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iShares MSCI Ireland Capped ETF (EIRL)

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  • Mar. 23, 2012, 10:52 AM
    Ireland is optimistic it will ink a deal with the ECB over the weekend to skip a €3.1B cash payment to one of its failed banks. The country instead hopes to print up a bond to give to the bank. The bank will then present said bond to the ECB as collateral to borrow €3.1B (or thereabouts). We remain dizzy. (earlier)
    | 3 Comments
  • Mar. 22, 2012, 9:18 AM
    Austerity poster-boy Ireland slipped back into recession at 2011's end, as sliding exports had GDP shrinking 0.2% in Q4 following Q3's 1.1% decline. For all 2011, GDP increased 0.7%, ending 3 consecutive years of contraction.
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  • Mar. 21, 2012, 3:10 PM
    Ireland's central bank chief is set to ask ECB permission to delay a €3.1B payment due this month on a promissory note. The money is to go to Anglo Irish Bank, which can then buy Irish debt which it can then present to the ECB as collateral for funding with which it can then reduce its borrowings from the Irish central bank. We're getting dizzy.
    | 10 Comments
  • Mar. 20, 2012, 9:05 AM
    The Irish referendum on approving the EU fiscal pact will be a one-off deal as a repeat vote will not be offered, says government minister Brendan Howlin. Unlike other EU treaties, unanimous support from member states is not required, so the pact will move forward with or without Ireland.
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  • Mar. 16, 2012, 2:22 PM
    Though headlines over an oil strike off the southwest coast of Ireland tip toward hyperbole, the region can still see meaningful production if deeper waters to the west also contain oil than can be drilled. The government estimates that the Irish Atlantic Margin region has oil and gas reserve potential of 10B barrels of oil equivalent. Ireland-focused ETFs IRL and EIRL include energy plays.
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  • Mar. 16, 2012, 9:29 AM
    The growth outlook for the eurozone has deteriorated over the past 3 months, says Ernst & Young in its Spring quarterly forecast, now expecting 2012 GDP to contract 0.5%. Among the individual countries, Ireland's GDP is expected to fall 0.1% against a previous forecast of +0.5%. (full report)
    | 3 Comments
  • Mar. 7, 2012, 12:51 PM
    Allied Irish Banks (AIBYY.PK +3.6%) may cut 2.5K jobs, 25% more than signaled in April as it seeks to trim expenses amidst continuing losses. The bank is a ward of the state, having received a €20.7B capital injection, which gave the government a 99.8% share.
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  • Mar. 7, 2012, 9:24 AM
    Irish employment grew by 10K in Q4, the first quarterly rise in 4 years for the debt-saddled nation. For the year, employment fell 15.4K or 0.8%, an improvement over 2010's drop of 3.4%. The technology and finance sectors led the growth, while the public sector remains a drag. IRL +11.7% YTD.
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  • Mar. 4, 2012, 10:21 AM
    Thirty-seven percent of Irish voters say they will vote in favor of the new EU fiscal compact, with a near equal amount either undecided or saying their support is conditional on better bailout terms. A full 61% believe the economy will only recover if the country is allowed a debt restructuring.
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  • Mar. 2, 2012, 11:27 AM
    Ireland may not be ready to fully return to the markets for funding in 2013, says the IMF, although it expects the country to raise a bit of short-term money this year. The agency sees GDP growth of just 0.5% this year, below the government forecast of 1.3%.
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  • Mar. 1, 2012, 8:57 AM
    "(The) Irish people will not be bribed" to vote "yes" in the fiscal pact referendum, says PM Enda Kenny. Actually, if recent history holds, it will be the opposite - with Brussels threatening to withhold emergency funding and predicting economic mayhem for the Emerald Isle should the vote not pass.
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  • Mar. 1, 2012, 7:22 AM
    Ireland may need a mini-budget to implement further cuts this year should the "macroeconomic backdrop" continue to deteriorate, according to a leaked EC document. The truth hurts in Ireland, where politicians are steaming that German lawmakers were presented with the data before the Irish finance ministry was told about it.
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  • Mar. 1, 2012, 6:11 AM
    EU approves €5.8B aid payment for Ireland. (via)
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  • Feb. 29, 2012, 7:27 AM
    A defeat of the EU fiscal compact in Ireland would not prevent the treaty from entering into force as just 12 eurozone states need to ratify it. Irish leaders will campaign for passage using the trusty Armageddon card, Deputy PM Gilmore telling MPs a rejection means the country will be cut off from needed access to emergency funds.
    | 1 Comment
  • Feb. 22, 2012, 10:32 AM
    Ireland identifies up to €3B in state-owned assets to put up for sale, meeting one of the terms of its bailout conditions. On the block will be the power-generation capacity of the Electric Supply Board, parts of gas company Bord Gais, and possibly some of state forestry firm Coillte.
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  • Feb. 13, 2012, 5:45 AM
    Yields on GIIPS 10-year bonds diverge following the Greek vote. Portugal in particular is benefiting and is -31 bps at 12.17%, continuing falls that began last week. Spain is -5 bps at 5.25% and Italy is -8 bps at 5.53%. Greece, though, is +3bps at 32.93%, while Ireland is +47 bps at 8.21%.
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EIRL Description
The iShares MSCI Ireland Capped ETF (the “Fund”) seeks to track the investment results of a broad-based index composed of Irish equities, 'MSCI All Ireland Capped Index'.
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Country: Ireland
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