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+--- Thread: Why the Eurocrats Imposed a Bailout on the Irish (/Thread-Why-the-Eurocrats-Imposed-a-Bailout-on-the-Irish)
Why the Eurocrats Imposed a Bailout on the Irish - DMG-network - 03-01-2011
Why was it necessary for the European authorities to force Ireland to accept a painful “rescue” package that the Irish themselves said wasn’t necessary?One reason is that the Irish banks were offsetting the haemorrhage of billions of foreign deposits by making huge drawings on the European Central Bank’s short-term loan facility, at an annual interest [...]
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