available here.
Details here. From the piece:
Communications Minister Pat Rabbitte has said that the country will not pay the €3.1bn promissory note for former Anglo Irish Bank when it is due in March.
He told RTÉ’s The Week in Politics that the Government can not pay this “IOU” entered into by the last Government after the collapse of Anglo Irish Bank.
He said the European Central Bank was a difficult institution to “bring around” to stamping the deal Ireland needs on the promissory note.
But Minister Rabbitte said he believes it will happen before the payment is due next March.
Was planning on having an early night, but it’s #twip all the way now.
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Brian O’Kelly and I have a new policy paper on Eurozone bank resolution; it is in the Special Papers series produced by the Financial Markets Group at LSE.
A new ECB OP on this topic is here.
This alternative approach to measuring exchange rates is especially relevant for Ireland, in view of the high gross exports/imports of the foreign-dominated sectors.