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Thread: Rumblings at the ECB over Ireland's unilateral move on Anglo note. RoŠdblock or ball of smoke?

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    Default Rumblings at the ECB over Ireland's unilateral move on Anglo note. RoŠdblock or ball of smoke?

    ECB will examine promissory note deal 'further' - RT… News

    'The European Central Bank chief Mario Draghi has said the ECB will examine the Irish swap further.

    This comes after the German governing council member and Bundesbank chief Jens Weidmann said Ireland's promissory note transaction comes dangerously close to contravening a ban on the monetary financing of governments.

    He said the ECB will re-examine the issue and "has to make sure that its actions are in conformity with its rules and statutes".'

    It is not crystal clear but it appears the quoted remark is from Weidmann and not Draghi.

    So it there trouble at the Tower or is Weidmann just impotently rattling Draghi's cage?


    .........

    PS does the swear filter dislike ****************************************** so much it turns the word ro****************************************** into ro*******?!

    Answer - looks like it. Wow The bad word is a d block, with no spaces....
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    Politics.ie Member Socratus O' Pericles's Avatar
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    Run blings? Is that something to do with fast moving flashy jewellery?
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    Politics.ie Member H.R. Haldeman's Avatar
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    Government should release a statement saying they note that the ECB will examine the deal further.

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    I love the way there is a 'close to' when talking about breaking the rules. Surely something either breaks the rules or it doesn't. I think hanging out with the Irish has rubbed off on the ECB.

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    Politics.ie Member ger12's Avatar
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    This is being discussed all afternoon on the Prom Note thread. Ribeye centre stage petunia

    http://www.politics.ie/forum/current...ml#post6419936
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    Quote Originally Posted by H.R. Haldeman View Post
    Government should release a statement saying they note that the ECB will examine the deal further.
    Unanimously...
    "It is difficult to get a man to understand something when his salary depends upon his not understanding it." - Upton Sinclair.

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    Politics.ie Member Sync's Avatar
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    Quote Originally Posted by ger12 View Post
    This is being discussed all afternoon on the Prom Note thread. Ribeye centre stage
    I've never heard of a better reason for a new thread.

    I expect the ECB to examine any deal to ensure it matches requirements. I expect the Irish govt to have ensured the deal was in fact in line with requirements. If they fail then I can see that thread on Noonan moving on getting a lot more attention.
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    Honohan did the same trick with Lenihan signing the country up for the EU/IMF deal first think about the details and reality of the deal later. Honohan is a loose gun.

    Last edited by YouKnowWhatIMeanLike; 15th February 2013 at 09:00 PM.

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    R.o.a.d.b.l.o.ck. is banned because its contains 'a.d.b.l.o.c.k.'

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    Politics.ie Member odlum's Avatar
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    Weidmann is always making these noises about pretty much everything. The promissory notes have already been converted to long term bonds. The deal is already done. The only way the ECB can interfer now is by telling the central bank to sell the bonds faster in to the market. They will hardly bother. But they will keep firm on the minimum schedule to have the bonds sold in the next 10 years.

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