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Ireland to liquidate Anglo Irish to cut government debt

According to the Irish Times, the government of Ireland has entered into a deal with the ECB to cut the country’s debt by liquidating the nationalised Irish bank Anglo Irish. As I noted in the Saturday post on Ireland’s superior economic performance, European policy makers are eager to be able to hold Ireland up as an example of the virtues of austerity and are thus likely to consummate this deal with the Irish to cut government debt.

Here’s how I put it Saturday:

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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.

1 Comment

  1. David_Lazarus says:

    It is not just AIB that needs to be liquidated. All the government owned Irish banks need to be liquidated.