An arrogant German lectures the Irish in Dublin.
A report of the harangue may be found in this link to the Irish Times, some quotes from that report are here:
He noted, however, that the full cost of the promissory notes had been factored into the bailout programme.
“Any deviation from that programme should be considered very carefully indeed,” he warned.....
Acknowledging that the repayment of Anglo Irish Bank’s bondholders had been a “source of controversy”, he said the ECB viewed it as the least damaging option in ensuring that “no negative effects spilled over to other Irish banks or banks in other European countries”.
No senior bank bonds anywhere in the euro zone have been defaulted on since the crisis erupted in 2007.
Labels: Irish bailout