Friday, November 26, 2010

Accelerated Timetable for Ireland Bailout Details

by Calculated Risk on 11/26/2010 05:38:00 PM

From the NY Times: Europeans Striving to Calm Nerves in Markets

[T]he team of European Union and International Monetary Fund specialists in Ireland was racing to complete terms of its financing package before markets reopen on Monday.
Looks like Sunday will be busy again.

And from the Irish Times: Reports that bailout will attract 6.7% rate rejected
The interest rate for a nine-year EU/IMF loan would be lower than the 6.7 per cent being quoted in some reports today, a source involved in the talks has indicated.
University College Dublin professor Karl Whelan earlier estimated an EFSF borrowing rate close to 6%: Borrowing Rates from The EFSF

And more stress tests are coming in Spain (from NY Times article):
In Spain, the central bank ... said it would carry out further stress tests to show ... financial institutions ... could absorb a “problematic exposure” of 180 billion euros, or $238 billion, to the country’s collapsed construction and real estate sectors.