The European Central Bank told Ireland on Monday (15 November) that EU emergency funds can indeed be used to bail-out its debt-ensnarled banks, adding to the pressure on the country to finally access a European rescue mechanism.
Ireland continued to insist on Monday that it has no need of funding for government spending, but ECB vice-president Vitor Constancio said that a pool of monies set up by eurozone government for bailing out countries can be used for banks instead.
The EU f...
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