What happens if ireland gets bailed out

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Team or Enterprise Premium FT. Pay based on use. Does my organisation subscribe? Bail is based on the principal that the accused is presumed innocent until proven guilty. A person may be required to lodge money as part of their bail. Station bail: A person arrested and brought to a Garda station can be charged by way of charge sheet and released on station bail to appear before a court at a specific date and time. They may be required to lodge money before being released from Garda custody.

District Court bail: When a person is brought before the court, the judge may release them on bail and set conditions attached to the bail. The person may be required to lodge money before being released from court. Listen now wherever you get your podcasts. Newsletters : Sign Up. Partner Publications. The latest Irish and international sports news for readers and members.

A platform helping fund the type of in-depth journalism that the public wants to see. Is he right? The banks were not bailed out. Shareholders in the banks were not bailed out; the State took equity. The shareholders were not bailed out. Doing nothing was not an option. The Department of the Taoiseach was contacted for comment. Additional reporting by Ian Curran. Short URL. About the author:. Stephen McDermott. See more articles by Stephen McDermott. Contribute to this story: Send a Correction.

Read next:. Embed this post. Your Email. Recipient's Email. Without this external support, the State would not be able to raise the funds required to pay for key public services for our citizens and to provide a functioning banking system to support economic activity. This support is also needed to safeguard financial stability in the euro area and the EU as a whole. The Programme builds on the bank rescue policies that have been implemented by the Irish Government over the past two and a half years and on the recently announced National Recovery Plan.

Details of the measures are set out in the accompanying Notes for Editors. The Programme lays out a detailed timetable for the implementation of the measures contained in the National Recovery Plan. The conditions governing the Programme will be set out in the Memorandum of Understanding and the Government will work closely with the various bodies to ensure that these conditions are met.

The funding will be provided in quarterly tranches on the achievement of agreed quarterly targets. The Programme has two parts — the first part deals with bank restructuring and reorganisation and the second part deals with fiscal policy and structural reform. The requirement for quarterly progress reports covers both parts of the programme. When the documentation on the Programme is finalised, it will be laid before the Houses of the Oireachtas. Bank Restructuring and Reorganisation The Programme for the Recovery of the Banking System will be an intensification of the measures already adopted by the Government.

The programme provides for a fundamental downsizing and reorganisation of the banking sector so it is proportionate to the size of the economy. It will be capitalised to the highest international standards, and in a position to return to normal market sources of funding.

This analysis is based on a more cautious growth outlook in and and the need to service the cost of additional bank recapitalisations envisaged under the programme.

The Council has today extended the time frame by 1 year to