Ministers believed the ECB was issuing threats
Ministers have discussed what they believed were threats by the European Central Bank (ECB) to withdraw support for Irish banks if the government forced senior bondholders to share the banks’ losses, The Sunday Business Post has learned.
Ministers have discussed what they believed were threats by the European Central Bank (ECB) to withdraw support for Irish banks if the government forced senior bondholders to share the banks’ losses, The Sunday Business Post has learned.
The discussions took place in advance of the decision to commit €24 billion to recapitalise the banks a fortnight ago, while the government was attempting to secure ECB agreement to impose losses on senior unguaranteed debt.
The...
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