Thursday, February 7, 2013

Ireland's hopes rise for debt refinancing.

A reluctant ECB is close to agreeing a refinancing of Ireland's debt after the country's parliament authorized emergency legislation to dissolve the former Anglo Irish and Irish Nationwide banks, now merged into IBRC, and sell their remaining assets of up to €14B to a bad bank. Dublin wants to lengthen the payment schedule of a €31B promissory note that helped support the failed banks.

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