Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
The ECB blackmailed the Irish Government to bail out the banks who had made loans to the developers using funds originating from EU banks - by threatening to withdraw all liquidity support for the Irish banks and thus crashing the Irish banking system - if it did not do so.  Even now it is threatening to withdraw support if the Irish Government does not pay unguaranteed senior bondholders in the long defunct Anglo-Irish bank in full c. 3.8 Billion in the next few months - see Colman quotes.

Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Mon Sep 12th, 2011 at 01:38:11 PM EST
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