Sunday, March 27, 2011

Ireland seeks ECB deal to secure banks

Ireland is trying to secure a deal with the European Central Bank that can prevent the country’s banking crisis spinning out of control
after the results of “stress tests” are published this week.The new Irish government wants the ECB to provide about €60bn ($85bn) in medium-term funding to replace emergency temporary help from Ireland’s central bank. But the Frankfurt-based institution is demanding that Dublin first makes good its pledges to recapitalise its banks – and could

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