“Governance of the Eurozone: Past, Present and Future”

[barryqwalsh]

In November 2010 (with the strong support of US treasury secretary Geithner), the ECB adamantly opposed any Irish burning of senior unguaranteed unsecured bondholders. In March 2011 it again rejected a haircut even for bondholders of defunct Anglo Irish and Nationwide. It is unclear how strongly the Irish authorities advocated these proposals given their need to maintain good relations with external partners and the fact that by then the amounts involved were less than €5 billion – compared to total debt of over €200 billion.

Five questions for Jean-Claude Trichet when he visits Dublin

 

[barryqwalsh]

A defiant Trichet reckoned we were missing something. He wasn’t wrong…

Analysis: The former ECB head was robust and defiant and views the crisis somewhat differently.

A defiant Trichet reckoned we were missing something. He wasn t wrong