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IPFS News Link • Bailouts

Ireland passes bailout package despite opposition


Finance Minister Brian Lenihan pushed through the 85 billion euros (£72.5 billion) package with the support of independent MPs and told the centre-right Fine Gael party that its proposals to lean on senior bondholders would fail because of opposition from the European Central Bank.

"Those who think we can unilaterally renege on senior bondholders against the wishes of the ECB are living in fantasy land," he said.