{"id":8309,"date":"2020-04-01T13:16:35","date_gmt":"2020-04-01T13:16:35","guid":{"rendered":"https:\/\/www.incirliseviye.com\/?p=8309"},"modified":"2020-04-01T13:16:35","modified_gmt":"2020-04-01T13:16:35","slug":"aid-for-irish-banks-approved","status":"publish","type":"post","link":"https:\/\/onhee.com\/?p=8309","title":{"rendered":"Aid for Irish banks approved"},"content":{"rendered":"<figure class=\"art\"><\/figure>\n<header>\n<h1>Aid for Irish banks approved<\/h1>\n<p class=\"subhead\">Anglo Irish and INBS to be given billions of euros as Commission launches investigation into support.<\/p>\n<\/header>\n<footer class=\"meta\">\n<p class=\"byline\">European Voice<\/p>\n<\/footer>\n<footer class=\"meta\">\n<p>\n\t\t\tBy\t\t\t<span class=\"byline\"><br \/>\n\t\t\t\t<span class=\"vcard\">Constant Brand<\/span>\t\t\t<\/span>\n\t\t<\/p>\n<p class=\"timestamp\"><time datetime=\"2010-03-31T22:17:00+00:00\">3\/31\/10, 10:17 PM CET<\/time><\/p>\n<p class=\"updated\">Updated <time datetime=\"2014-04-12T19:20:29+00:00\">4\/12\/14, 7:20 PM CET<\/time><\/p>\n<\/footer>\n<p>The European Commission yesterday gave the Irish government permission to provide billions of euros in aid to two banks, in order \u201cto preserve financial stability in Ireland\u201d. It also announced an investigation into all state support provided to the larger of the banks, Anglo Irish.&nbsp; <\/p>\n<p>Joaqu\u00edn Almunia, the European comissioner for competition, said there was \u201cno doubt\u201d that Anglo Irish and Irish Nationwide Building Society (INBS) needed \u201csignificant recapitalisation\u201d to survive. The Irish government is injecting \u20ac2.7 billion into INBS and \u20ac10.44bn into Anglo Irish. <\/p>\n<p>In both cases, approval for the \u2018emergency aid\u2019 applies until June. They were told to submit restructuring plans, by the end of May in Anglo Irish\u2019s case and by 22 June in INBS\u2019s. <\/p>\n<p>Almunia singled out Anglo Irish for particular attention, saying that it \u201chas to restructure profoundly in a way that effectively tackles the weaknesses of the past business model and ensures a sustainable future without continued state support\u201d. <\/p>\n<p>Most of the latest \u20ac10.44bn in aid to Anglo Irish \u2013 \u20ac8.3bn \u2013 is meant to cover costs incurred last year and through to the end of March. The remaining \u20ac2.1bn is contingency funding. <\/p>\n<p><H3>Investigation into state aid <\/H3><\/p>\n<p>At the same time, Almunia announced that the Commission is opening an in-depth investigation into all state aid provided to Anglo Irish. This is the second tranche of state aid to Anglo Irish that the Commission has approved: last year it allowed the Irish government to inject \u20ac4bn into the bank. <\/p>\n<p>The Commission probe will focus on whether the bail-out aid given to the bank by the Irish government so far gives it a competitive edge over rivals. <\/p>\n<p>If the aid is found to have violated EU rules, Anglo Irish could be forced to return the money to the state. <\/p>\n<p>The continuing difficulties that Anglo Irish faces were highlighted a day before the announcement of the investigation, when Brian Lenihan, Ireland\u2019s finance minister, said that, to stay afloat, Anglo Irish may need another \u20ac10bn on top of the \u20ac14.4bn in aid that the Commission has approved. <\/p>\n<p>Lehihan and Alan Dukes, the chairman-designate of Anglo Irish, have both said the sums needed are small compared to the cost of shutting down the bank entirely. <\/p>\n<p>A Commission spokesman said the Irish authorities have yet to contact EU regulators with any request for clearance for the additional \u20ac10bn in aid proposed on Tuesday (30 March). <\/p>\n<p>Anglo Irish lost \u20ac12.7bn in 2009. <\/p>\n<\/p>\n<footer class=\"content-credits\">\n<h6>Authors:<\/h6>\n<dl class=\"vcard\">\n<dt class=\"credits-author\"><span class=\"vcard\">Constant Brand<\/span>&nbsp;<\/dt>\n<\/dl>\n<\/footer>\n<p>Click Here: <a href='https:\/\/www.nrlshops.com\/Others-Countries-Nrl\/FIJI' title='Cheap FIJI Rugby Jersey'>Cheap FIJI Rugby Jersey<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aid for Irish banks approved Anglo Irish and INBS to be given billions of euros as Commission launches investigation into support. European Voice By Constant Brand 3\/31\/10, 10:17 PM CET Updated 4\/12\/14, 7:20 PM CET The European Commission yesterday gave the Irish government permission to provide billions of euros in aid to two banks, in &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/onhee.com\/?p=8309\" class=\"more-link\">Read more<span class=\"screen-reader-text\"> &#8220;Aid for Irish banks approved&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8309","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/onhee.com\/index.php?rest_route=\/wp\/v2\/posts\/8309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/onhee.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/onhee.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/onhee.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/onhee.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8309"}],"version-history":[{"count":0,"href":"https:\/\/onhee.com\/index.php?rest_route=\/wp\/v2\/posts\/8309\/revisions"}],"wp:attachment":[{"href":"https:\/\/onhee.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/onhee.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/onhee.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}