ECB joins Irish Bill chorus of disapproval

20 Dec 2010

The European Central Bank expressed concerns about the Irish law introduced last week that gives the country’s ministry of finance extensive powers to over bank bondholders’ claims under burden-sharing arrangements.

The ECB said it had not had enough consultation time on the bill and that while it welcomed being consulted on the Irish Credit Institutions Stabilisation Bill and understood the need for an accelerated legislative procedure, “it would have appreciated being consulted by the authority preparing the draft ...

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