Troika targets tracker mortgages

A fundamental restructuring of the banking sector is emerging as a central plank of the negotiations with the troika on Ireland's bailout.

14th July, 2012

A fundamental restructuring of the banking sector is emerging as a central plank of the negotiations with the troika on Ireland's bailout.

While the focus has been on the extent to which debts relating to the bank bailout might be moved from Ireland's balance sheet to that of the EU rescue fund, the troika is also believed to be focusing on cleaning out the balance sheets of the Irish banks by removing loss-making tracker mortgages.

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