Saturday September 19, 2020

FT argues for Irish debt deal to relieve "financial purgatory"

If Ireland is to emerge from its “financial purgatory”, some relief on its mountain of bank debt is unavoidable, the Financial Times has said in its editorial comment today.

19th December, 2012
2
“By strong-arming Dublin into a deal, eurozone partners safeguarded the interests of their creditors via the Irish public purse,” said the Financial Times.

If Ireland is to emerge from its “financial purgatory”, some relief on its mountain of bank debt is unavoidable, the Financial Times has said in its editorial comment today.

The newspaper argues that Europe should agree to re-engineer the Anglo Irish Bank promissory notes and it should agree to mutualise Ireland’s bank bailout via the European Stability Mechanism.

The editorial said that the “time has come for the eurozone to heed...

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