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SECOND BAILOUT MAY BE IMMINENT

Euro banknotes

Credit rating agency Moodys has said that Ireland may face the need for a second bailout once the current bailout taken through the IMF/EU runs out at the end of 2013. The agency warned that Ireland might have difficulty regaining access to the European market once that deal expires. In that case, it said, Ireland may have to rely, at least partially, on funding from the European Stability … [Read more...]

FORMER ANGLO DIRECTOR ARRESTED

The former finance director of Anglo Irish Bank William (Willie) McAteer was arrested yesterday, as part of an investigation by the "fraud squad" into irregularities in the bank's practices. Gardaí confirmed that Mr. McAteer was being questioned by detectives in Irishtown Garda Station in Dublin after being arrested yesterday morning. The arrest was made in relation to an inquiry currently … [Read more...]