Ireland passes emergency liquidity restructuring bill

Enda Kenny

The Irish government said today it has reached agreement with the European Central Bank (ECB) to refinance promissory notes issued as collateral in exchange for emergency liquidity used to wind up two banks that went bust at the height of the global financial crisis.

The government of Ireland has appointed liquidators from accountancy firm KPMG to wind up IBRC, the bad bank created from Anglo Irish Bank and Irish Nationwide, and transfer its remaining assets to the National Asset Management

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