Ireland reaches debt deal with ECB

02/8/2013 | Bloomberg · Wall Street Journal, The

An Irish agreement with the European Central Bank focuses on promissory notes issued in a failed attempt to save Anglo Irish Bank and Irish Nationwide Building Society. The ECB has agreed to replace the notes with longer-term bonds, easing Ireland's need to borrow during the next 10 years by €20 billion. The deal might help Ireland re-enter international bond markets in 2014.

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Bloomberg · Wall Street Journal, The

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