Menu
17/02/2009
First Time Buyers Get €2bn Loan Fund
Ireland's two largest banks are to announce a €2 billion fund today to provide credit for those trying to get on to the housing market.
Provision of the fund has been incorporated into the Government's €7 billion recapitalisation plan for AIB and Bank of Ireland.
The Government hopes the massive cash injection of taxpayer money will help stimulate the property market, and lead to the start of a recovery.
The two institutions are required to increase lending capacity to first-time buyers by 30%.
The announcement comes the ongoing historic banking scandal involving the two banks compounds Ireland's recessionary woes.
Speaking during an interview last week, the Finance Minister Brian Lenihan said: "I've been trying to repair this since last September and I have to say that while I've received some public anger over budgetary decisions I understand that I haven't had any public anger in relation to what has to be done about the banks because this is a battle for financial stability and survival."
(DW/BMcC)
Provision of the fund has been incorporated into the Government's €7 billion recapitalisation plan for AIB and Bank of Ireland.
The Government hopes the massive cash injection of taxpayer money will help stimulate the property market, and lead to the start of a recovery.
The two institutions are required to increase lending capacity to first-time buyers by 30%.
The announcement comes the ongoing historic banking scandal involving the two banks compounds Ireland's recessionary woes.
Speaking during an interview last week, the Finance Minister Brian Lenihan said: "I've been trying to repair this since last September and I have to say that while I've received some public anger over budgetary decisions I understand that I haven't had any public anger in relation to what has to be done about the banks because this is a battle for financial stability and survival."
(DW/BMcC)
Related Irish News Stories
Click here for the latest headlines.
15 December 2008
Banks Bailed Out
Around €10 billion is to be pumped into the Irish Republic's banking system by the Government in a bid to recapitalise all its listed banks. The money will be available to AIB, Anglo-Irish, Irish Nationwide, Irish Life & Permanent and Bank of Ireland, which owns the Bristol & West Bank.
Banks Bailed Out
Around €10 billion is to be pumped into the Irish Republic's banking system by the Government in a bid to recapitalise all its listed banks. The money will be available to AIB, Anglo-Irish, Irish Nationwide, Irish Life & Permanent and Bank of Ireland, which owns the Bristol & West Bank.
01 August 2012
Ratification Of ESM Treaty Puts Ireland On A Firmer Footing - English
Welcoming the beginning of the process to ratify the European Stability Mechanism Treaty, which starts today (Wednesday), Fine Gael Meath West Deputy, Damien English, said access to Europe's permanent bailout fund gives Ireland enhanced financial security into the future.
Ratification Of ESM Treaty Puts Ireland On A Firmer Footing - English
Welcoming the beginning of the process to ratify the European Stability Mechanism Treaty, which starts today (Wednesday), Fine Gael Meath West Deputy, Damien English, said access to Europe's permanent bailout fund gives Ireland enhanced financial security into the future.
28 February 2024
Gaming Business Ideas To Start In Ireland
Are you passionate about gaming and considering turning your hobby into a profitable business in Ireland? You're in luck! The gaming industry is booming, and many opportunities are waiting for you. Here are ten gaming business ideas that could be your ticket to success in this exciting field. 1.
Gaming Business Ideas To Start In Ireland
Are you passionate about gaming and considering turning your hobby into a profitable business in Ireland? You're in luck! The gaming industry is booming, and many opportunities are waiting for you. Here are ten gaming business ideas that could be your ticket to success in this exciting field. 1.
17 November 2010
Bail-Out Looms As EC Comes To Dublin
It has emerged that the Finance Minister Brian Lenihan has agreed to emergency EU bank funding as a number of EU officials make their way to Ireland. Despite stopping short of accepting a full bailout, Mr Lenihan has admitted for the first time the State's banks may need billions more of capital to stay afloat.
Bail-Out Looms As EC Comes To Dublin
It has emerged that the Finance Minister Brian Lenihan has agreed to emergency EU bank funding as a number of EU officials make their way to Ireland. Despite stopping short of accepting a full bailout, Mr Lenihan has admitted for the first time the State's banks may need billions more of capital to stay afloat.
24 November 2010
Irish Credit Downgraded By Agency
Ireland's difficulties seem to worsen by the hour as Standard & Poor's announce they are downgrading the State's international credit rating and placing its banks on "CreditWatch". The news comes just after another international ratings agency, Moody's, announced it would be slashing Ireland's credit rating, following the news of the Irish bailout.
Irish Credit Downgraded By Agency
Ireland's difficulties seem to worsen by the hour as Standard & Poor's announce they are downgrading the State's international credit rating and placing its banks on "CreditWatch". The news comes just after another international ratings agency, Moody's, announced it would be slashing Ireland's credit rating, following the news of the Irish bailout.
-
Ireland WeatherThis Evening and Tonight:Showers will gradually die out during the evening. A cold night with long clear spells leading to a touch of frost in places. Light winds. Minimum temperature 0 °C.
