The National Treasury Management Agency (NTMA) is responsible for borrowing money on Ireland's behalf. With the international markets closed to us till Late 2013 you might legitimately ask what they are doing with themselves in the Treasury Building, Dublin 4,these days. There is a new focus on attracting investment from the Irish people through their rang of bonds and savings products. The benefits of saving with the Irish State is that your money enjoys a full Government guarantee and returns are not subject to DIRT tax. They also run the prize bond scheme.
For further information visit your local post office or go to: http://www.statesavings.ie/Pages/default.aspx
FS
Showing posts with label NTMA. Show all posts
Showing posts with label NTMA. Show all posts
Sunday, 17 July 2011
Wednesday, 13 July 2011
Ireland's credit rating cut to Junk status
Moody's credit rating agency yesterday reduced Ireland's credit rating to junk status (Ba1 with a negative outlook) http://www.moodys.com/research/Moodys-downgrades-Ireland-to-Ba1-outlook-remains-negative?lang=en&cy=global&docid=PR_222257
Look back at a earlier post of mine 'Bonds, a beginners guide' for more information on what the credit rating means to us. They claim that it is due to the fact that Ireland will likely need a second bailout as they doubt we will be able to return to the bond market as planned in 2013. Ironically by moving our credit rating to this level we are even less likely to engender confidence from the markets.
Predictably the move has predictably been criticised by the ECB, NTMA, and government. Europe is getting mighty peeved with the ratings agencies who they believe have been less than helpful in ensuring the never ending Euro 'crisis' gets towards a resolution of sorts.
In future we may see a Euro bond, where any Eurozone member state can borrow based on the strength of Europe as a whole and not strictly based on the performance of their own individual economy.
FS
Look back at a earlier post of mine 'Bonds, a beginners guide' for more information on what the credit rating means to us. They claim that it is due to the fact that Ireland will likely need a second bailout as they doubt we will be able to return to the bond market as planned in 2013. Ironically by moving our credit rating to this level we are even less likely to engender confidence from the markets.
Predictably the move has predictably been criticised by the ECB, NTMA, and government. Europe is getting mighty peeved with the ratings agencies who they believe have been less than helpful in ensuring the never ending Euro 'crisis' gets towards a resolution of sorts.
In future we may see a Euro bond, where any Eurozone member state can borrow based on the strength of Europe as a whole and not strictly based on the performance of their own individual economy.
FS
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