Wednesday, 25 April 2012

ECB president: ‘No plans to make a deal on promissory notes’

ECB PRESIDENT Mario Draghi has given the clearest public indication yet that the European Central Bank is unwilling to allow a renegotiation of the Anglo Irish Bank promissory notes.
Addressing MEPs at a committee meeting in Brussels, Draghi firmly rebuffed appeals that the ECB allow a renegotiation of the Anglo notes, as part of a programme which would loosen cash restrictions within the Irish government.
Asked specifically if the ECB “plans to do anything about the existing terms of the contract”, Draghi flatly responded: “The answer is no.

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