Anglo Irish Bank bailout “affordable” says governor

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first_img Tags: NULL Anglo Irish Bank bailout “affordable” says governor Monday 16 August 2010 6:13 am IRELAND’S bailout of Anglo Irish Bank which is partly behind the country’s soaring budget deficit, is “costly but manageable,” Ireland’s Central Bank Governor Patrick Honohan has said.Honohan, who is also the European Central Bank’s rate setter, reiterated the country’s budget deficit would be around 20 per cent of its annual GDP this year despite continuing troubles at the bank, which is receiving extra state aid.“It’s a terrible shock to the system. It’s costly but it’s manageable,” Honohan said during a speech in Hong Kong.The European Union last week approved plans for up to 10 billion euros (£8.19bn) of state aid for Anglo Irish, and Honohan said that plans to recapitalise the bank were well on track and had little impact on the government’s overall deficit plans.Honohan had said Ireland remained committed to its target of reducing its budget deficit to three per cent of gross domestic product by 2014.But this year its budget deficit is not going down but up.“It’s a very high deficit measured this year because we’re taking the hit, we’re acknowledging the losses in the banking system and those losses which are being paid for by the government have to be included in the deficit,” he said. whatsapp whatsapp Sharecenter_img John Dunne by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMoneyWise.com15 States Where Americans Don’t Want To Live AnymoreMoneyWise.cominvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.com More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Show Comments ▼ last_img read more

BHP fights for a Potash deal

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first_img Share BHP fights for a Potash deal KCS-content whatsapp Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndocenter_img BHP BILLITON faces a crucial week in its fight to buy Potash Corp, with the Canadian government and US courts deciding whether to allow its $39bn (£24.7bn) hostile offer to proceed.Potash attempted to goad BHP into raising its $130 a share bid at the weekend in a Canadian court filing, claiming it was “very likely” that the FTSE 100-listed firm would increase its offer given that Potash shares were trading at $147.32 on Friday. Potash also claimed that it “has engaged in discussions with 15 strategic, financial and state-sponsored potential bidders or investors.” A Potash spokesperson declined to comment further yesterday, though more details could emerge when the firm appears in an Illinois court as part of its lawsuit against BHP on Thursday. A Sunday newspaper also reported yesterday that BHP would sweeten its deal by around 10 per cent once it has cleared the looming regulatory hurdles. BHP declined to comment on whether or when it would raise its bid.Canadian authorities have until Wednesday to either block or allow BHP’s takeover offer, depending on whether it sees an economic benefit for the country. The government in Saskatchewan, where Potash is based, has opposed the deal, but several sources have claimed the federal government will give the green light. BHP continues to seek a cease trading order on Potash’s new shares, which it issued in September as part of a “poison pill” defence. Potash said it diluted BHP’s share holding to give it time to find alternative bids, and continues to fight the case with the Saskatchewan Financial Services Commission. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp Sunday 31 October 2010 11:31 pm Tags: NULLlast_img read more