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
- Flight MH17 Attack: Russians Claim 'Putin A Terrorist,' Memorial at Dutch Embassy Overflows [PHOTOS]
- Typhoon Rammasun Claims 18 Lives in China, Incurs $4.32B Losses (PHOTOS)
- Ellen DeGeneres Caught Cheating with Mutual Friend Before Portia de Rossi’s Rehab – Reports [PHOTOS]
- Malaysia Airlines MH17: Vital Black Boxes Finally Land in Hands of Malaysian Authorities, Rebels Announce Ceasefire (PHOTOS/VIDEOS)
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
- Samsung Galaxy Note 4 Apps Leak Online, Five Fresh Features to Expect from the Android Smartphone
- Moto 360 Price Speculations, Key Features, Strategic Release Date, Design: A Watch That is More Than Just Time
- Windows Phone 8.1 Update Rollout: 20 Nokia Lumia Phones Eligible and 13 New Features to be Added
- Three New Moto G Successors Spotted in FCC Document Dubbed Moto G2, Moto M and More --Reports
- HTC Google Nexus 8 Release Date Imminent with New Nexus 7 Deals, Two New Tablets Soon
- iPad Air 2 Release Date Will Skip IGZO Panel; To Rollout with Super-Slim iPad Mini Air
- Upcoming iPad Mini 3 Could be 30% Thinner and Likely be Called iPad Mini Air; Apple Q3 Results Show 9% Decrease in iPad Sales