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.

28th January, 2013
European Central Bank policy makers rejected a government plan, said sources.

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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