While Ireland hums and haws over bank debt we learn from Transport Minister Leo Varadkar that “difficulties” remain in the talks with the ECB on refinancing the bailout, though he remains hopeful a solution will be found. I would guess that eventually a deal will be made that will be nothing more than a dressed up comical illusion.
So we are now refinancing the bailout, does this mean we pay double?
In the meantime we hear
Iceland’s refusal to repay depositors legal
Iceland was within its rights not to repay billions of euro to the United Kingdom and Dutch governments, who were forced to compensate depositors after an Icelandic bank collapsed at the height of the global financial crisis, a court has ruled.
The decision was taken by the court of the European Free Trade Association (Efta), which ruled that Iceland had not broken depositor protection laws by refusing to compensate people who had invested in Landsbanki’s Icesave online banking accounts.
What a shame the Government of Ireland lack the courage of of our friends in Iceland.
Why do the lack the courage …in simple terms the ECB says pay up or else…No more funding