October:The final transfers of Anglo Irish Bank's land and development loans to the National Asset Management Agency (Nama) will be completed.
This will facilitate the split of Anglo Irish Bank into two separate banks: a funding bank and an asset-recovery bank.
The Government hopes this will remove remaining uncertainty over the costs of rescuing Anglo Irish Bank.
November
A four-year fiscal consolidation plan to reduce the exchequer deficit to 3 per cent of gross domestic product (GDP) by 2014 will be submitted to Brussels. It will detail both cost-cutting and revenue-raising measures to reassure the European Commission that the State can finance the bank bailout and restore stability to the national finances.
The recapitalisation of AIB is also scheduled to take place in November seeing the Government acquiring over 90 per cent of the bank. This should reduce uncertainty about AIB’s funding costs.
December
The Budget will be presented on December 8th and voted on by the Dáil. It will give effect to the first round of measures in the four-year plan submitted to the European Commission. It will be eagerly watched by potential lenders as an indication of the Government’s ability to implement fiscal consolidation agreed with Brussels.
The transfer of the remaining land and development loans of the other four banks to the National Asset Management Agency are due to be completed.
January
The National Treasury Management Agency plans to return to the debt markets.
If the measures implemented over the previous three months have been effective in restoring confidence in the Irish economy the cost of borrowing will have fallen to a sustainable level.