New €5 Note on May 2nd

A new €5 banknote will be issued in Ireland on May 2nd – it is the  first note in the “Europa” series.  The old €5 banknotes  will continue to circulate alongside the new banknotes, but they will gradually be withdrawn. The date when they cease to be legal tender will be announced well in advance. […]
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Deposit Accounts in Cyprus hit with €5.8 Billion Levy

If you think our Property Tax is bad – wait until you hear what European finance ministers have done to savings accounts in Cyprus. The EU ministers have agreed a  €10 billion  bailout for the banks in Cyprus  which includes all Cypriot bank customers handing over at least 6.75% of their savings. Accounts with savings […]
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ECB Rate Kept at 1%

June 6th – The European Central Bank has kept their interest rate unchanged at 1%  today. The decision was widely expected, although some economists had forecast a quarter percentage point interest rate cut. Mario Draghi, ECB president, warned last week that the bank could not “fill the vacuum” created by politicians’ inactivity. The ECB rate […]
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