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Thu 7 Feb 2013 to be announced

ECB could approve scheme to liquidate former Anglo Irish Bank as part of bailout restructuring

  • By Yafit Lazar
  • Last update: 2 years ago
  • Frankfurt am Main, Hesse, Germany

ECB Headquarters

Wikipedia-ArcCan

The European Central Bank (ECB) is expected to approve a new scheme to restructure Ireland's most controversial bank bailout.

The decision comes after the Irish parliament rushed to pass new legislation which will shut down the Irish Bank Resolution Corporation and transform its debt into a long-term bond.

The scheme is designed to ensure the repayments are reduced and spread over a longer period.

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