Bank Of Ireland Share Discussion Threads

[deb81e] 16/10/2013 17:54

Noonan insists ESM money for banks still possible

Minister is not concerned as he feels Schäuble 'left door open' for funding to be used Minister for Finance Michael Noonan has insisted the door has not been shut on the State's hopes of the ESM providing funds to directly recapitalise the Irish banks.
German finance minister Wolfgang Schäuble yesterday said retroactive direct recapitalisation for Ireland was "not probable" and he did not "see any necessity" for such a measure as Ireland was doing very well.
Speaking on RTE Radio's Today programme, Mr Noonan said he did not feel the door was closed as Mr Schäuble used the term "probable" and that he was playing to an audience as Germany sought to form a new government.
"I'm not [concerned] as I actually felt he left the door open," he said. "To quote the phrase that he used it's more keeping the door open than closing it...he used the word probable."
Mr Noonan said the door had allegedly been closed on the State securing a deal on the Anglo Irish Bank promissory notes, Ireland getting lower interest rates on the bailout and on an extension on debt maturities but both had been achieved.
"He does a form of negotiation across the airwaves and I'm not sure which audience he was talking to yesterday but he was not talking to the Irish. He was talking to the prospective partners in government."
The Minister was not prepared to say recapitalisation would happen but said he would be "negotiating on all fronts to get a reduction on the debt level in Ireland."
He said the State would reduce its debt level from 124 per cent of GDP to 114 per cent by 2016 and that sales of bank preference shares would help further.
"We still in a position to negotiate support from Europe so our debt can move down towards the European average."
Mr Noonan and Minister for Public Expenditure Brendan Howlin were appearing on the programme to discuss yesterday's budget.
Changes to discretionary medical card criteria have frequently been alleged in recent weeks but Mr Howlin said this was not the case. He said people should not lose cards unless their income was well in excess of guidelines governing the area.
One caller, Stella, said she had two sons with cerebral palsy and other needs and that both had lost their entitlements since September after having a medical card for many years.
She said she worked part time, her husband worked full time and that the family was completely dependent on the card. She said she felt let down by the Government.
Mr Howlin said he did not know the family's circumstances but that there had "genuinely" been no change to eligibility criteria. The caller said the only change had been her family's income had been reduced.
Mr Howlin said the Government had to ensure the €2 billion annual spend on medical cards went to people who needed them and that he believed the caller's sons should be entitled to one on medical grounds alone.
The Ministers defended a decision to cut jobseekers allowance for young people, with Mr Howlin saying it was a deliberate policy not to allow people to migrate from school on to the dole as happened in the 1980s.
He said a claim that a young jobseekers had been told by a social welfare official to move to Canada was likely a case of someone answering a question and trying to be helpful.

hxxp://www.irishtimes.com/news/politics/noonan-insists-esm-money-for-banks-still-possible-1.1562772

[t 34] 16/10/2013 16:57

What is that this noonan rumour ????

[cricklewood] 16/10/2013 15:40

hxxp://www.irishtimes.com/news/politics/noonan-insists-esm-money-for-banks-still-possible-1.1562772

You have to copy and paste in to your browser.

[cruiser70] 16/10/2013 14:38

Nice day here for sure maybe due to this? Anybody got an opinion? hxxp://static.rasset.ie/news/business/morningrep/download/2013/1016investec.pdf

Just tested that link doesn't work, go to rte.ie and have a look at broker notes and read Investec re Noonan rumour

[kemorkid] 16/10/2013 12:09

I would love that to happen.
Long term these are a no brainer and will be buying every month for my pension.

KK

[red army] 16/10/2013 12:03

Kemorkid

It needs to close above 25c for that and then 40c for Xmas is on the cards with the prospects of raising cash to bring about a pullback IMHO.

[cricklewood] 16/10/2013 11:18

Ya Cruising nicely north LOL

[kemorkid] 16/10/2013 09:54

this a breakout red army ???

[cricklewood] 15/10/2013 16:53

who do you think I am Mystic Meg ?


LOL



hxxp://www.rte.ie/news/business/markets/iseq/

[cruiser70] 15/10/2013 14:03

Crickle, glad to hear it. So how do you think they are going to pay for the Govt pref shares before March?

[red army] 15/10/2013 12:05

A critical time for the share price as it flirts with the 24c resistance
Double top or breakout only days away.

[cricklewood] 15/10/2013 08:47

Why anyone would want to keep their money on deposit in Republic of Ireland must be a complete fool, move north my friends.


hxxp://www.irishtimes.com/news/politics/noonan-to-announce-range-of-harsh-cuts-in-budget-1.1560769


Dirt tax on savings interest to be increased from 33 per cent to 41 per cent, yielding €100 million to the State;


hxxp://www.citizensinformation.ie/en/money_and_tax/tax/tax_on_savings_and_investments/deposit_interest_retention_tax.html

[cricklewood] 15/10/2013 08:10

Did I say you ?, I said anybody and there is always someone who will try and stick the knife in when the share price drops a bit thinking they are going to make a killing on the rebound ,I can see a huge upside here considering BKIR also control the very profitable british post office bank.

[cruiser70] 14/10/2013 21:52

Crickle,

I posted here the day I sold my position and posted my reasonings. But as a trader I always want to hear the other side in case my thesis is wrong. Please don't take my wanting to hear your opinion as deramping, it is not intended that way.I'm been on this board for a longtime and have never been accused of anything like that.

If you have no opinion other than it has to go up because you are long then that's fine just say that.

[cruiser70] 14/10/2013 17:59

Ok Crickle, how do you believe bank are going to pay off Govt pref shares before March? I believe through a rights issue.I believe when the issue price is announced the share price will gravitate towards the RI price.

This is my opinion so what is yours? Let's share info and try be gentleman like about it

[johnbuy] 14/10/2013 17:15

Double top. I'll buy back at 10c.

[benchmark] 14/10/2013 16:36

Why are you not concerned Cricklewood? Is it that you don't think there is a rights issue on the way or do you think it wouldn't effect the share price?

[cruiser70] 14/10/2013 16:13

Am I the only one concerned about the effect a rights issue will have on the price here? What am I missing?

[cricklewood] 14/10/2013 09:41

UP UP AND AWAY.

[johnbuy] 14/10/2013 09:04

Down, Down, Deeper and Down.......

[cricklewood] 13/10/2013 08:29

I wont be selling in a hurry, last chance go get in cheap imho.





hxxp://seekingalpha.com/currents/post/1325402?source=email_rt_mc_readmore

[hunter321] 11/10/2013 12:08

This looks like its off on its merry way again

[kemorkid] 11/10/2013 12:00

Good man Cricklewood positive vibs.
I actually agree with your 80p in the long term.