Search

Turkey recorded the best rate of economic growth of the developed countries in early 1993. Alongside the growth came an inflation rate of more than 50%. The economic growth was attributed to President Turgut Ozal's policies of co-operation with western powers. Turkey faces several problems in the 1990's, including its relationship with its Kurdish residents, links with the EC and some economic difficulties.

The European Central Bank has announced a [pounds sterling]10bn lifeline to help shore up Ireland's banks system just hours after a sharp credit-rating downgrade threatened to undermine confidence in the [...]

Ireland has to rethink its abortion laws after the European Court of Human Rights on Thursday ruled that it had violated the rights of a woman with a rare form [...]

Northern Ireland has agreed an outline budget, the last of the UK's devolved regions to do so, although three parties in the power-sharing executive failed to back the plan. The [...]

News analysis Public pressure and severity of the crisis help government stance on bonuses, write Sharlene Goff and John Murray Brown Vince Cable must be eyeing with envy the decisive [...]

Brian Lenihan, Ireland's finance minister, is giving himself sweeping new powers to restructure the country's banking industry, including provisions that ensure burden-sharing by subordinated bondholders, writes John Murray Brown. The [...]

banks News analysis The lender will lose state support if it pays staff bonuses, write Sharlene Goff and John Murray Brown As governments around the world scramble to negotiate workable [...]

Brian Lenihan, Ireland's finance minister, is giving himself sweeping new powers to restructure the country's battered banking industry, including provisions that ensure appropriate burden sharing by subordinated bondholders, writes John [...]

banks Allied Irish Banks, which has already received [euro]3.5bn ($4.7bn) in state aid, has been forced to drop plans to pay [euro]40m in bonuses to 2,500 staff, after Brian Lenihan, [...]

Finance minister warns over taxpayer support Allied Irish Banks, which has already received [euro]3.5bn ([pounds sterling]3bn) in state aid, has been forced to drop plans to pay [euro]40m in bonuses [...]

BANKS News analysis Ireland's 'liability management' strategy is being closely watched, say Jennifer Hughes, Anousha Sakoui and Sharlene Goff Bank of Ireland's junior bondholders must this week decide whether to [...]

Lenders took [euro]136bn from ECB Irish banks borrowed nearly 30 per cent more emergency funding from their central bank last month compared with October and increased their reliance on the [...]

banks Lender says it must honour contracts Opposition to call for 99% super tax Allied Irish Banks, the bailed out Irish lender, was under fire from politicians and senior business [...]

banks Irish lender says it is obliged to pay Move comes despite state aid of [euro]3.5bn Allied Irish Banks faced criticism on Thursday after it emerged that staff are to [...]

Brian Cowen, Ireland's embattled prime minister, said on Wednesday he would lead his Fianna Fail party into the general election in the new year, robustly defending his record as ministers [...]

Spending cuts and tax increases [euro]6bn in savings planned for 2011 Brian Lenihan, Ireland's finance minister, an-nounced a 'substantial downpayment on the journey back to economic health', as he slashed [...]

Fianna Fail The presentation of the budget on Tuesday marked the beginning of the race to succeed Brian Cowen as leader of the ruling Fianna Fail party, even though the [...]

Region needs a 'more integrated' strategy The managing director of the International Monetary Fund has called on European leaders to devise a more comprehensive solution to the eurozone debt crisis [...]

Independent vows to 'put country first' Key condition of [euro]85m bail-out Fears that Ireland may not be able to pass its budget today appeared to have receded after the Fianna [...]

Support for Fianna Fail, the senior partner in Ireland's ruling coalition, has slumped to less than a third of the level it enjoyed at the 2007 general election. The first [...]

Ireland rescue Brian Lenihan, Irish finance minister, made clear that the European Central Bank had opposed all proposals that senior bondholders at Irish banks should bear some of the cost [...]

banks Nama was a flawed idea, says report 'Body led to [euro]85bn bail-out by EU' The Irish government's attempt to rescue its banks by taking over their impaired property loans [...]

Debt offers Junior bondholders in Irish banks are expected to suffer heavy losses on their investments even though senior debt was protected in the weekend bail-out plans. Prices of some [...]

Concessions Ireland refrained from taking action against private investors in its banks that could have sent further shocks across the eurozone in exchange for the European Central Bank continuing 'a [...]

A fund set up to finance public service pensions for those retiring a decade from now is to be used to supplement the bail-out provided by the International Monetary Fund [...]

Brian Cowen, Irish prime minister, has claimed the bail-out was the 'very best that is achievable for our country'. Mr Cowen said fixing the banks was 'hugely important for everyone [...]

A fund set up to finance public service pensions for those retiring a decade from now is to be used to supplement the bail-out provided by the International Monetary Fund [...]

European Union finance ministers last night signed off an [euro]85bn ([pounds sterling]72.5bn) bail-out package for Ireland and approved the outlines of a permanent mechanism for dealing with future debt crises [...]

EU set to agree on [euro]85bn package Irish leaders debate bondholder losses European Union finance ministers looked set on Sunday to agree to a bail-out package worth [euro]85bn for Ireland [...]

Budget is 'against pension policy' Meeting sought with government Irish government plans to make budget savings by cutting the tax relief on pension contributions have been attacked by Irish Life. [...]

Enda Kenny, leader of Fine Gael, Ireland's main opposition party, has contacted the heads of the International Monetary Fund and the European Commission to seek assurances that as part of [...]

Fianna Fail concedes defeat Budget's fate rests on independents The Irish government's chances of winning next month's key budget vote were dealt a further blow as Fianna Fail, the senior [...]

Fiscal adjustment Ireland's two main opposition parties, which are likely to form the next government early in the new year, signalled on Thursday that they would seek to renegotiate the [...]

Concerns focus on risk to Spain and Portugal Four-year package of tax rises and spending cuts Ireland's government ann-ounced sharp public spending cuts and tax rises to dry out its [...]

Austerity drive Drastic cuts set the stage for [euro]85bn rescue by EU and IMF, write Tony Barber and John Murray Brown Ireland will cut welfare expenditure, slash the minimum wage, [...]

Political fallout Brian Cowen, the Irish prime minister, may have announced a four-year plan for recovery but there is little likelihood he will be in power to implement the bulk [...]

Fianna Fail lawmakers met on Tuesday night for what one critic of Brian Cowen predicted would be a 'bare knuckle affair', although the meeting reportedly broke up without Ireland's ruling [...]

Operations Deep restructuring is how Patrick Honohan, the central bank governor, describes what lies in wait for the Irish banking sector following the bail-out. However, the day-to-day operations of all [...]

The big squeeze Deep restructuring is how Patrick Honohan, the central bank governor, describes what is in store for the Irish banking sector as part of the bail-out terms imposed [...]

British loans Britain is expected to lend Ireland between [pounds sterling]7bn and [pounds sterling]9bn ($11bn-$14bn) as a solidarity gesture to a 'friend in need', but George Osborne, chancellor of the [...]

Banks set to receive [euro]20bn new capital Concern to protect taxpayers' interests Politicians and regulators said they would demand widespread payback for recapitalising Ireland's banking sector on Monday, as a [...]

Banks set to receive [euro]20bn new capital Concern to protect taxpayers' interests Politicians and regulators said they would demand widespread payback for recapitalising Ireland's banking sector on Monday, as a [...]

Brian Cowen, Irish prime minister, defied calls for a snap election, but said he would trigger a poll in the new year after passing an emergency Budget designed to stave [...]

Britain set to offer loans of [pounds sterling]7bn-[pounds sterling]9bn Tories warn against propping up euro Britain is set to offer Dublin between [pounds sterling]7bn and [pounds sterling]9bn in loans but [...]

PM's speech Brian Cowen attempted to strike a statesman-like tone on Monday, invoking the 'national interest' to justify his decision to defy calls to resign immediately. The embattled Irish prime [...]

The Irish government's fragile coalition showed signs of cracking, amid a volatile market reaction to its decision to seek a multibillion-euro rescue from the European Union and the International Monetary [...]

Cost cutting Outdated work practices, benefits and allowances in Ireland's public sector are expected to be targeted in any bail-out deal with the European Union and International Monetary Fund. Irish [...]