ECB said to object to 15-year commitment to fund Anglo
ECB policy makers rejected a government plan designed to fund the rescue of the former Anglo Irish Bank for at least 15 years, according to a report.
European Central Bank policy makers rejected a government plan designed to fund the rescue of the former Anglo Irish Bank Corp. for at least 15 years, according to three people with knowledge of the deliberations.
Under the proposal, the Central Bank would have signed a contract guaranteeing to hold for at least a decade and a half a long-term bond issued to replace about €30 billion of so-called promissory notes used to rescue the lender in...
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