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Reply #12


Response to Tansy_Gold (Original post)

Thu Apr 12, 2012, 07:47 AM

12. Ireland will not need new bailout, ECB official says

http://www.irishtimes.com/newspaper/breaking/2012/0412/breaking17.html

European Central Bank executive board member Joerg Asmussen said that he doesn't "see any need for additional capital" for Ireland's banks and that ECB's view is that the country won't need a second bailout.

The ECB stands ready to work with Irish authorities on the campaign to restructure so-called promissory

notes used to bail out former Anglo Irish Bank and to deal with loss-making mortgage loans in other banks that track the ECB benchmark rate, Mr Asmussen said in an interview with RTÉ aired today.

Mr Asmussen said he was not aware of any concrete proposal on how to stretch the maturities of the promissory notes. In the meantime, Ireland should honour its commitments on the promissory notes, which are a precondition to entering the market, he said.

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