ECB plans emergency scheme for Irish Banks

THE EUROPEAN Central Bank (ECB) is working on an emergency plan to deepen its support for Ireland’s ailing financial system with a new scheme to provide banks with more than €60 billion in medium-term “liquidity” loans.

The initiative, which is being prepared in anticipation of bank stress results next Thursday, will significantly expand the reach of the ECB’s operations in Ireland.

It comes as the Government prepares to make the case to its euro zone partners for significant new measures to ease the burden on the State from the bank bailout.

Since taking office a little more than a fortnight ago, the Government made public on a number of occasions the fact that it was seeking fresh ECB support for the banks.

The Irish Times

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell