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There were similar leaks from ECB to force Irish to take bailout. Anyway we will see on monday, right now some ATMs in athens are still working.
by jkot 11y ago
There were similar leaks from ECB to force Irish to take bailout. Anyway we will see on monday, right now some ATMs in athens are still working.
- lmb 11y agoSince this is [citation needed] I dug around. Seems like yes, the ECB pressured Ireland into accepting a bailout by threatening them to shut down ELA. But in fact they did it in a secret letter from Trichet to the then finance minister. Getting that letter released took some pressure, as well. [0][1] So, the only similarity seems to be the ECB threatening to pull ELA. There has alreay been debate that the ECB is already overstepping their mandate, but I can't find an English source for that. 0: http://www.irishtimes.com/business/economy/o-reilly-hits-out-at-ecb-for-lack-of-transparency-on-irish-bailout-1.1716321 http://www.irishtimes.com/business/economy/o-reilly-hits-out... 1: http://www.bbc.co.uk/news/business-29942060 http://www.bbc.co.uk/news/business-29942060
- jkot 11y agoMy source is former Irish financial minister talking at parliamentary commission, which investigated crisis, a few months ago. Dont really remember details.