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Jean-Claude Trichet was ECB chief from 2003 to 2011 (Photo: Council of European Union)

Letter shows ECB threat ahead of Ireland bailout

The European Central Bank on Thursday (6 November) formally made public a letter showing that the eurozone bank threatened to pull emergency bank funding if Ireland did not enter a bailout and undertake austerity measures in 2010.

The letter, signed by the then ECB president, Jean-Claude Trichet, speaks of “great concern” about the solvency of Irish lenders - which had loaned heavily to the over-heated construction ...

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Jean-Claude Trichet was ECB chief from 2003 to 2011 (Photo: Council of European Union)

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