Boardroom: A European solution to an Irish problem?

The vast bulk of the bondholders have already been repaid, contrary to much of the discussion on the topic.

24th March, 2012
The whole rationale of the promissory note was to provide a way to fund the hole in Anglo Irish Bank and Irish Nationwide without the state having to come up with the cash upfront.

It was Charles Haughey who coined the famous phrase "an Irish solution to an Irish problem". Well, there is no doubt that the talks on the infamous promissory note involve what would be a European solution to an Irish problem.

When you stand back and think about it, the whole rationale of the note was to provide a way to fund the hole in Anglo Irish Bank and Irish Nationwide without the state having to...

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