Ireland plans to apply for OMT, but not yet - finance minister
February 21, 2013 11:28 PM EST
Ireland plans to apply for the European Central Bank's bond purchase plan, dubbed Outright Monetary Transactions (OMT), but is not ready to do so yet, its finance minister Michael Noonan said on Thursday.
"The OMT arrangement is an option, in due course, which we will probably apply for, but we have no plans to do so yet," Noonan told a Bloomberg event in London.
The ECB has said countries have to be within a support programme but have a normal level of access to bond markets to qualify for the OMT. It has said it would buy debt of up to three-year maturities on the secondary market under the plan.
Noonan also said that Ireland does not intend to bring in a tax on financial transactions and is talking to its Troika lenders about the timing of new stress tests for Irish banks.
(Reporting by Marc Jones and Toni Vorobyova)
Most Popular Slideshows
- Real Life ‘Frozen’: Snow Overwhelms The US, Kills 7; More To Come (Pictures)
- ‘The Walking Dead’ Season 5, Episode 8 Spoilers: Daryl Dixon Is Set To Burn The Place Down in ‘Coda’
- Angelina Jolie, Brad Pitt in Sydney for ‘Unbroken’ Red Carpet Premiere [PHOTOS]
- G20 Summit Awkward Moments: Putin Yawns, Mystery Bubbles Appear, F18 Drama Ensues
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- Walmart Early Price Matching Special Event On Nov. 21, 2014 Matches Its Competitors' Black Friday 2014 Prices And Includes Exclusive Deals For Samsung LED HDTVs And iPad Air 2 [WATCH VIDEO]
- US Plane Flying Over Russian Skies Spotted; Vladimir Putin Ready For 'Practical Cooperation' With US
- Walmart Pre-Black Friday 2014 Sale On Nov. 21, 2014 Includes Discounts On The 'NBA 2K15' For PS4 And The 'Skylanders Trap Team’ Starter Kit [WATCH VIDEO]
- Alleged 'Microsoft Lumia 1030' Front Panel Leaked With Capacitive Buttons; 'Xbox One' Owners To Get Free Goodies On Anniversary
- Black Friday 2014 Sale: Top Deals On Game Consoles Xbox One, PS4, Nintendo Wii U And More
- Nexus 6 Release Date And Price Under AT&T, T-Mobile And Sprint Listed
- Cold War 2: Russia, China And North Korea’s Blacklisted Company Fortify Alliance -- Reports