Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

NoT Reported on RTE.........

Options
  • 11-03-2011 3:48pm
    #1
    gleep
    Registered Users Posts: 692 ✭✭✭


    Ireland's central bank lent banks based in the country 70 billion euros (60.3 billion pounds) in special funding at the end of February, a jump of 19 billion euros from the previous month, data showed on Friday. Skip related content



    Then central bank said over half of the increase in the special funding was due to a change in collateral rules at the European Central Bank which meant the banks temporarily relied on funding from their own central bank.
    The banks' reliance on funding from the European Central Bank eased to 116.9 billion euros from 126 billion euros at the end of January.
    Irish banks are reliant on central bank funding due to deposit outflows and their exclusion from interbank lending markets due to concerns about the sector's future.

    Surely this is worth reporting, no?


Comments

  • Options
    #2
    SBWife
    Registered Users Posts: 1,287 ✭✭✭SBWife


    I don't know what you are talking about. It's reported on the RTE website at 13.08 this afternoon.


  • Options
    #3
    gleep
    Registered Users Posts: 692 ✭✭✭gleep


    oh, didn't see it there, bit embarrased now!

    In fairness though, it is only reported in the Business section. There is no mention at all in the regular news, which is a bit of a puzzler. I mean, the CB is putting €70bn (2 years tax take!) EXTRA into the banks, to artificially inflate their balance sheets so that they pass a Eurozone stress test. This house of cards trick can only go on so long, it's obvious our troubles are mounting and we're in no way close to starting a recovery.
    But this isn't a nationally important as RTE shedding 60 jobs (with very generous redundancy I'd say) or Catholic schools having a chin-wag?
    Strange


  • Options
    #4
    SBWife
    Registered Users Posts: 1,287 ✭✭✭SBWife


    It is a business story - the net increase (including the reduction in direct borrowings from the ECB) is €9 billion. Which is a hefty amount but far off the 2 years tax take you mention. Perhaps on a slow news day it could be included in the main news, but too be fair to RTE today sure as hell ain't a slow news day.


  • Options
    #5
    andrew
    Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 3,368 Mod ✭✭✭✭andrew


    Thread locked. Please read the charter before posting on this forum. This forum is for discussing economic theory, not speculation about the news (unless that news is related closely to economic theory.)Also, please be aware that repeated breaches of charter can and will result in warnings and bans.


This discussion has been closed.
Advertisement