-term unemployment."
Yesterday's statement added: “In recent years, Ireland has resolutely carried out bold policies in a very challenging environment, and I have confidence in its ability to implement this new program. Supported by substantial financing, this program can underpin market confidence and bring Ireland’s economy back on track."
Despite the potentially controversial nature of the plan, Fine Gael's finance spokesman Michael Noonan agreed that he would also advocate selling some state assets and would not rule out the sale of any particular agency, including the government's 25% stake in former flag carrier Aer Lingus.
(DW)
The news comes as the Government released the details of the €85 billion rescue package from the EU and the International Monetary Fund (IMF).
Mr Lenihan said consideration has been given to selling off the remainder of Aer Lingus, which the Government had been fighting to maintain for some time, while the future sell-off of the ESB is also being discussed.
Ireland's 25% stake in Aer Lingus are worth €150 million, while Government stakes in the Republic’s electricity board (ESB), gas board (Bord Gais) and the National Lottery licence may also be sacrificed to raise billions.
It's believed that the International Monetary Fund and the EU are pushing for the sale as part of the bailout agreements with the Government.
In a statement published last night, the IMF alluded to the asset sale, saying an aspect of Ireland's Recovery Plan needed “a strategy to remove potential structural impediments to enhancing competitiveness and creating new employment opportunities".
"It also details appropriate sectoral policies to encourage exports and a recovery of domestic demand, thereby supporting growth and reducing long-term unemployment."
Yesterday's statement added: “In recent years, Ireland has resolutely carried out bold policies in a very challenging environment, and I have confidence in its ability to implement this new program. Supported by substantial financing, this program can underpin market confidence and bring Ireland’s economy back on track."
Despite the potentially controversial nature of the plan, Fine Gael's finance spokesman Michael Noonan agreed that he would also advocate selling some state assets and would not rule out the sale of any particular agency, including the government's 25% stake in former flag carrier Aer Lingus.
(DW)
Related Irish News Stories
Click here for the latest headlines.
15 September 2011
Govt. To Sell Stake In ESB
The Coalition has confirmed that it will sell a minority stake in the State’s Electricity Supply Board (ESB). It is has been confirmed that the semi-state energy company will not be broken up. But it is not yet clear the percentage of the company to be sold or how much money will be raised.
Govt. To Sell Stake In ESB
The Coalition has confirmed that it will sell a minority stake in the State’s Electricity Supply Board (ESB). It is has been confirmed that the semi-state energy company will not be broken up. But it is not yet clear the percentage of the company to be sold or how much money will be raised.
12 September 2011
No Decision On State Asset Sales, Says Rabbitte
The Irish Government must draw up a list of state owned assets by a deadline set by the country’s troika of lenders. Ireland's Energy Minister Pat Rabbitte has revealed that The European Union (EU), the International Monetary Fund (IMF) and the European Central Bank are urging the government to create a list of state assets worth €5bn.
No Decision On State Asset Sales, Says Rabbitte
The Irish Government must draw up a list of state owned assets by a deadline set by the country’s troika of lenders. Ireland's Energy Minister Pat Rabbitte has revealed that The European Union (EU), the International Monetary Fund (IMF) and the European Central Bank are urging the government to create a list of state assets worth €5bn.
30 July 2013
Sinn Féin Condemn Govt Plan To Sell Bord Gáis
A government plan to sell Bord Gáis Energy has been condemned by Sinn Féin minister for communications, energy and natural resources. Following the publication of legislation, Deputy Michael Colreavy said: "The sale of Bord Gáis Energy is a very disappointing move by the government which is following the austerity agenda by the Troika.
Sinn Féin Condemn Govt Plan To Sell Bord Gáis
A government plan to sell Bord Gáis Energy has been condemned by Sinn Féin minister for communications, energy and natural resources. Following the publication of legislation, Deputy Michael Colreavy said: "The sale of Bord Gáis Energy is a very disappointing move by the government which is following the austerity agenda by the Troika.
30 January 2015
Access And Jobs Key In Govt Decision Over Aer Lingus Sale
Access and jobs will be key factors in the government's decision on whether or not to accept an Aer Lingus takeover bid by IAG, Minister for Transport Paschal Donohoe has said. The Aer Lingus board said earlier this week it was willing to recommend the acceptance of the latest offer from IAG.
Access And Jobs Key In Govt Decision Over Aer Lingus Sale
Access and jobs will be key factors in the government's decision on whether or not to accept an Aer Lingus takeover bid by IAG, Minister for Transport Paschal Donohoe has said. The Aer Lingus board said earlier this week it was willing to recommend the acceptance of the latest offer from IAG.
29 September 2011
Govt In 'Fairyland', Say SF
A call has been made for the State’s energy companies to be "safe-guarded" and used to re-grow the economy – not sold off. Sinn Fein (SF) has accused the Government of "short-sightedness" after announcements this week that more assets will be sold in addition to the minority stake in the ESB already announced.
Govt In 'Fairyland', Say SF
A call has been made for the State’s energy companies to be "safe-guarded" and used to re-grow the economy – not sold off. Sinn Fein (SF) has accused the Government of "short-sightedness" after announcements this week that more assets will be sold in addition to the minority stake in the ESB already announced.
-
Ireland WeatherToday:A rather cloudy morning, with a little patchy light rain or drizzle to start. Skies clearing and becoming dry and increasingly sunny in the afternoon. Maximum temperature 13 °C.Tonight:Dry with prolonged clear spells through the evening and overnight. This will allow for some fog patches to develop in places overnight. Minimum temperature 2 °C.
