Dublin deflects ECB criticism of bank law

ecb-office-frankfurt

Dublin on Monday rebutted some key points of the European Central Bank's (ECB) critique of a draft law that paves the way for restructuring of Ireland's beleaguered banks.

An ECB opinion, published Friday, criticised the "far-reaching powers" that the Credit Institutions Stabilisation Bill, a law drafted to aid in bank restructuring, endows on the Irish finance minister. It also found fault with the lack of legal clarity in some areas of the text, which, it said, could lead to infringement on

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