ECB Emergency Scheme Seen Capping Irish Bank Bill |
|
March 28, 2011
European Central Bank support should mean Ireland will not have to spend more than the 35 billion euros set aside to recapitalize its banks and it may also get a cheaper bailout deal next month, an EU source said on Monday.
European Central Bank support should mean Ireland will not have to spend more than the 35 billion euros set aside to recapitalize its banks and it may also get a cheaper bailout deal next month, an EU source said on Monday.
ECB plans to give medium-term funding to Irish banks, revealed to Reuters by a euro zone central banking source, has neutralized the risk that fresh stress tests on the wrecked lenders would cripple an EU-IMF bailout deal.
"We have no reason to think that the plan that has been agreed in November, which is 35 billion set aside for the banks, will not be enough ... following the ECB's lifeline over the weekend," an EU source told Reuters on Monday.
Related Links
