Bond sales "crucial" to Ireland's restructuring says Draghi

UPDATE: ECB President Mario Draghi has said the disposal of bonds will be a crucial element in Ireland's restructuring of the promissory notes.

18th February, 2013
European Central Bank President Mario Draghi: "some developments have been positive" in method used by the government to restructure the promissory notes.

Speaking to the European Parliament ECB President Mario Draghi said “some developments have been positive” in the method the government used in restructuring the promissory notes used to rescue the former Anglo Irish Bank.

The government replaced promissory notes used to bail out the failed lender on February 8 for long-term sovereign bonds, which will be held and sold down gradually by the Central Bank.

The new bonds are tradable securities and the Central...

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