McCreevy may seek cash from Irish central bank

The Central Bank of Ireland confirmed that its review of the adequacy of its reserves against guidelines set by the ECB will be completed over the next few months. The bank acknowledged in its 2002 annual report that any reserves that 'may be found to exceed the bank's requirements' could be released to the Exchequer.

Source: Irish Times

The Minister for Finance, Mr McCreevy, will learn in the autumn if he can ease budgetary pressures by tapping into Central Bank reserves worth €1.8 billion.


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