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In it’s annual report published yesterday, the ECB says that, “liquidation of the IBRC raises serious monetary financing concerns”.
Burning the bondholders would be “akin to sovereign default” Eamon Gilmore told the Dáil this morning and said the issue of the promissory note has been “resolved”.
The knowledge that there is now €1 billion of wiggle room on the table could promote further reluctance to change, writes Aaron McKenna.
“As Ronald Reagan used to say, ‘We took one for the team.’ And I think the team owes us now.”
However, the Taoiseach, Enda Kenny says it’s too early to predict the promissory note impact on Budget 2014.
A debate on the promissory note arrangement saw sharp exchanges between the independent TD and the Finance Minister last night.
Here’s our round-up of the best, the most popular and the most commented-on pieces from the past week. Did you make it in?
Danske Bank Markets said it now expects rating agencies to upgrade Ireland’s status while businesses say the deal will improve consumer confidence.
Michael Noonan and Brendan Howlin meet with Wolfgang Schauble at Farmleigh House in Dublin today where discussions on Ireland’s legacy bank debt are sure to come up.